A. A locality may by ordinance or resolution, or two or more localities, mayby concurrent ordinances or resolutions, signify their intention to create anauthority under an appropriate name and title containing the word"authority." Each participating locality shall hold a public hearing,notice of which shall be given by publication at least once, not less thanten days prior to the date fixed for the hearing, in a newspaper havinggeneral circulation in the locality. The notice shall contain a briefstatement of the substance of the proposed authority, shall set forth theproposed articles of incorporation of the authority and shall state the timeand place of the public hearing. The locality, by resolution, may call for areferendum on the question of the creation of an authority, which shall beheld as provided by § 24.2-681 et seq. When a referendum is to be held inmore than one locality, the referendum shall be held on the same date in allof such localities.
B. The articles of incorporation shall set forth:
1. The name of the authority and address of its principal office.
2. A statement that the authority is created under this chapter.
3. The name of each participating locality.
4. The names, addresses and terms of office of the first members of theauthority.
5. The purpose or purposes for which the authority is to be created.
C. Passage of such ordinance or resolution by the governing body or governingbodies shall constitute the authority a body politic and corporate of theCommonwealth.
D. Any locality may become a member of an existing authority, and anylocality which is a member of an existing authority may withdraw therefrom,but no locality shall be permitted to withdraw from any authority that hasoutstanding obligations unless United States securities have been depositedfor their payment or without the unanimous consent of all holders of theoutstanding obligations.
E. Having specified the initial purpose or purposes of the authority in thearticles of incorporation, the governing bodies of the participatinglocalities may, from time to time by subsequent ordinance or resolution,after public hearing, modify the articles of incorporation and the purpose orpurposes specified therein. Such modification may be made either with orwithout a referendum.
(Code 1950, § 15-714.15; 1962, c. 393, § 3, § 15.1-1273; 1975, c. 517; 1996,c. 1021; 1997, c. 587.)
A. A locality may by ordinance or resolution, or two or more localities, mayby concurrent ordinances or resolutions, signify their intention to create anauthority under an appropriate name and title containing the word"authority." Each participating locality shall hold a public hearing,notice of which shall be given by publication at least once, not less thanten days prior to the date fixed for the hearing, in a newspaper havinggeneral circulation in the locality. The notice shall contain a briefstatement of the substance of the proposed authority, shall set forth theproposed articles of incorporation of the authority and shall state the timeand place of the public hearing. The locality, by resolution, may call for areferendum on the question of the creation of an authority, which shall beheld as provided by § 24.2-681 et seq. When a referendum is to be held inmore than one locality, the referendum shall be held on the same date in allof such localities.
B. The articles of incorporation shall set forth:
1. The name of the authority and address of its principal office.
2. A statement that the authority is created under this chapter.
3. The name of each participating locality.
4. The names, addresses and terms of office of the first members of theauthority.
5. The purpose or purposes for which the authority is to be created.
C. Passage of such ordinance or resolution by the governing body or governingbodies shall constitute the authority a body politic and corporate of theCommonwealth.
D. Any locality may become a member of an existing authority, and anylocality which is a member of an existing authority may withdraw therefrom,but no locality shall be permitted to withdraw from any authority that hasoutstanding obligations unless United States securities have been depositedfor their payment or without the unanimous consent of all holders of theoutstanding obligations.
E. Having specified the initial purpose or purposes of the authority in thearticles of incorporation, the governing bodies of the participatinglocalities may, from time to time by subsequent ordinance or resolution,after public hearing, modify the articles of incorporation and the purpose orpurposes specified therein. Such modification may be made either with orwithout a referendum.
(Code 1950, § 15-714.15; 1962, c. 393, § 3, § 15.1-1273; 1975, c. 517; 1996,c. 1021; 1997, c. 587.)
A. A locality may by ordinance or resolution, or two or more localities, mayby concurrent ordinances or resolutions, signify their intention to create anauthority under an appropriate name and title containing the word"authority." Each participating locality shall hold a public hearing,notice of which shall be given by publication at least once, not less thanten days prior to the date fixed for the hearing, in a newspaper havinggeneral circulation in the locality. The notice shall contain a briefstatement of the substance of the proposed authority, shall set forth theproposed articles of incorporation of the authority and shall state the timeand place of the public hearing. The locality, by resolution, may call for areferendum on the question of the creation of an authority, which shall beheld as provided by § 24.2-681 et seq. When a referendum is to be held inmore than one locality, the referendum shall be held on the same date in allof such localities.
B. The articles of incorporation shall set forth:
1. The name of the authority and address of its principal office.
2. A statement that the authority is created under this chapter.
3. The name of each participating locality.
4. The names, addresses and terms of office of the first members of theauthority.
5. The purpose or purposes for which the authority is to be created.
C. Passage of such ordinance or resolution by the governing body or governingbodies shall constitute the authority a body politic and corporate of theCommonwealth.
D. Any locality may become a member of an existing authority, and anylocality which is a member of an existing authority may withdraw therefrom,but no locality shall be permitted to withdraw from any authority that hasoutstanding obligations unless United States securities have been depositedfor their payment or without the unanimous consent of all holders of theoutstanding obligations.
E. Having specified the initial purpose or purposes of the authority in thearticles of incorporation, the governing bodies of the participatinglocalities may, from time to time by subsequent ordinance or resolution,after public hearing, modify the articles of incorporation and the purpose orpurposes specified therein. Such modification may be made either with orwithout a referendum.
(Code 1950, § 15-714.15; 1962, c. 393, § 3, § 15.1-1273; 1975, c. 517; 1996,c. 1021; 1997, c. 587.)
