Virginia § 15.2-5941 - Powers
Full text of Virginia Code of Virginia § 15.2-5941 — Powers, with citation guidance and answers to common questions.
§ 15.2-5941. Powers
In addition to all other powers it possesses, the Authority may:
1. Determine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site to the extent necessary to accomplish the purposes of this chapter, including contracting for materials, products, and services related to such Facility or Facility Site;
2. Enter into development agreements related to the Facility or Facility Site, including leases, subleases, and any other forms of private financing;
3. Develop a model for participating localities to share costs and revenues of a Facility and Facility Site;
4. Operate, enter into contracts for the operation of, and regulate the use and operation of a Facility and Facility Site developed under the provisions of this chapter;
5. Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site or for services rendered in connection with a Facility or Facility Site;
6. Dedicate any funds that accrue to the Authority pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site;
7. Issue bonds and similar financial instruments under this chapter;
8. Finance the construction of a Facility using loans, notes, private equity financing, or any other method of financing the Authority deems appropriate; and
9. Do all things necessary or convenient to carry out the powers granted by this chapter.
Frequently Asked Questions About Virginia § 15.2-5941
What does Code of Virginia § 15.2-5941 cover?
Section 15.2-5941 ("Powers") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 15.2-5941?
A common citation format is "Code of Virginia § 15.2-5941" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 15.2-5941 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.