§ 15.2-5516. Short title
This chapter shall be known and may be cited as the “Tourism Financing Development Authority Act.” 2007, c. 864.
§ 15.2-5517. One or more localities may create authority
The governing body of a locality may by ordinance or resolution, or the governing bodies of two or more localities may by concurrent ordinances or resolutions or by agreement, create a tourism financing development authority for the purpose of supporting tourism infrastructure in localities. The name of the authority shall contain the word “authority.” The […]
§ 15.2-5518. Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records
A. The authority shall be governed by a board of directors in which all powers of the authority shall be vested and which board shall be composed of seven directors, appointed by the governing body of the locality. If the authority is created by two or more localities, the members of the board shall be […]
§ 15.2-5519. Powers of authority
The authority shall have the following powers together with all powers incidental thereto or necessary for the performance of those hereinafter stated: 1. To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties; 2. To adopt and […]
§ 15.2-5520. Liability of authority
All expenses incurred in carrying out the provisions of this chapter shall be payable solely from the funds of the authority and no liability or obligation shall be incurred by the authority hereunder beyond the extent to which moneys shall be available to the authority. 2007, c. 864.
§ 15.2-5521. Dissolution of authority; disposition of property
Whenever the board of directors of the authority by resolution determines that the purposes for which the authority was formed have been substantially complied with, the then members of the board of directors of the authority shall thereupon execute and file for record with the governing body of the locality that created the authority, a […]
§ 15.2-5522. Provisions of chapter controlling over other statutes and charters
Any provision of this chapter that is found to be in conflict with any other statute or charter shall be controlling and shall supersede such other statute or charter to the extent of such conflict. 2007, c. 864; 2015, c. 709.