Virginia Code 2.2-2343: Authority may borrow money, accept contributions, etc.
In addition to the powers conferred upon the Authority by other provisions of this article, the Authority shall have the power:
Terms Used In Virginia Code 2.2-2343
- Authority: means the Fort Monroe Authority. See Virginia Code 2.2-2337
- City: means the City of Hampton, Virginia, a municipal corporation of the Commonwealth of Virginia. See Virginia Code 2.2-2337
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Project: means any specific enterprise undertaken by the Authority, including the facilities as defined in this article, and all other property, real or personal, or any interest therein, necessary or appropriate for the operation of such property. See Virginia Code 2.2-2337
1. To borrow moneys or accept contributions, grants, or other financial assistance from the federal government, the Commonwealth, any locality or political subdivision, any agency or instrumentality thereof, including but not limited to the Virginia Resources Authority, or any source, public or private, for or in aid of any project of the Authority, and to these ends, to comply with such conditions and enter into such mortgages, trust indentures, leases, or agreements as may be necessary, convenient, or desirable;
2. To apply for grants from the Urban Public-Private Partnership Redevelopment Fund pursuant to Chapter 24.1 of Title 15.2. The Authority shall be considered a local government eligible for grants under that chapter. Funds from any source available to the Authority may be used to meet the matching requirement of any such grant;
3. To participate in local group pools authorized pursuant to § 15.2-2703 or to participate in the Commonwealth’s risk pool administered by the Division of Risk Management;
4. To utilize the provisions of the Public-Private Transportation Act of 1995 (§ 33.2-1800 et seq.) and the Public-Private Education Facilities and Infrastructure Act of 2002 (§ 56-575.1 et seq.) as a qualifying public entity under those statutes;
5. To apply for and receive enterprise zone designation under the Enterprise Zone Grant Act (§ 59.1-538 et seq.). Fort Monroe shall be considered an eligible area for such designation, although the Governor is not obligated to grant such a designation;
6. To act as a local cooperating entity pursuant to § 62.1-148; and
7. To enter into agreements with any public or private utility for the ownership or operation of utility services at Fort Monroe, as provided in § 2.2-2348.1. The Authority and the City may mutually agree that such services should not or need not be included under any franchise agreement that the City has with that utility. The utility shall provide the same service generally available to its other customers in the City at reasonable rates.