§ 15.2-5606 — Acquisition, maintenance and operation of projects; revenues from projects

Virginia § 15.2-5606

• Jurisdiction: Virginia
• Title 15.2: COUNTIES, CITIES AND TOWNS
• Subtitle IV: OTHER GOVERNMENTAL ENTITIES
• Ch. 56: PUBLIC RECREATIONAL FACILITIES AUTHORITIES ACT

Text

The authority may acquire or construct and maintain and operate any one or more projects under this chapter in such manner as the authority may determine, and the authority may operate each project separately or it may operate one or more projects together. The authority shall have exclusive control over the revenues derived from its operations and may use revenues from one project in connection with any other project. No person shall receive any profit or dividend from the revenues, earnings or other funds or assets of the authority other than for debts contracted, for services rendered, for materials and supplies furnished and for other value actually received by the authority.

Legislative History

Code 1950, § 15-714.19; 1962, c. 393, § 7, § 15.1-1277; 1997, c. 587.