2.2-2330 - Powers of Authority.
§ 2.2-2330. Powers of Authority.
The Authority shall be granted all powers necessary or appropriate to carryout and to effectuate its purposes, including the power to:
1. Have perpetual succession as a public body corporate and as a politicalsubdivision of the Commonwealth;
2. Adopt, amend, and repeal bylaws, rules, and regulations, consistent withthis article for the administration and regulation of its affairs, to carryinto effect the powers and purposes of the Authority and the conduct of itsbusiness;
3. Sue and be sued in its own name;
4. Have an official seal and alter it at will, although the failure to affixthis seal shall not affect the validity of any instrument executed on behalfof the Authority;
5. Maintain an office at any place that it designates;
6. Make and execute contracts and all other instruments and agreementsnecessary or convenient for the performance of its duties and the exercise ofits powers and functions under this article;
7. Make and enter into all contracts and agreements necessary or incidentalto the performance of its duties, the furtherance of its purposes and theexecution of its powers under this article, including interstate compacts andagreements with any person or federal agency;
8. Employ, in its discretion, consultants, attorneys, architects, engineers,accountants, financial experts, investment bankers, superintendents,managers, and such other employees and agents as may be necessary, and to fixtheir compensation to be payable from funds made available to the Authority;
9. Receive and accept from any federal or private agency, foundation,corporation, association, or person grants, donations of money, realproperty, or personal property for the benefit of the Authority, and toreceive and accept from the Commonwealth or any state, any municipality,county or other political subdivision thereof, and from any other source,aid, or contributions of either money, property, or other things of value, tobe held, used, and applied for the purposes for which such grants andcontributions may be made;
10. Receive and accept from any source aid, grants, and contributions ofmoney, property, labor, or other things of value to be held, used, andapplied to carry out the purposes of this article subject to the conditionsupon which the aid, grants, or contributions are made;
11. Enter into agreements with any department, agency or instrumentality ofthe United States, the Commonwealth, the District of Columbia, or any statefor purposes consistent with the Authority's mission;
12. Make grants to local governments, state and federal agencies, and privateentities with any funds of the Authority available for this purpose;
13. Raise money in the corporate, nonprofit, and nonstate communities tofinance the Authority's activities; and
14. Do any act necessary or convenient to the exercise of the powers grantedor reasonably implied by this article and not otherwise inconsistent with thelaw of this Commonwealth.
(2005, c. 858.)