23-50.16:6 - Powers generally
§ 23-50.16:6. Powers generally.
The Authority shall have all the powers necessary or convenient to carry outthe purposes and provisions of this chapter, including, without limitation,the following powers:
1. To sue and be sued in its own name.
2. To have and alter an official seal.
3. To have perpetual duration and succession in its name.
4. To locate and maintain offices at such places as it may designate.
5. To make and execute contracts, guarantees or any other instruments andagreements necessary or convenient for the exercise of its powers andfunctions including, without limitation, to make and execute contracts withhospitals or health-care businesses to operate and manage any or all of thehospital facilities or operations, and to incur liabilities and secure theobligations of any entity or individual.
6. To conduct or engage in any lawful business, activity, effort or projectconsistent with the Authority's purposes or necessary or convenient toexercise its powers.
7. To exercise, in addition to its other powers, all powers that are grantedto corporations by the provisions of Title 13.1 or similar provisions of anysuccessor law, except in those cases where, by the express terms of theprovisions thereof, the power is confined to corporations created under suchtitle, and that are not inconsistent with the purposes and intent of thischapter or the limitations included in this chapter.
8. To accept, hold and enjoy any gift, devise or bequest to the Authority orits predecessors, the same to be held for the uses and purposes designated bythe donor, if any, or if not so designated, for the general purposes of theAuthority, whether given directly or indirectly; and to accept, execute andadminister any trust or endowment fund in which it has or may have aninterest under the terms of the instrument creating the trust or endowmentfund.
9. To borrow money and issue bonds as provided in this chapter and topurchase such bonds.
10. To seek financing from, incur or assume indebtedness to and enter intocontractual commitments with, the Virginia Public Building Authority and theVirginia College Building Authority, which authorities are authorized toborrow money and make and issue negotiable notes, bonds and other evidencesof indebtedness to provide such financing relating to the hospital facilitiesor any project.
11. To seek financing from, incur or assume indebtedness to, and enter intocontractual commitments with the Commonwealth of Virginia as otherwiseprovided by law relating to the hospital facilities or any project.
12. To procure such insurance, participate in such insurance plans and/orprovide such self-insurance as it deems necessary or convenient to carry outthe purposes and provisions of this chapter. The purchase of insurance,participation in an insurance plan, or creation of a self-insurance plan bythe Authority shall not be deemed a waiver or relinquishment of any sovereignimmunity to which the Authority or its officers, directors, employees, oragents are otherwise entitled.
13. To develop policies and procedures consistent with Article 4 (§ 2.2-4347et seq.) of Chapter 43 of Title 2.2.
14. To develop policies and procedures generally applicable to theprocurement of goods, services and construction, based upon competitiveprinciples.
(1996, cc. 905, 1046.)