Community development authorities; makes comprehensive changes to provisions related thereto. (HB2408)

Introduced By

Del. Frank Hall (D-Richmond) with support from 7 copatrons, whose average partisan position is:

Description

Community development authorities. Makes comprehensive changes to provisions related to the creation and operation of community development authorities (CDA). Changes include codification of the current practice of altering the boundaries of a CDA under certain circumstances and clarification of the process for creating a CDA if it is located wholly or partly within a town. Amends § 15.2-5101 (“Definitions.”), § 15.2-5108 (“Issuance of certificate or charter.”), § 15.2-5114 (“Powers of authority.”), § 15.2-5115 (“Same; contracts relating to use of systems.”), § 15.2-5125 (“Issuance of revenue bonds.”), § 15.2-5132 (“Exemption from taxation.”), § 15.2-5133 (“Trust agreement; bond resolution.”), § 15.2-5136 (“Rates and charges.”), § 15.2-5141 (“Bondholder\u2019s remedies.”), § 15.2-5142 (“Refunding bonds.”), § 15.2-5147 (“Powers of localities, etc., to make grants and conveyances to and contracts with authority.”), § 15.2-5148 (“Units may convey property.”), § 15.2-5152 (“Localities may consider petitions for creation of authority.”), § 15.2-5153 (“Landowners may petition localities.”), § 15.2-5154 (“Contents of petition.”), § 15.2-5155 (“Ordinance or resolution creating authority.”), § 15.2-5158 (“Additional powers of community development authorities.”), § 15.2-5159 (“Validation of creation of authorities; bonds issued.”), of the Code of Virginia. View Full Text »

Outcome

2 votes