HB2359: Southeastern Public Service Authority; withdrawal of member locality.

HOUSE BILL NO. 2359
Offered January 10, 2007
Prefiled January 9, 2007
A BILL to amend and reenact § 2 of Chapter 596 of the Acts of Assembly of 2000, relating to withdrawal from the Southeastern Public Service Authority.
Patron-- Cosgrove

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1.  That § 2 of Chapter 596 of the Acts of Assembly of 2000 is amended and reenacted as follows:

§ 2.  That any locality which is a member of the Southeastern Public Service Authority of Virginia may withdraw therefrom, whether or not there are any outstanding bonds of the Southeastern Public Service Authority of Virginia; provided, however, that all written obligations to the Southeastern Public Service Authority of Virginia incurred by a locality while the locality was a member shall remain in full force and effect following the locality's withdrawal the locality commits to repayment of its share of the outstanding bonds and other instruments of financial indebtedness as of the date of withdrawal. In no event shall a locality that withdraws from the Southeastern Public Service Authority of Virginia be obligated to continue depositing waste with, or paying waste disposal or management fees, rates, or charges to, the Southeastern Public Service Authority of Virginia for the same or comparable services.