{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-4911.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-4911.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-4911.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-4911.html"}],"law_id":348525,"edition_id":2,"section_id":348525,"structure_id":49983,"section_number":"15.2-4911","catch_line":"Rents, fees and other charges","history":"1966, c. 651, \u00a7 15.1-1382; 1968, c. 687; 1973, c. 528; 1997, c. 587.","full_text":"The authority shall fix and revise from time to time the rents, fees and other charges to be paid to it in connection with the lease or sale of various authority facilities and for any other services furnished or provided by the authority. Such rents, fees and charges shall provide at least sufficient funds to pay the cost of maintaining, repairing and operating such projects and the principal and interest of any bonds issued by the authority or other debts contracted as the bonds become due and payable. The authority and the political subdivision in which all or any part of a particular authority facility is located may agree on payment by the authority on account of governmental services to be rendered by the political subdivision in such amounts as the authority may find to be consistent with the purposes of this chapter. A reserve may be accumulated and maintained out of the revenues and receipts of the authority for extraordinary repairs and expenses and for such other purposes as may be provided in any resolution authorizing a bond issue or in any trust indenture securing the authority’s bonds. Subject to such provisions and restrictions as may be set forth in the resolution or in the trust indenture authorizing or securing any of the bonds or other obligations hereunder, the authority shall have exclusive control of the revenues and receipts derived from the lease or sale of any authority facility and the right to use the revenues and receipts in the exercise of its powers and duties set forth in this chapter.\n\n","order_by":null,"text":{"0":{"id":1299501,"text":"The authority shall fix and revise from time to time the rents, fees and other charges to be paid to it in connection with the lease or sale of various authority facilities and for any other services furnished or provided by the authority. Such rents, fees and charges shall provide at least sufficient funds to pay the cost of maintaining, repairing and operating such projects and the principal and interest of any bonds issued by the authority or other debts contracted as the bonds become due and payable. The authority and the political subdivision in which all or any part of a particular authority facility is located may agree on payment by the authority on account of governmental services to be rendered by the political subdivision in such amounts as the authority may find to be consistent with the purposes of this chapter. A reserve may be accumulated and maintained out of the revenues and receipts of the authority for extraordinary repairs and expenses and for such other purposes as may be provided in any resolution authorizing a bond issue or in any trust indenture securing the authority’s bonds. Subject to such provisions and restrictions as may be set forth in the resolution or in the trust indenture authorizing or securing any of the bonds or other obligations hereunder, the authority shall have exclusive control of the revenues and receipts derived from the lease or sale of any authority facility and the right to use the revenues and receipts in the exercise of its powers and duties set forth in this chapter.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":49983,"edition_id":2,"name":"Industrial Development and Revenue Bond Act","identifier":"49","label":"chapter","depth":3,"order_by":7,"parent_id":49964,"metadata":{"child_laws":21,"child_structures":0},"date_created":"2026-08-02 02:19:23","date_modified":"2026-08-02 12:29:51","permalink":{"id":1385345,"object_type":"structure","relational_id":49983,"identifier":"49","token":"15.2\/IV\/49","url":"\/15.2\/IV\/49\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348514,"structure_id":49983,"section_number":"15.2-4900","catch_line":"Short title","url":"\/15.2-4900\/","token":"15.2\/IV\/49\/15.2-4900","metadata":false},{"id":348515,"structure_id":49983,"section_number":"15.2-4901","catch_line":"Purpose of chapter","url":"\/15.2-4901\/","token":"15.2\/IV\/49\/15.2-4901","metadata":false},{"id":348516,"structure_id":49983,"section_number":"15.2-4902","catch_line":"Definitions","url":"\/15.2-4902\/","token":"15.2\/IV\/49\/15.2-4902","metadata":false},{"id":348517,"structure_id":49983,"section_number":"15.2-4903","catch_line":"Creation of industrial development authorities","url":"\/15.2-4903\/","token":"15.2\/IV\/49\/15.2-4903","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Short Pump Town Center Community Development Authority v. .\u202f.\u202f. ","case_number":"Record 010456","citation":"554 S.E.2d 441","date":"2001-11-02","url":"https:\/\/www.courtlistener.com\/opinion\/1059406\/short-pump-town-center-community-development-authority-v-hahn\/","abstract":" .\u202f.\u202f. 554 S.E.2d 441 (2001) .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"1":{"name":"DR. WILLIAM ES FLORY v. Com.","case_number":"000961","citation":"541 S.E.2d 915","date":"2001-03-02","url":"https:\/\/www.courtlistener.com\/opinion\/1059510\/dr-william-es-flory-v-com\/","abstract":" .\u202f.\u202f. 541 S.E.2d 915 (2001) .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"2":{"name":" .\u202f.\u202f. Dr. William E.S. Flory Small Business Development Center, .\u202f.\u202f. ","case_number":"Record No. 000961","citation":"261 Va. 230","date":"2001-03-02","url":"https:\/\/www.courtlistener.com\/opinion\/6931123\/dr-william-es-flory-small-business-development-center-inc-v\/","abstract":" .\u202f.\u202f. JUSTICE LACY .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},{"id":348518,"structure_id":49983,"section_number":"15.2-4904","catch_line":"Directors; qualifications; terms; vacancies; compensation and expenses; quorum; records; certification and distribution of report concerning bond issuance","url":"\/15.2-4904\/","token":"15.2\/IV\/49\/15.2-4904","metadata":false},{"id":348519,"structure_id":49983,"section_number":"15.2-4905","catch_line":"Powers of authority","url":"\/15.2-4905\/","token":"15.2\/IV\/49\/15.2-4905","metadata":false},{"id":348520,"structure_id":49983,"section_number":"15.2-4906","catch_line":"Public hearing and approval","url":"\/15.2-4906\/","token":"15.2\/IV\/49\/15.2-4906","metadata":false},{"id":348521,"structure_id":49983,"section_number":"15.2-4907","catch_line":"Fiscal impact statement","url":"\/15.2-4907\/","token":"15.2\/IV\/49\/15.2-4907","metadata":false},{"id":348522,"structure_id":49983,"section_number":"15.2-4908","catch_line":"Issuance of bonds, notes and other obligations of authority","url":"\/15.2-4908\/","token":"15.2\/IV\/49\/15.2-4908","metadata":false},{"id":348523,"structure_id":49983,"section_number":"15.2-4909","catch_line":"Liability of Commonwealth, political subdivisions, directors and officers","url":"\/15.2-4909\/","token":"15.2\/IV\/49\/15.2-4909","metadata":false},{"id":348524,"structure_id":49983,"section_number":"15.2-4910","catch_line":"Security for payment of bonds; default","url":"\/15.2-4910\/","token":"15.2\/IV\/49\/15.2-4910","metadata":false},{"id":348525,"structure_id":49983,"section_number":"15.2-4911","catch_line":"Rents, fees and other charges","url":"\/15.2-4911\/","token":"15.2\/IV\/49\/15.2-4911","metadata":false},{"id":348526,"structure_id":49983,"section_number":"15.2-4912","catch_line":"Exemption from taxation","url":"\/15.2-4912\/","token":"15.2\/IV\/49\/15.2-4912","metadata":false},{"id":348527,"structure_id":49983,"section_number":"15.2-4913","catch_line":"Authority to be nonprofit; excess earnings","url":"\/15.2-4913\/","token":"15.2\/IV\/49\/15.2-4913","metadata":false},{"id":348528,"structure_id":49983,"section_number":"15.2-4914","catch_line":"Dissolution of authority; disposition of property","url":"\/15.2-4914\/","token":"15.2\/IV\/49\/15.2-4914","metadata":false},{"id":348529,"structure_id":49983,"section_number":"15.2-4915","catch_line":"Bonds as legal investments and lawful security","url":"\/15.2-4915\/","token":"15.2\/IV\/49\/15.2-4915","metadata":false},{"id":348530,"structure_id":49983,"section_number":"15.2-4916","catch_line":"Authorities acting jointly","url":"\/15.2-4916\/","token":"15.2\/IV\/49\/15.2-4916","metadata":false},{"id":348531,"structure_id":49983,"section_number":"15.2-4917","catch_line":"Facility sites","url":"\/15.2-4917\/","token":"15.2\/IV\/49\/15.2-4917","metadata":false},{"id":348532,"structure_id":49983,"section_number":"15.2-4918","catch_line":"Provisions of chapter cumulative; construction","url":"\/15.2-4918\/","token":"15.2\/IV\/49\/15.2-4918","metadata":false},{"id":348533,"structure_id":49983,"section_number":"15.2-4919","catch_line":"Provisions of chapter controlling over other statutes and charters","url":"\/15.2-4919\/","token":"15.2\/IV\/49\/15.2-4919","metadata":false},{"id":348534,"structure_id":49983,"section_number":"15.2-4920","catch_line":"Validation of creation of authorities, appointment of directors and proceedings; curative resolutions","url":"\/15.2-4920\/","token":"15.2\/IV\/49\/15.2-4920","metadata":false}],"previous_section":{"id":348524,"structure_id":49983,"section_number":"15.2-4910","catch_line":"Security for payment of bonds; default","url":"\/15.2-4910\/","token":"15.2\/IV\/49\/15.2-4910","metadata":false},"next_section":{"id":348526,"structure_id":49983,"section_number":"15.2-4912","catch_line":"Exemption from taxation","url":"\/15.2-4912\/","token":"15.2\/IV\/49\/15.2-4912","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-4911\/","history_text":"

This law was first created in 1966. The record of its establishment is cataloged in chapter 651 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1966 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1968, chapter 687; in 1973, chapter 528; in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1385391,"object_type":"law","relational_id":348525,"identifier":"15.2-4911","token":"15.2\/IV\/49\/15.2-4911","url":"\/15.2-4911\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-4911\/","token":"15.2\/IV\/49\/15.2-4911","dublin_core":{"Title":"Rents, fees and other charges","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-4911","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The authority shall fix and revise from time to time the rents, fees and other charges to be paid to it in connection with the lease or sale of various authority facilities<\/span> and for any other services furnished or provided by the authority. Such rents, fees and charges shall provide at least sufficient funds to pay the cost of maintaining, repairing and operating such projects and the principal and interest of any bonds<\/span> issued by the authority or other debts contracted as the bonds<\/span> become due and payable. The authority and the political subdivision in which all or any part of a particular authority facility is located may agree on payment by the authority on account of governmental services to be rendered by the political subdivision in such amounts as the authority may find to be consistent with the purposes of this chapter. A reserve may be accumulated and maintained out of the revenues<\/span> and receipts of the authority for extraordinary repairs and expenses and for such other purposes as may be provided in any resolution authorizing a bond<\/span> issue<\/span> or in any trust indenture<\/span> securing the authority’s bonds<\/span>. Subject to such provisions and restrictions as may be set forth in the resolution or in the trust indenture<\/span> authorizing or securing any of the bonds<\/span> or other obligations hereunder, the authority shall have exclusive control of the revenues<\/span> and receipts derived from the lease or sale of any authority facility and the right to use the revenues<\/span> and receipts in the exercise of its powers and duties set forth in this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRENTS, FEES AND OTHER CHARGES (\u00a7 15.2-4911)\n\nThe authority shall fix and revise from time to time the rents, fees and other\ncharges to be paid to it in connection with the lease or sale of various\nauthority facilities and for any other services furnished or provided by the\nauthority. Such rents, fees and charges shall provide at least sufficient funds\nto pay the cost of maintaining, repairing and operating such projects and the\nprincipal and interest of any bonds issued by the authority or other debts\ncontracted as the bonds become due and payable. The authority and the political\nsubdivision in which all or any part of a particular authority facility is\nlocated may agree on payment by the authority on account of governmental\nservices to be rendered by the political subdivision in such amounts as the\nauthority may find to be consistent with the purposes of this chapter. A reserve\nmay be accumulated and maintained out of the revenues and receipts of the\nauthority for extraordinary repairs and expenses and for such other purposes as\nmay be provided in any resolution authorizing a bond issue or in any trust\nindenture securing the authority’s bonds. Subject to such provisions and\nrestrictions as may be set forth in the resolution or in the trust indenture\nauthorizing or securing any of the bonds or other obligations hereunder, the\nauthority shall have exclusive control of the revenues and receipts derived from\nthe lease or sale of any authority facility and the right to use the revenues\nand receipts in the exercise of its powers and duties set forth in this chapter.\n\nHISTORY: 1966, c. 651, \u00a7 15.1-1382; 1968, c. 687; 1973, c. 528; 1997, c. 587.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}