{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5605.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5605.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5605.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5605.html"}],"law_id":348861,"edition_id":2,"section_id":348861,"structure_id":50008,"section_number":"15.2-5605","catch_line":"Transfers of property, appropriations and contracts by participating localities","history":"Code 1950, \u00a7 15-714.18; 1962, c. 393, \u00a7 6, \u00a7 15.1-1276; 1973, c. 238; 1975, c. 109; 1997, c. 587.","full_text":"Each participating locality is authorized and empowered:\n\n1\n\nTo transfer jurisdiction over, to lease, lend, grant or convey to the authority at its request, with or without consideration, such real or personal property as may be necessary or desirable to carry out the purposes of the authority, upon such terms and conditions as such participating locality shall determine to be for its best interests;\n\n2\n\nTo make appropriations and to provide funds for any purpose of the authority, including the acquisition, construction, improvement and operation of any project or facilities thereof and payment of principal and interest on its indebtedness;\n\n3\n\nTo enter into contracts agreeing to carry out any of the provisions set forth in subdivisions 1 or 2, providing for the operation and maintenance of all or any part of a project or otherwise facilitating the construction, development, operation or financing of all or any part of a project; and\n\n4\n\nTo enter into leases with the authority pursuant to which a project or any part thereof is leased to the locality. The lease may be for a term ending not later than the end of the then current fiscal year of the locality and renewable for additional terms of one fiscal year each or as may be agreed upon by the parties provided that the total of the original term and any renewals shall in no event exceed fifty years. Each renewal shall be at the option of such locality and the lease may provide that it is renewed for an additional term if the locality fails to cancel the lease in writing on or prior to sixty days before the end of the then current term. Rentals under such lease may be computed at fixed amounts or by a formula based on any factors provided therein and the rentals payable may include provision for all or any part of or a share of the amounts necessary (i) to pay or provide for the expenses of operation and maintenance of a project, (ii) to provide for the payment of principal and interest on any bonds of the authority, and (iii) to maintain such reserves or sinking funds as may be required by the terms of any contract of the authority or as may be deemed necessary or desirable by the authority. Such payments shall be payable only from revenues of the locality available during the fiscal year during which the lease is in effect. Notwithstanding the provisions of § 15.2-5606 or any other provision hereof the authority or the locality leasing the project may contract with a person as sublessee or operator of the project at a compensation to be agreed upon by the parties.\n\n","order_by":null,"text":{"0":{"id":1300375,"text":"Each participating locality is authorized and empowered:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1300376,"text":"To transfer jurisdiction over, to lease, lend, grant or convey to the authority at its request, with or without consideration, such real or personal property as may be necessary or desirable to carry out the purposes of the authority, upon such terms and conditions as such participating locality shall determine to be for its best interests;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1300377,"text":"To make appropriations and to provide funds for any purpose of the authority, including the acquisition, construction, improvement and operation of any project or facilities thereof and payment of principal and interest on its indebtedness;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1300378,"text":"To enter into contracts agreeing to carry out any of the provisions set forth in subdivisions 1 or 2, providing for the operation and maintenance of all or any part of a project or otherwise facilitating the construction, development, operation or financing of all or any part of a project; and","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":1300379,"text":"To enter into leases with the authority pursuant to which a project or any part thereof is leased to the locality. The lease may be for a term ending not later than the end of the then current fiscal year of the locality and renewable for additional terms of one fiscal year each or as may be agreed upon by the parties provided that the total of the original term and any renewals shall in no event exceed fifty years. Each renewal shall be at the option of such locality and the lease may provide that it is renewed for an additional term if the locality fails to cancel the lease in writing on or prior to sixty days before the end of the then current term. Rentals under such lease may be computed at fixed amounts or by a formula based on any factors provided therein and the rentals payable may include provision for all or any part of or a share of the amounts necessary (i) to pay or provide for the expenses of operation and maintenance of a project, (ii) to provide for the payment of principal and interest on any bonds of the authority, and (iii) to maintain such reserves or sinking funds as may be required by the terms of any contract of the authority or as may be deemed necessary or desirable by the authority. Such payments shall be payable only from revenues of the locality available during the fiscal year during which the lease is in effect. Notwithstanding the provisions of § 15.2-5606 or any other provision hereof the authority or the locality leasing the project may contract with a person as sublessee or operator of the project at a compensation to be agreed upon by the parties.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":50008,"edition_id":2,"name":"Public Recreational Facilities Authorities Act","identifier":"56","label":"chapter","depth":3,"order_by":18,"parent_id":49964,"metadata":{"child_laws":17,"child_structures":0},"date_created":"2026-08-02 02:20:07","date_modified":"2026-08-02 12:29:53","permalink":{"id":1386579,"object_type":"structure","relational_id":50008,"identifier":"56","token":"15.2\/IV\/56","url":"\/15.2\/IV\/56\/","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":348856,"structure_id":50008,"section_number":"15.2-5600","catch_line":"Short title","url":"\/15.2-5600\/","token":"15.2\/IV\/56\/15.2-5600","metadata":false},{"id":348857,"structure_id":50008,"section_number":"15.2-5601","catch_line":"Definitions","url":"\/15.2-5601\/","token":"15.2\/IV\/56\/15.2-5601","metadata":false},{"id":348858,"structure_id":50008,"section_number":"15.2-5602","catch_line":"Creation of authorities","url":"\/15.2-5602\/","token":"15.2\/IV\/56\/15.2-5602","metadata":false},{"id":348859,"structure_id":50008,"section_number":"15.2-5603","catch_line":"Board to exercise powers of authority","url":"\/15.2-5603\/","token":"15.2\/IV\/56\/15.2-5603","metadata":false},{"id":348860,"structure_id":50008,"section_number":"15.2-5604","catch_line":"Powers of authority generally","url":"\/15.2-5604\/","token":"15.2\/IV\/56\/15.2-5604","metadata":false},{"id":348861,"structure_id":50008,"section_number":"15.2-5605","catch_line":"Transfers of property, appropriations and contracts by participating localities","url":"\/15.2-5605\/","token":"15.2\/IV\/56\/15.2-5605","metadata":false},{"id":348862,"structure_id":50008,"section_number":"15.2-5606","catch_line":"Acquisition, maintenance and operation of projects; revenues from projects","url":"\/15.2-5606\/","token":"15.2\/IV\/56\/15.2-5606","metadata":false},{"id":348863,"structure_id":50008,"section_number":"15.2-5607","catch_line":"Authority to issue bonds; source of payment","url":"\/15.2-5607\/","token":"15.2\/IV\/56\/15.2-5607","metadata":false},{"id":348864,"structure_id":50008,"section_number":"15.2-5608","catch_line":"Bond resolution; terms, conditions, form and execution of bonds; sale; interim receipts or temporary bonds","url":"\/15.2-5608\/","token":"15.2\/IV\/56\/15.2-5608","metadata":false},{"id":348865,"structure_id":50008,"section_number":"15.2-5609","catch_line":"Trust indenture or agreement to secure payment of bonds","url":"\/15.2-5609\/","token":"15.2\/IV\/56\/15.2-5609","metadata":false},{"id":348866,"structure_id":50008,"section_number":"15.2-5610","catch_line":"Fees, rents and other charges; reserves","url":"\/15.2-5610\/","token":"15.2\/IV\/56\/15.2-5610","metadata":false},{"id":348867,"structure_id":50008,"section_number":"15.2-5611","catch_line":"Moneys received deemed trust funds","url":"\/15.2-5611\/","token":"15.2\/IV\/56\/15.2-5611","metadata":false},{"id":348868,"structure_id":50008,"section_number":"15.2-5612","catch_line":"Remedies of bondholders and trustee","url":"\/15.2-5612\/","token":"15.2\/IV\/56\/15.2-5612","metadata":false},{"id":348869,"structure_id":50008,"section_number":"15.2-5613","catch_line":"Authority to exercise a governmental function; exemption from taxation","url":"\/15.2-5613\/","token":"15.2\/IV\/56\/15.2-5613","metadata":false},{"id":348870,"structure_id":50008,"section_number":"15.2-5614","catch_line":"Bonds legal investments","url":"\/15.2-5614\/","token":"15.2\/IV\/56\/15.2-5614","metadata":false},{"id":348871,"structure_id":50008,"section_number":"15.2-5615","catch_line":"Chapter to constitute complete authority for acts authorized; liberal construction","url":"\/15.2-5615\/","token":"15.2\/IV\/56\/15.2-5615","metadata":false},{"id":348872,"structure_id":50008,"section_number":"15.2-5616","catch_line":"Dissolution of authority; disposition of property","url":"\/15.2-5616\/","token":"15.2\/IV\/56\/15.2-5616","metadata":false}],"previous_section":{"id":348860,"structure_id":50008,"section_number":"15.2-5604","catch_line":"Powers of authority generally","url":"\/15.2-5604\/","token":"15.2\/IV\/56\/15.2-5604","metadata":false},"next_section":{"id":348862,"structure_id":50008,"section_number":"15.2-5606","catch_line":"Acquisition, maintenance and operation of projects; revenues from projects","url":"\/15.2-5606\/","token":"15.2\/IV\/56\/15.2-5606","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5605\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 1962, chapter 393; in 1973, chapter 238; in 1975, chapter 109; in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":[{"id":348862,"section_number":"15.2-5606","catch_line":"Acquisition, maintenance and operation of projects; revenues from projects","order_by":null,"url":"\/15.2-5606\/"}],"permalink":{"id":1386601,"object_type":"law","relational_id":348861,"identifier":"15.2-5605","token":"15.2\/IV\/56\/15.2-5605","url":"\/15.2-5605\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5605\/","token":"15.2\/IV\/56\/15.2-5605","dublin_core":{"Title":"Transfers of property, appropriations and contracts by participating localities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5605","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Each participating locality<\/span> is authorized and empowered:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To transfer jurisdiction<\/span> over, to lease, lend, grant or convey to the authority<\/span> at its request, with or without consideration, such real or personal property as may be necessary or desirable to carry out the purposes of the authority<\/span>, upon such terms and conditions as such participating locality<\/span> shall determine to be for its best interests; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To make appropriations and to provide funds for any purpose of the authority<\/span>, including the acquisition, construction, improvement and operation of any project<\/span> or facilities thereof and payment of principal and interest on its indebtedness; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To enter into contracts<\/span> agreeing to carry out any of the provisions set forth in subdivisions 1 or 2, providing for the operation and maintenance of all or any part of a project<\/span> or otherwise facilitating the construction, development, operation or financing of all or any part of a project<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To enter into leases with the authority<\/span> pursuant to which a project<\/span> or any part thereof is leased to the locality<\/span>. The lease may be for a term ending not later than the end of the then current fiscal year of the locality<\/span> and renewable for additional terms of one fiscal year each or as may be agreed upon by the parties provided that the total of the original term and any renewals shall in no event exceed fifty years. Each renewal shall be at the option of such locality<\/span> and the lease may provide that it is renewed for an additional term if the locality<\/span> fails to cancel the lease in writing on or prior to sixty days before the end of the then current term. Rentals under such lease may be computed at fixed amounts or by a formula based on any factors provided therein and the rentals payable may include provision for all or any part of or a share of the amounts necessary (i) to pay or provide for the expenses of operation and maintenance of a project<\/span>, (ii) to provide for the payment of principal and interest on any bonds<\/span><\/span> of the authority<\/span>, and (iii) to maintain such reserves or sinking funds as may be required by the terms of any contract<\/span> of the authority<\/span> or as may be deemed necessary or desirable by the authority<\/span>. Such payments shall be payable only from revenues of the locality<\/span> available during the fiscal year during which the lease is in effect. Notwithstanding the provisions of § 15.2-5606<\/a> or any other provision hereof the authority<\/span> or the locality<\/span> leasing the project<\/span> may contract<\/span> with a person as sublessee or operator of the project<\/span> at a compensation to be agreed upon by the parties. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRANSFERS OF PROPERTY, APPROPRIATIONS AND CONTRACTS BY PARTICIPATING LOCALITIES\n(\u00a7 15.2-5605)\n\nEach participating locality is authorized and empowered:\n\n1. To transfer jurisdiction over, to lease, lend, grant or convey to the\nauthority at its request, with or without consideration, such real or personal\nproperty as may be necessary or desirable to carry out the purposes of the\nauthority, upon such terms and conditions as such participating locality shall\ndetermine to be for its best interests;\n\n2. To make appropriations and to provide funds for any purpose of the authority,\nincluding the acquisition, construction, improvement and operation of any\nproject or facilities thereof and payment of principal and interest on its\nindebtedness;\n\n3. To enter into contracts agreeing to carry out any of the provisions set forth\nin subdivisions 1 or 2, providing for the operation and maintenance of all or\nany part of a project or otherwise facilitating the construction, development,\noperation or financing of all or any part of a project; and\n\n4. To enter into leases with the authority pursuant to which a project or any\npart thereof is leased to the locality. The lease may be for a term ending not\nlater than the end of the then current fiscal year of the locality and renewable\nfor additional terms of one fiscal year each or as may be agreed upon by the\nparties provided that the total of the original term and any renewals shall in\nno event exceed fifty years. Each renewal shall be at the option of such\nlocality and the lease may provide that it is renewed for an additional term if\nthe locality fails to cancel the lease in writing on or prior to sixty days\nbefore the end of the then current term. Rentals under such lease may be\ncomputed at fixed amounts or by a formula based on any factors provided therein\nand the rentals payable may include provision for all or any part of or a share\nof the amounts necessary (i) to pay or provide for the expenses of operation and\nmaintenance of a project, (ii) to provide for the payment of principal and\ninterest on any bonds of the authority, and (iii) to maintain such reserves or\nsinking funds as may be required by the terms of any contract of the authority\nor as may be deemed necessary or desirable by the authority. Such payments shall\nbe payable only from revenues of the locality available during the fiscal year\nduring which the lease is in effect. Notwithstanding the provisions of §\n15.2-5606 or any other provision hereof the authority or the locality leasing\nthe project may contract with a person as sublessee or operator of the project\nat a compensation to be agreed upon by the parties.\n\nHISTORY: Code 1950, \u00a7 15-714.18; 1962, c. 393, \u00a7 6, \u00a7 15.1-1276; 1973, c.\n238; 1975, c. 109; 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"}}