{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5606.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5606.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5606.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5606.html"}],"law_id":348862,"edition_id":2,"section_id":348862,"structure_id":50008,"section_number":"15.2-5606","catch_line":"Acquisition, maintenance and operation of projects; revenues from projects","history":"Code 1950, \u00a7 15-714.19; 1962, c. 393, \u00a7 7, \u00a7 15.1-1277; 1997, c. 587.","full_text":"The authority may acquire or construct and maintain and operate any one or more projects under this chapter in such manner as the authority may determine, and the authority may operate each project separately or it may operate one or more projects together. The authority shall have exclusive control over the revenues derived from its operations and may use revenues from one project in connection with any other project. No person shall receive any profit or dividend from the revenues, earnings or other funds or assets of the authority other than for debts contracted, for services rendered, for materials and supplies furnished and for other value actually received by the authority.\n\n","order_by":null,"text":{"0":{"id":1300380,"text":"The authority may acquire or construct and maintain and operate any one or more projects under this chapter in such manner as the authority may determine, and the authority may operate each project separately or it may operate one or more projects together. The authority shall have exclusive control over the revenues derived from its operations and may use revenues from one project in connection with any other project. No person shall receive any profit or dividend from the revenues, earnings or other funds or assets of the authority other than for debts contracted, for services rendered, for materials and supplies furnished and for other value actually received by the authority.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5606\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 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 1997, chapter 587<\/a>.<\/p>","references":[{"id":348861,"section_number":"15.2-5605","catch_line":"Transfers of property, appropriations and contracts by participating localities","order_by":null,"url":"\/15.2-5605\/"}],"refers_to":false,"permalink":{"id":1386605,"object_type":"law","relational_id":348862,"identifier":"15.2-5606","token":"15.2\/IV\/56\/15.2-5606","url":"\/15.2-5606\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5606\/","token":"15.2\/IV\/56\/15.2-5606","dublin_core":{"Title":"Acquisition, maintenance and operation of projects; revenues from projects","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5606","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The authority<\/span> may acquire or construct and maintain and operate any one or more projects<\/span> under this chapter in such manner as the authority<\/span> may determine, and the authority<\/span> may operate each project<\/span> separately or it may operate one or more projects<\/span> together. The authority<\/span> shall have exclusive control over the revenues derived from its operations and may use revenues from one project<\/span> in connection with any other project<\/span>. No person shall receive any profit or dividend from the revenues, earnings or other funds or assets<\/span> of the authority<\/span> other than for debts contracted, for services rendered, for materials<\/span> and supplies furnished and for other value actually received by the authority<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACQUISITION, MAINTENANCE AND OPERATION OF PROJECTS; REVENUES FROM PROJECTS (\u00a7\n15.2-5606)\n\nThe authority may acquire or construct and maintain and operate any one or more\nprojects under this chapter in such manner as the authority may determine, and\nthe authority may operate each project separately or it may operate one or more\nprojects together. The authority shall have exclusive control over the revenues\nderived from its operations and may use revenues from one project in connection\nwith any other project. No person shall receive any profit or dividend from the\nrevenues, earnings or other funds or assets of the authority other than for\ndebts contracted, for services rendered, for materials and supplies furnished\nand for other value actually received by the authority.\n\nHISTORY: Code 1950, \u00a7 15-714.19; 1962, c. 393, \u00a7 7, \u00a7 15.1-1277; 1997, c.\n587.","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"}}