{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5613.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5613.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5613.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5613.html"}],"law_id":348869,"edition_id":2,"section_id":348869,"structure_id":50008,"section_number":"15.2-5613","catch_line":"Authority to exercise a governmental function; exemption from taxation","history":"Code 1950, \u00a7 15-714.26; 1962, c. 393, \u00a7 14, \u00a7 15.1-1284; 1997, c. 587.","full_text":"The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth, for the increase of their commerce, and for the promotion of their safety, health, welfare, convenience and prosperity, and as the operation and maintenance of any project which the authority may undertake will constitute the performance of an essential governmental function, no authority shall be required to pay any taxes or assessments upon any project acquired and constructed by it under the provisions of this chapter. The bonds, notes, certificates or other evidences of debt issued under the provisions of this chapter, their transfer and the income therefrom including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the Commonwealth and by any political subdivision thereof.\n\n","order_by":null,"text":{"0":{"id":1300392,"text":"The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth, for the increase of their commerce, and for the promotion of their safety, health, welfare, convenience and prosperity, and as the operation and maintenance of any project which the authority may undertake will constitute the performance of an essential governmental function, no authority shall be required to pay any taxes or assessments upon any project acquired and constructed by it under the provisions of this chapter. The bonds, notes, certificates or other evidences of debt issued under the provisions of this chapter, their transfer and the income therefrom including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the Commonwealth and by any political subdivision thereof.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5613\/","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":false,"refers_to":false,"permalink":{"id":1386633,"object_type":"law","relational_id":348869,"identifier":"15.2-5613","token":"15.2\/IV\/56\/15.2-5613","url":"\/15.2-5613\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5613\/","token":"15.2\/IV\/56\/15.2-5613","dublin_core":{"Title":"Authority to exercise a governmental function; exemption from taxation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5613","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth, for the increase of their commerce, and for the promotion of their safety, health, welfare, convenience and prosperity, and as the operation and maintenance of any project<\/span> which the authority<\/span> may undertake will constitute the performance of an essential governmental function, no authority<\/span> shall be required to pay any taxes or assessments upon any project<\/span> acquired and constructed by it under the provisions of this chapter. The bonds<\/span><\/span>, notes, certificates or other evidences<\/span> of debt issued under the provisions of this chapter, their transfer and the income therefrom including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the Commonwealth and by any political subdivision thereof.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAUTHORITY TO EXERCISE A GOVERNMENTAL FUNCTION; EXEMPTION FROM TAXATION (\u00a7\n15.2-5613)\n\nThe exercise of the powers granted by this chapter shall be in all respects for\nthe benefit of the inhabitants of the Commonwealth, for the increase of their\ncommerce, and for the promotion of their safety, health, welfare, convenience\nand prosperity, and as the operation and maintenance of any project which the\nauthority may undertake will constitute the performance of an essential\ngovernmental function, no authority shall be required to pay any taxes or\nassessments upon any project acquired and constructed by it under the provisions\nof this chapter. The bonds, notes, certificates or other evidences of debt\nissued under the provisions of this chapter, their transfer and the income\ntherefrom including any profit made on the sale thereof, shall at all times be\nfree and exempt from taxation by the Commonwealth and by any political\nsubdivision thereof.\n\nHISTORY: Code 1950, \u00a7 15-714.26; 1962, c. 393, \u00a7 14, \u00a7 15.1-1284; 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"}}