{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/5.1-168.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/5.1-168.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/5.1-168.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/5.1-168.html"}],"law_id":366573,"edition_id":2,"section_id":366573,"structure_id":52234,"section_number":"5.1-168","catch_line":"Revenues","history":"2001, c. 342.","full_text":"The Authority is hereby authorized to fix, revise, charge and collect fees or other charges for the use of the airports and to contract with any person, partnership, association or corporation desiring the use of any part thereof, including the right-of-way adjoining the airports for placing thereon telephone, telegraph, electric light or power lines, and to fix the terms, conditions, rents and fees or other charges for such use. Such fees or other charges shall be so fixed and adjusted in respect of the aggregate of fees or other charges from the airports as to provide a fund sufficient with other revenues, if any, (i) to pay the cost of maintaining, repairing and operating the airports, (ii) to pay the principal of and interest on such bonds as the same shall become due and payable, and (iii) to create reserves for such purposes. The fees and other charges and all other revenues derived from the airports, except such part thereof as may be necessary to pay such cost of maintenance, repair and operation and provide such reserves as may be provided for in the resolution authorizing the issuance of such bonds or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or such trust agreement in a sinking fund which is hereby pledged to, and charged with, the payment of the principal of and the interest on such bonds as the same shall become due, and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made. The fees and other charges and other revenues or other moneys so pledged and thereafter received by the Authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Authority, irrespective of whether such parties have notice thereof. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the Authority. The use and disposition of moneys to the credit of such sinking fund shall be subject to the provisions of the resolution authorizing the issuance of such bonds or of such trust agreement. Except as may otherwise be provided in such resolution or such trust agreement, such sinking fund shall be a fund for all such bonds without distinction or priority of one over another.\n\n","order_by":null,"text":{"0":{"id":1364888,"text":"The Authority is hereby authorized to fix, revise, charge and collect fees or other charges for the use of the airports and to contract with any person, partnership, association or corporation desiring the use of any part thereof, including the right-of-way adjoining the airports for placing thereon telephone, telegraph, electric light or power lines, and to fix the terms, conditions, rents and fees or other charges for such use. Such fees or other charges shall be so fixed and adjusted in respect of the aggregate of fees or other charges from the airports as to provide a fund sufficient with other revenues, if any, (i) to pay the cost of maintaining, repairing and operating the airports, (ii) to pay the principal of and interest on such bonds as the same shall become due and payable, and (iii) to create reserves for such purposes. The fees and other charges and all other revenues derived from the airports, except such part thereof as may be necessary to pay such cost of maintenance, repair and operation and provide such reserves as may be provided for in the resolution authorizing the issuance of such bonds or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or such trust agreement in a sinking fund which is hereby pledged to, and charged with, the payment of the principal of and the interest on such bonds as the same shall become due, and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made. The fees and other charges and other revenues or other moneys so pledged and thereafter received by the Authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Authority, irrespective of whether such parties have notice thereof. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the Authority. The use and disposition of moneys to the credit of such sinking fund shall be subject to the provisions of the resolution authorizing the issuance of such bonds or of such trust agreement. Except as may otherwise be provided in such resolution or such trust agreement, such sinking fund shall be a fund for all such bonds without distinction or priority of one over another.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":52234,"edition_id":2,"name":"Metropolitan Washington Airports Authority","identifier":"10","label":"chapter","depth":2,"order_by":13,"parent_id":52221,"metadata":{"child_laws":27,"child_structures":0},"date_created":"2026-08-02 02:56:23","date_modified":"2026-08-02 12:27:53","permalink":{"id":1460623,"object_type":"structure","relational_id":52234,"identifier":"10","token":"5.1\/10","url":"\/5.1\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52221,"edition_id":2,"name":"Aviation","identifier":"5.1","label":"title","depth":1,"order_by":9,"parent_id":null,"metadata":{"child_laws":218,"child_structures":28},"date_created":"2026-08-02 02:56:16","date_modified":"2026-08-02 12:27:49","permalink":{"id":1460301,"object_type":"structure","relational_id":52221,"identifier":"5.1","token":"5.1","url":"\/5.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":366555,"structure_id":52234,"section_number":"5.1-152","catch_line":"Definitions","url":"\/5.1-152\/","token":"5.1\/10\/5.1-152","metadata":false},{"id":366556,"structure_id":52234,"section_number":"5.1-153","catch_line":"Metropolitan Washington Airports Authority created","url":"\/5.1-153\/","token":"5.1\/10\/5.1-153","metadata":false},{"id":366557,"structure_id":52234,"section_number":"5.1-154","catch_line":"Acquisition of airports; approval","url":"\/5.1-154\/","token":"5.1\/10\/5.1-154","metadata":false},{"id":366558,"structure_id":52234,"section_number":"5.1-155","catch_line":"Membership; terms; officers","url":"\/5.1-155\/","token":"5.1\/10\/5.1-155","metadata":false},{"id":366559,"structure_id":52234,"section_number":"5.1-156","catch_line":"Powers and duties of the Authority","url":"\/5.1-156\/","token":"5.1\/10\/5.1-156","metadata":false},{"id":366560,"structure_id":52234,"section_number":"5.1-157","catch_line":"Authority rules and regulations; penalty","url":"\/5.1-157\/","token":"5.1\/10\/5.1-157","metadata":false},{"id":366561,"structure_id":52234,"section_number":"5.1-158","catch_line":"Police","url":"\/5.1-158\/","token":"5.1\/10\/5.1-158","metadata":false},{"id":366562,"structure_id":52234,"section_number":"5.1-159","catch_line":"Operation of foreign trade zone","url":"\/5.1-159\/","token":"5.1\/10\/5.1-159","metadata":false},{"id":366565,"structure_id":52234,"section_number":"5.1-160","catch_line":"Acquisition of property; eminent domain","url":"\/5.1-160\/","token":"5.1\/10\/5.1-160","metadata":false},{"id":366566,"structure_id":52234,"section_number":"5.1-161","catch_line":"Revenue bonds","url":"\/5.1-161\/","token":"5.1\/10\/5.1-161","metadata":{"court_decisions":""}},{"id":366567,"structure_id":52234,"section_number":"5.1-162","catch_line":"Refunding bonds","url":"\/5.1-162\/","token":"5.1\/10\/5.1-162","metadata":{"court_decisions":""}},{"id":366568,"structure_id":52234,"section_number":"5.1-163","catch_line":"Pledge of funds","url":"\/5.1-163\/","token":"5.1\/10\/5.1-163","metadata":{"court_decisions":""}},{"id":366569,"structure_id":52234,"section_number":"5.1-164","catch_line":"Marketability of bonds","url":"\/5.1-164\/","token":"5.1\/10\/5.1-164","metadata":{"court_decisions":""}},{"id":366570,"structure_id":52234,"section_number":"5.1-165","catch_line":"Bonds as legal investments and security for public deposits","url":"\/5.1-165\/","token":"5.1\/10\/5.1-165","metadata":{"court_decisions":""}},{"id":366571,"structure_id":52234,"section_number":"5.1-166","catch_line":"Credit of Commonwealth and political subdivisions not pledged","url":"\/5.1-166\/","token":"5.1\/10\/5.1-166","metadata":false},{"id":366572,"structure_id":52234,"section_number":"5.1-167","catch_line":"Trust agreement","url":"\/5.1-167\/","token":"5.1\/10\/5.1-167","metadata":{"court_decisions":""}},{"id":366573,"structure_id":52234,"section_number":"5.1-168","catch_line":"Revenues","url":"\/5.1-168\/","token":"5.1\/10\/5.1-168","metadata":{"court_decisions":""}},{"id":366574,"structure_id":52234,"section_number":"5.1-169","catch_line":"Trust funds","url":"\/5.1-169\/","token":"5.1\/10\/5.1-169","metadata":{"court_decisions":""}},{"id":366576,"structure_id":52234,"section_number":"5.1-170","catch_line":"Annual audit","url":"\/5.1-170\/","token":"5.1\/10\/5.1-170","metadata":false},{"id":366577,"structure_id":52234,"section_number":"5.1-171","catch_line":"Remedies","url":"\/5.1-171\/","token":"5.1\/10\/5.1-171","metadata":false},{"id":366578,"structure_id":52234,"section_number":"5.1-172","catch_line":"Exemption from taxation","url":"\/5.1-172\/","token":"5.1\/10\/5.1-172","metadata":{"court_decisions":""}},{"id":366579,"structure_id":52234,"section_number":"5.1-173","catch_line":"Jurisdiction of courts; liability for contracts and torts","url":"\/5.1-173\/","token":"5.1\/10\/5.1-173","metadata":false},{"id":366580,"structure_id":52234,"section_number":"5.1-174","catch_line":"Procurement Act exemption","url":"\/5.1-174\/","token":"5.1\/10\/5.1-174","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. United States Ex Rel. Blumenthal-Kahn Electric Ltd. .\u202f.\u202f. ","case_number":"Civ.A. 02-743-A","citation":"219 F. Supp. 2d 710","date":"2002-09-04","url":"https:\/\/www.courtlistener.com\/opinion\/2448140\/united-states-ex-rel-blumenthal-kahn-electric-ltd-partnership-v-american\/","abstract":" .\u202f.\u202f. 219 F.Supp.2d 710 (2002) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"},"1":{"name":" .\u202f.\u202f. Washington-Dulles Transportation, Limited v. Metropolitan .\u202f.\u202f. ","case_number":"01-1095","citation":"263 F.3d 371","date":"2001-08-29","url":"https:\/\/www.courtlistener.com\/opinion\/774715\/washington-dulles-transportation-limited-v-metropolitan-washington\/","abstract":" .\u202f.\u202f. 263 F.3d 371 (4th Cir. 2001) .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"},"2":{"name":" .\u202f.\u202f. Washington-Dulles Transportation, Ltd. v. Metropolitan .\u202f.\u202f. ","case_number":"00-2153, 01-1095","citation":"263 F.3d 371","date":"2001-08-29","url":"https:\/\/www.courtlistener.com\/opinion\/2967455\/washington-dulles-transportation-ltd-v-metropolitan-washington-airports\/","abstract":" .\u202f.\u202f. Reversed and Remanded by published opinion. Judge TRAXLER wrote the opinion, in which Judge MOTZ and .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"}}}},{"id":366581,"structure_id":52234,"section_number":"5.1-175","catch_line":"Act liberally construed","url":"\/5.1-175\/","token":"5.1\/10\/5.1-175","metadata":{"court_decisions":""}},{"id":366582,"structure_id":52234,"section_number":"5.1-176","catch_line":"Repealed","url":"\/5.1-176\/","token":"5.1\/10\/5.1-176","metadata":{"court_decisions":""}},{"id":366583,"structure_id":52234,"section_number":"5.1-177","catch_line":"Inconsistent laws inapplicable","url":"\/5.1-177\/","token":"5.1\/10\/5.1-177","metadata":false},{"id":366584,"structure_id":52234,"section_number":"5.1-178","catch_line":"Repealed","url":"\/5.1-178\/","token":"5.1\/10\/5.1-178","metadata":{"court_decisions":""}}],"previous_section":{"id":366572,"structure_id":52234,"section_number":"5.1-167","catch_line":"Trust agreement","url":"\/5.1-167\/","token":"5.1\/10\/5.1-167","metadata":{"court_decisions":""}},"next_section":{"id":366574,"structure_id":52234,"section_number":"5.1-169","catch_line":"Trust funds","url":"\/5.1-169\/","token":"5.1\/10\/5.1-169","metadata":{"court_decisions":""}},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/5.1-168\/","history_text":"<p>This law was first created in 2001. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0342\">342<\/a> 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.<\/p>","references":false,"refers_to":false,"permalink":{"id":1460689,"object_type":"law","relational_id":366573,"identifier":"5.1-168","token":"5.1\/10\/5.1-168","url":"\/5.1-168\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/5.1-168\/","token":"5.1\/10\/5.1-168","dublin_core":{"Title":"Revenues","Type":"Text","Format":"text\/html","Identifier":"\u00a7 5.1-168","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The Authority is hereby authorized to fix, revise, charge and collect fees or other charges for the use of the <span class=\"dictionary\">airports<\/span> and to <span class=\"dictionary\">contract<\/span> with any <span class=\"dictionary\">person<\/span>, partnership, association or corporation desiring the use of any part thereof, including the right-of-way adjoining the <span class=\"dictionary\">airports<\/span> for placing thereon telephone, telegraph, electric light or power lines, and to fix the terms, conditions, rents and fees or other charges for such use. Such fees or other charges shall be so fixed and adjusted in respect of the aggregate of fees or other charges from the <span class=\"dictionary\">airports<\/span> as to provide a fund sufficient with other revenues, if any, (i) to pay the cost of maintaining, repairing and operating the <span class=\"dictionary\">airports<\/span>, (ii) to pay the principal of and interest on such <span class=\"dictionary\">bonds<\/span> as the same shall become due and payable, and (iii) to create reserves for such purposes. The fees and other charges and all other revenues derived from the <span class=\"dictionary\">airports<\/span>, except such part thereof as may be necessary to pay such cost of maintenance, repair and operation and provide such reserves as may be provided for in the resolution authorizing the issuance of such <span class=\"dictionary\">bonds<\/span> or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or such trust agreement in a sinking fund which is hereby pledged to, and charged with, the payment of the principal of and the interest on such <span class=\"dictionary\">bonds<\/span> as the same shall become due, and the <span class=\"dictionary\">redemption<\/span> price or the purchase price of <span class=\"dictionary\">bonds<\/span> retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made. The fees and other charges and other revenues or other moneys so pledged and thereafter received by the Authority shall immediately be subject to the <span class=\"dictionary\">lien<\/span> of such pledge without any physical delivery thereof or further act, and the <span class=\"dictionary\">lien<\/span> of any such pledge shall be valid and binding as against all parties having claims of any kind in <span class=\"dictionary\">tort<\/span>, <span class=\"dictionary\">contract<\/span> or otherwise against the Authority, irrespective of whether such parties have notice thereof. Neither the resolution nor any trust agreement by which a pledge is created need be filed or recorded except in the records of the Authority. The use and <span class=\"dictionary\">disposition<\/span> of moneys to the credit of such sinking fund shall be subject to the provisions of the resolution authorizing the issuance of such <span class=\"dictionary\">bonds<\/span> or of such trust agreement. Except as may otherwise be provided in such resolution or such trust agreement, such sinking fund shall be a fund for all such <span class=\"dictionary\">bonds<\/span> without distinction or priority of one over another.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREVENUES (\u00a7 5.1-168)\n\nThe Authority is hereby authorized to fix, revise, charge and collect fees or\nother charges for the use of the airports and to contract with any person,\npartnership, association or corporation desiring the use of any part thereof,\nincluding the right-of-way adjoining the airports for placing thereon telephone,\ntelegraph, electric light or power lines, and to fix the terms, conditions,\nrents and fees or other charges for such use. Such fees or other charges shall\nbe so fixed and adjusted in respect of the aggregate of fees or other charges\nfrom the airports as to provide a fund sufficient with other revenues, if any,\n(i) to pay the cost of maintaining, repairing and operating the airports, (ii)\nto pay the principal of and interest on such bonds as the same shall become due\nand payable, and (iii) to create reserves for such purposes. The fees and other\ncharges and all other revenues derived from the airports, except such part\nthereof as may be necessary to pay such cost of maintenance, repair and\noperation and provide such reserves as may be provided for in the resolution\nauthorizing the issuance of such bonds or in the trust agreement securing the\nsame, shall be set aside at such regular intervals as may be provided in such\nresolution or such trust agreement in a sinking fund which is hereby pledged to,\nand charged with, the payment of the principal of and the interest on such bonds\nas the same shall become due, and the redemption price or the purchase price of\nbonds retired by call or purchase as therein provided. Such pledge shall be\nvalid and binding from the time when the pledge is made. The fees and other\ncharges and other revenues or other moneys so pledged and thereafter received by\nthe Authority shall immediately be subject to the lien of such pledge without\nany physical delivery thereof or further act, and the lien of any such pledge\nshall be valid and binding as against all parties having claims of any kind in\ntort, contract or otherwise against the Authority, irrespective of whether such\nparties have notice thereof. Neither the resolution nor any trust agreement by\nwhich a pledge is created need be filed or recorded except in the records of the\nAuthority. The use and disposition of moneys to the credit of such sinking fund\nshall be subject to the provisions of the resolution authorizing the issuance of\nsuch bonds or of such trust agreement. Except as may otherwise be provided in\nsuch resolution or such trust agreement, such sinking fund shall be a fund for\nall such bonds without distinction or priority of one over another.\n\nHISTORY: 2001, c. 342.","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"}}