Code of VirginiaTitle 15.2. Counties, Cities and Towns12/16/2018 Chapter 56. Public Recreational Facilities Authorities ActRead Chapter § 15.2-5600Short title § 15.2-5601Definitions § 15.2-5602Creation of authorities § 15.2-5603Board to exercise powers of authority § 15.2-5604Powers of authority generally § 15.2-5605Transfers of property, appropriations and contracts by participating localities § 15.2-5606Acquisition, maintenance and operation of projects; revenues from projects § 15.2-5607Authority to issue bonds; source of payment § 15.2-5608Bond resolution; terms, conditions, form and execution of bonds; sale; interim receipts or temporary bonds § 15.2-5609Trust indenture or agreement to secure payment of bonds § 15.2-5610Fees, rents and other charges; reserves § 15.2-5611Moneys received deemed trust funds § 15.2-5612Remedies of bondholders and trustee § 15.2-5613Authority to exercise a governmental function; exemption from taxation § 15.2-5614Bonds legal investments § 15.2-5615Chapter to constitute complete authority for acts authorized; liberal construction § 15.2-5616Dissolution of authority; disposition of property