CHAPTER 173

An Act to amend and reenact § 62-106.7, as amended, of the Code of
Virginia, by permitting the Virginia State Ports Authority to issue
revenue bonds for certain purposes, and to lease real and personal
property under certain conditions and to incur indebtedness in improv-
ing, repairing, maintaining or adding to the same. (H 313]

Approved March 4, 1958

Be it enacted by the General Assembly of Virginia:

1. That § 62-106.7, as amended, of the Code of Virginia, be amended and
reenacted as follows:

§ 62-106.7. Through the Board, the State of Virginia may engage in
promoting, developing, constructing, equipping, maintaining, and operat-
ing the harbors or seaports within the State, or its jurisdiction, by means
of acquiring or constructing, maintaining and operating at such seaports
or harbors water craft and terminal facilities necessary or useful in con-
nection therewith. The Authority is charged with the accomplishment of
the following general purposes, all or any of them, which are intended to
rOaden and not to restrict, any other powers given to it in this chapter,
namely :

(a) To develop and improve the harbors or seaports of this State for
the handling of water-borne commerce from and to any part of the State
of Virginia and other states and foreign countries;

(b) To acquire, construct, equip, maintain, develop and improve such
harbors or seaports and their port facilities and to issue revenue bonds for
these purposes;

(c) To foster and stimulate the shipment of cargoes and commerce
through such ports, whether originating within or without the State of
Virginia, including the investigation and handling of matters pertaining
to all transportation rates and rate structures affecting the same;

(d) To compile and disseminate in a single publication, so far as
practicable, all port charges, rules and practices in effect at the several
ports in this State;

(e) To cooperate with the United States of America, and any agency,
department, corporation or instrumentality thereof, in the maintenance,
development, improvement and use of such harbors and seaports;

(f) To accept funds and property from persons, counties, cities and
towns, and to use the same in such manner, within the purposes of the
Authority, as shall be stipulated by the grantor, and to act as agent or
instrumentality for any of such persons, counties, cities or towns in any
matter coming within the general purposes of such Authority; counties,
cities and towns are hereby authorized to make grants to the Authority for
its purposes and to appoint it as agent;

(g) To act as agent for the United States of America, or any agency,
department, corporation or instrumentality thereof, in any matter coming
within the purposes or powers of the Authority;

(gl) To issue revenue bonds for the acquisition, construction, recon-
struction or control of harbors, seaports and their port facilities;

(h) And in general to do and perform any act or function which may
tend to or be useful toward the development and improvement of the
harbors and seaports of this State, and to the increase of commerce, foreign
and domestic, through its harbors and seaports;

‘(i) But the Authority shall not be authorized or empowered to expend
funds appropriated by the General Assembly on, nor to incur any indebt-
edness on account of, improvement, repair, maintenance, or addition to real
or personal property belonging to anyone other than the Authority or the
Commonwealth of Virginia, unless the use of such property is guaranteed
to the Authority, or the Commonwealth of Virginia by a lease, extending
Beyond the useful life of the improvement, repair, maintenance or addition
or of any new facility erected thereon.