CHAPTER 536

AN ACT providing for the organization of a Parking Authority as a public
body and body politic and corporate by the town of Fairfax, in the
Commonwealth of Virginia; authorizing and empowering the Author-
ity to acquire, construct, reconstruct, equip, improve, extend, enlarge,
maintain, repair and operate off-street parking facilities; providing
for the issuance of revenue bonds of the Parking Authority, payable
solely from revenues, to pay all or any part of the cost of such parking
facilities; granting to the Authority power to acquire necessary real
and personal property and to exercise the power of eminent domain;
providing for the imposition and collection of rates, rentals, fees and
charges for the use of and for the services furnished by the parking
facilities; authorizing the issuance of revenue refunding bonds; ex-
empting from taxation and assessment such bonds and the parking
facilities and the income therefrom; and prescribing the powers and
duties of the Authority in connection with the foregoing and the rights
and remedies of the holders of any bonds issued under the provisions of

this act.
{H 730]
Approved March 29, 1958

Be it enacted by the General Assembly of Virginia:

§ 1. Short Title—This Act shall be known and may be cited as the
“Town of Fairfax Parking Authority Act”.

§ 2. Declaration of Public Necessity.—It is hereby determined and
declared that the free circulation of traffic of all kinds through the streets
of the town of Fairfax in the Commonwealth is necessary to the health,
safety and general welfare of the public, whether residing in the munic-
ipality or traveling to, through or from such municipality in the course of
lawful pursuits; that in recent years the greatly increased use by the public
of motor vehicles of all kinds has caused serious traffic congestion in the
streets of the municipality ; that the parking of motor vehicles in the streets
has contributed to this congestion to such an extent as to constitute at the
present time a public nuisance; that such parking prevents the free cir-
culation of traffic in, through and from the municipality, and endangers
the health, safety and welfare of the general public; that this traffic con-
gestion is not capable of being adequately abated except by provisions for
sufficient off-street parking facilities ; that adequate off-street parking facil-
ities have not been heretofore provided; and that the enactment of the
provisions of this Act is hereby declared to be a public necessity.

§ 3. Definitions.—As used in this Act the following words and terms
shall have the following meanings, unless the context shall indicate another
or different meaning or intent:

(a) The word “Authority” shall mean the Authority created under
the provisions of this Act, or, if the Authority shall be abolished, the board,
body or commission succeeding to the principal functions thereof or to
whom the powers given by this Act to the Authority shall be given by law.

(b) The word “cost” as applied to Parking Facilities or to extensions
or additions thereto shall include the cost of construction or reconstruction,
the cost of all labor, materials, machinery and equipment, the cost of all
lands, property, rights, easements and interests acquired by the Authority
for such construction or reconstruction or the operation thereof, the cost
of demolishing or removing any buildings or structures on land so acquired,
including the cost of acquiring any lands to which such buildings or struc-
tures may be moved, financing charges, interest prior to and during
construction, and, if deemed advisable by the Authority, for one year
after completion of construction, reasonable provision for working capital,
cost of engineering and legal services, cost of plans and specifications,
surveys and estimates of cost and of revenues, administrative expense and
such other expenses as may be necessary or incident to such construction
or reconstruction, the financing thereof and the placing of the Parking
Facilities in operation. Any obligation or expense incurred by the Au-
thority or by the organizing municipality prior to the issuance of bonds
under the provisions of this Act in connection with any of the foregoing
items of cost may be regarded as a part of such cost.
(c) The words “governing body” shall mean the board, commission,
council or other body by whatever name it may be known in which the
general legislative powers of the municipality are vested.

(d) The word “municipality” shall mean the town of Fairfax in the
Commonwealth of Virginia.

(e) The words “Parking Facilities” shall mean and shall include lots,
garages, parking terminals, or other facilities or structures for the off-
street parking of motor vehicles, open to public use for a fee, and may
also include, but without limiting the generality of the foregoing, terminal
facilities for trucks and busses, waiting rooms, lockers, and offices catering
primarily to those using such parking facilities, and all facilities appur-
tenant thereto and all property, rights, easements and interests relating
thereto which are deemed necessary for the construction or operation
thereof; provided, however, the words “parking facilities” shall not mean
or include the sale or dispensing of products used in or for the servicing of
motor vehicles.

§ 4. Creation of the Authority—(a) The governing body of the
municipality may by resolution signify its determination to organize an
Authority under the provisions of this Act. Such resolution may be
adopted only after a public hearing thereon, notice of which hearing shall
be given by publication at least once, not less than 10 days prior to the
date fixed for such hearing, in a newspaper having a general circulation
in the municipality. Such notice shall contain a brief statement of the
substance of the proposed resolution, shall set forth the proposed articles
of incorporation of the Authority and shall state the time and place of the
public hearing to be held thereon. Such municipality shall not be required
to make any other publication of such resolution under the provisions of
any other law.

(b) Such resolution shall include articles of incorporation which shall
set forth:

(1) the name of the Authority;

(2) a statement that such Authority is organized under this Act;

(3) the name of the organizing municipality; and

(4) the names and addresses of the first members of the Authority
appointed by the organizing municipality.

(c) Passage of such resolution by the governing body shall constitute
the Authority a public body and a body politic and corporate of the Com-
monwealth of Virginia.

§ 5. Membership of the Authority—The Authority organized under
the provisions of this Act shall consist of five members selected by the
governing body of the organizing municipality who shall serve for terms
expiring one, two, three, four, and five years, respectively, from the date
of appointment, the term of each such member to be designated by said
governing body. The successor of each member of the Authority shall be
appointed for a term of five years but any person appointed to fill a
vacancy shall be appointed to serve only for the unexpired term and any
member of the Authority may be reappointed.

Each member of the Authority before entering upon his duties shall
take and subscribe an oath or affirmation to support the Constitution of
the United States and of the Commonwealth and to discharge faithfully
the duties of his office and a record of each such oath shall be filed with
the Secretary of the Authority.

The Authority shall select one of its members as Chairman and
another as Vice-Chairman and shall also select a Secretary and a Treas-
urer who may but need not be members of the Authority. The offices of
Secretary and Treasurer may be combined. The terms of office of the
Chairman, Vice-Chairman, Secretary and Treasurer shall be as provided
in the by-laws of the Authority.

A majority of the members of the Authority shall constitute a quorum
and the affirmative vote of a majority of all of the members of the
Authority shall be necessary for any action taken by the Authority. No
vacancy in the membership of the Authority shall impair the right of a
quorum to exercise all the rights and perform all of the duties of the Au-
thority. The members of the Authority shall serve without compensation
but shall be reimbursed for the amount of actual expenses incurred by them
in the performance of their duties.

§ 6. General Grant of Powers.—The Authority created hereunder
shall be deemed to be a public instrumentality exercising public and essen-
tial governmental functions to provide for the public health and welfare,
and each such Authority is hereby authorized and empowered:

(a) to adopt by-laws for the regulation of its affairs and the conduct
of its business;

(b) to adopt an official seal and alter the same at pleasure;

(c) to maintain an office at such place or places as it may designate;

(d) to sue and be sued in its own name, plead and be impleaded;

(e) to construct, reconstruct, equip, improve, extend, enlarge, main-
tain, repair and operate parking facilities within the corporate limits of
the organizing municipality;

(f) to issue revenue bonds of the Authority as hereinafter provided
to pay the cost of such construction, reconstruction, equipment, improve-
ment, extension or enlargement;

(g) to issue revenue refunding bonds of the Authority as herein-
after provided;

(h) to fix and revise from time to time and to charge and collect rates,
rentals, fees and other charges for the services and facilities furnished
by such parking facilities, and to establish and revise from time to time
regulations in respect of the use, operation and occupancy of such parking
facilities or part thereof;

(i) to accept from any authorized agency of the Federal Government
loans or grants for the planning, construction or acquisition of any park-
ing facilities and to enter into agreements with such agency respecting
any such loans or grants, and to receive and accept aid and contributions
from any source of either money, property, labor or other things of value,
to be held, used and applied only for the purposes for which such loans,
grants or contributions may be made;

(j) to acquire in the name of the Authority by gift, purchase or the
exercise of the right of eminent domain in accordance with the laws of
the Commonwealth of Virginia which are applicable to the exercise of
such powers by cities or towns, any lands or rights in lands and interest
therein, and to acquire such personal property as it may deem necessary
in connection with the construction, reconstruction, improvement, exten-
sion, enlargement or operation of any parking facilities; provided, how-
ever, that no property of any corporation itself having the power of
eminent domain may be condemned hereunder; and provided, further,
that the Authority shall not condemn any lands or personal property or
right or interest therein, unless authorized so to do by resolution of the
governing body of the town;

(k) to lease all or any part of such parking facilities upon such terms
and conditions and for such term of years as it may deem advisable to
carry out the provisions of this Act; provided, however, that no enterprise
involving the sale or dispensing of any product or commodity used in or
for the servicing of motor vehicles shall be conducted on any space thereon;

(1) to make and enter into all contracts and agreements necessary or
incidental to the performance of its duties and the execution of its powers
under this Act, including a trust agreement or trust agreements securing
any revenue bonds issued hereunder, and to employ such consulting and
other engineers, superintendents, managers, construction and financial
experts, accountants and attorneys and such employees and agents as
may, in the judgment of the Authority, be deemed necessary, and to fix
their compensation ; provided, however, that all such expenses shall be pay-
able solely from funds made available under the provisions of this Act;

(m) to do all acts and things necessary or convenient to carry out the
powers granted by this Act; and

(n) nothing in this Act shall be construed as authorizing the Authority
or any lessee to furnish or dispense at, or in connection with, any parking
lot or area authorized by this Act, any product or service other than park-
ing of vehicles.

§ 7. Revenue Bonds.—The Authority is hereby authorized to issue
at one time or from time to time, revenue bonds of the Authority for the
purpose of paying the cost of constructing, reconstructing, equipping,
improving, extending or enlarging any one or more parking facilities. The
bonds of each issue shall be dated, shall mature at such time or times not
exceeding forty years from their date or dates and shall bear interest at
such rate or rates not exceeding five per centum (5%) per annum, as
may be determined by the Authority, and may be made redeemable before
maturity, at the option of the Authority, at such price or prices and under
such terms and conditions as may be fixed by the Authority prior to the
issuance of the bonds. The Authority shall determine the form of the
bonds, including any interest coupons to be attached thereto, and the
manner of execution of the bonds, and shall fix the denomination or
denominations of the bonds and the place or places of payment of prin-
cipal and interest, which may be at any bank or trust company within or
without the Commonwealth. In case any officer whose signature or a fac-
simile of whose signature shall appear on any bonds or coupons shall cease
to be such officer before the delivery of such bonds, such signature or such
facsimile shall nevertheless be valid and sufficient for all purposes the same
as if he had remained in office until such delivery. Notwithstanding any
of the other provisions of this Act or any recitals in any bonds issued under
the provisions of this Act, all such bonds shall be deemed to be negotiable
instruments under the laws of this Commonwealth. The bonds may be
issued in coupon or registered form or both, as the Authority may deter-
mine, and provision may be made for the registration of any coupon bonds
as to principal alone and also as to both principal and interest, and for the
reconversion into coupon bonds of any bonds registered as to both principal
and interest. The Authority may sell such bonds in such manner, either
at public or private sale, and for such price, as it may determine to be for
the best interests of the Authority, but no such sale shall be made at a price
so low as to require the payment of interest on the money received there-
for at more than five per centum (5%) per annum, computed with relation
to the absolute maturity or maturities of the bonds in accordance with
standard tables of bond values, excluding, however, from such computation
the amount of any premium to be paid on redemption of any bonds prior
to maturity.

The proceeds of the bonds of each issue shall be used solely for the
purpose for which such bonds shall have been authorized and shall be dis-
bursed in such manner and under such restrictions, if any, as the Author-
ity may provide in the resolution authorizing the issuance of such bonds or
in the trust agreement hereinafter mentioned securing the same. If the
proceeds of such bonds, by error of estimates or otherwise, shall be less
than such cost, additional bonds may in like manner be issued to provide
the amount of such deficit, and, unless otherwise provided in the author-
izing resolution or in the trust agreement securing such bonds, shall be
deemed to be of the same issue and shall be entitled to payment from the
same fund without preference or priority of the bonds first issued for the
same purpose.

The resolution providing for the issuance of revenue bonds, and any
trust agreement securing such bonds, may also contain such limitations
upon the issuance of additional revenue bonds as the Authority may deem
proper, and such additional bonds shall be issued under such restrictions
and limitations as may be prescribed by such resolution or trust agreement.

Prior to the preparation of definitive bonds, the Authority may, under
like restrictions, issue interim receipts or temporary bonds, with or with-
out coupons, exchangeable for definitive bonds when such bonds shall have
been executed and are available for delivery. The Authority may also
provide for the replacement of any bonds which shall become mutilated or
be destroyed or lost.

Bonds may be issued under the provisions of this Act without obtain-
ing the consent of any commission, board, bureau or agency of the Com-
monwealth of Virginia or of any political subdivision, and without any
other proceedings or the happening of other conditions or things than
Act precesdings, conditions or things which are specifically required by
his Act.

Revenue bonds issued under the provisions of this Act shall not be
deemed to constitute a debt of the Commonwealth or of any municipality
or other political subdivision of the Commonwealth or a pledge of the faith
and credit of the Commonwealth or of any municipality or other political
subdivision, but such bonds shall be payable solely from the funds herein
provided therefor and a statement to that effect shall be recited on the face
of the bonds.

§ 8. Revenues.—The Authority shall fix, and may revise from time
to time, rates, rentals, fees and other charges for the use of and for the
services and facilities furnished or to be furnished by any parking facilities
or parts thereof owned or operated by the Authority. Such rates, rentals,
fees and charges shall not be subject to supervision or regulation by any
bureau, board, commission, or other agency of the Commonwealth or of
any political subdivision. Such rates, rentals, fees and charges shall be
fixed and revised so that the revenues of the Authority, together with any
other available funds, will be sufficient at all times (a) to pay the cost of
maintaining, repairing and operating the parking facilities or parts thereof
owned or operated by the Authority, including reserves for such purposes,
and (b) to pay the principal of and the interest on all bonds issued by the
Authority under the provisions of this Act as the same shall become due
and payable and to provide reserves therefor. Notwithstanding any of
the foregoing provisions of this section, the Authority may enter into con-
tracts relating to use of the services and facilities of the parking facilities
on such terms as the Authority shall determine to be proper, which con-
tracts shall not be subject to revision except in accordance with their terms.

§ 9. Trust Agreement.—In the discretion of the Authority, each or
any issue of revenue bonds may be secured by a trust agreement by and
between the Authority and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without
the State. The resolution authorizing the issuance of the bonds or such
trust agreement may pledge the revenues to be received, but shall not con-
vey or mortgage any parking facilities or any part thereof, and may contain
such provisions for protecting and enforcing the rights and remedies of the
bondholders as may be reasonable and proper and not in violation of law,
including covenants setting forth the duties of the Authority in relation to
the construction, reconstruction, equipment, improvement, maintenance,
repair, operation and insurance of any parking facilities, the fixing and re-
vising of rates, rentals, fees and charges, and the custody, safeguarding
and application of all moneys, and for the employment of consulting en-
gineers in connection with such construction, reconstruction, improvement,
maintenance and operation. It shall be lawful for any bank or trust com-
pany incorporated under the laws of the Commonwealth which may act as
depositary of the proceeds of bonds or of revenues to furnish such indem-
nifying bonds or to pledge such securities as may be required by the Author-
ity. Such resolution or trust agreement may set forth the rights and reme-
dies of the bondholders and of the trustee, if any, and may restrict the in-
dividual right of action by bondholders. Such resolution or trust agree-
ment may contain such other provisions in addition to the foregoing as the
Authority may deem reasonable and proper for the security of the bond-
holders. Except as in this Act otherwise provided, the Authority may pro-
vide for the payment of the proceeds of the sale of the bonds and the rev-
enues of any parking facilities or parts thereof to such officer, board or de-
positary as it may designate for the custody thereof, and for the method of
disbursements thereof, with such safeguards and restrictions as it may
determine. All expenses incurred in carrying out the provisions of such
resolution or trust agreement may be treated as a part of the cost of
operation.

All pledges of revenues under the provisions of this Act shall be valid
and binding from the time when such pledge is made. All such revenues
so pledged and thereafter received by the Authority shall immediately be
subject to the lien of such pledges without any physical delivery thereof
or further action, and the lien of such pledges shall be valid and binding
as against all parties having claims of any kind in tort, contract or other-
ye sgponst the Authority, irrespective of whether such parties have notice
thereof.

§ 10. Trust Funds.—All moneys received pursuant to the authority
of this Act shall be deemed to be trust funds, to be held and applied solely
as provided in this Act. Any officer to whom, or bank, trust company or
fiscal agent to which, such moneys shall be paid shall act as trustee of such
moneys and shall hold and apply the same for the purposes hereof, subject
to such regulations as this Act and the resolution authorizing the issuance
of bonds or trust agreement securing such bonds may provide.

§ 11. Remedies.—Any holder of revenue bonds issued under the
provisions of this Act or of any of the coupons appertaining thereto, and
the trustee under any trust agreement, except to the extent the rights here-
in given may be restricted by the resolution authorizing the issuance of such
bonds or such trust agreement, may, either at law or in equity, by suit,
action, mandamus or other proceeding, protect and enforce any and all
rights under the laws of the Commonwealth or granted hereunder or under
such resolution or trust agreement, and may enforce and compel the per-
formance of all duties required by this Act or by such resolution or trust
agreement to be performed by the Authority or by any officer thereof, in-
cluding the fixing, charging and collecting of rates, rentals, fees and
charges for the use of or for the services and facilities furnished by any
Parking Facilities.

§ 12. Exemption from Tazation.—As adequate off-street Parking
Facilities are essential to the health, safety and general welfare of the
public, and as the exercise of the powers conferred by this Act to effect
such purposes constitute the performance of essential municipal functions,
and as parking facilities constructed under the provisions of this Act con-
stitute the performance of essential municipal functions, and as parking
facilities constructed under the provisions of this Act constitute public
property and are used for municipal purposes, the Authority shall not be
required to pay any taxes or assessments upon any such parking facilities
or any part thereof, or upon the income therefrom, and any bonds issued
under the provisions of this Act, their transfer and the income therefrom
(including any profit made on the sale thereof) shall at all times be free
from taxation within the Commonwealth.

§ 13. Revenue Refunding Bonds.—The Authority is hereby author-
ized to issue from time to time revenue refunding bonds for the purpose of
refunding any revenue bonds of the Authority then outstanding, including
the payment of any redemption premium thereon and any interest accrued
or to accrue to the date of redemption of such bonds. The Authority is
further authorized to issue from time to time revenue bonds of the Author-
ity for the combined purpose of (a) refunding any revenue bonds or rev-
enue refunding bonds of the Authority then outstanding, including the pay-
ment of any redemption premium thereon and any interest accrued or to
accrue to the date of redemption of such bonds, and (b) paying all or any
part of the cost of constructing any additional parking facilities or part
thereof, or any improvements, extensions or enlargements of any parking
facilities. The issuance of such bonds, the maturities and other details
thereof, the rights and remedies of the holders thereof, and the rights,
powers, privileges, duties and obligations of the Authority with respect to
the same, shall be governed by the foregoing provisions of this Act in so
far as the same may be applicable.

§ 14. Contributions—The municipality is hereby authorized to
make contributions or advances to an Authority which it organizes under
the provisions of this Act, from any moneys which may be available for
such purpose, to provide for the preliminary expenses of such Authority in
carrying out the provisions of this Act or to pay any item of cost of any
parking facilities.

§ 15. Actions taken by Authority.—Any action taken by the Author-
ity under the provisions of this Act may be authorized by resolution at any
regular or special meeting and each such resolution shall take effect imme-
diately and need not be published or posted.

§ 16. Additional Method.—This Act shall be deemed to provide an
additional and alternative method for the doing of the things authorized
hereby and shall be regarded as supplemental and additional to powers
conferred by other laws, and shall not be regarded as in derogation of or
as repealing any powers now existing under any other law, either general,
special or local; provided, however, that the issuance of revenue bonds or
revenue refunding bonds under the provisions of this Act need not comply
ae the requirements of any other law applicable to the issuance of

onds.

§ 17. Provisions of Act Severable.—The provisions of this Act are
severable, and if any of its provisions shall be held unconstitutional by any
court of competent jurisdiction, the decision of such court shall not affect
or impair any of the remaining provisions. .

2. This act shall be in force on and after October one, nineteen hundred
fifty-eight.