CHAPTER 408

An Act to amend and reenact §§ 144 (a), 144 (c), as amended, and 144
(j) of Chapter 84, as amended, of the Acts of Assembly of 1918
approved February 7, 1918, which chapter provided a new charter for
the city of Norfolk, and which sections relate, respectively, to the
establishment of the Norfolk Port Authority, changing the name
thereof to Norfolk Port and Industrial Authority, the powers and
duties of such Authority, and the powers of such Authority to secure
the payment of bonds issued by it; and to amend said Chapter 84, as
amended, of the Acts of Assembly of 1918, approved February 7,
1918, by adding thereto a new section, providing that the annual
budget of such Authority shall be included as an appendix to and
printed with the annual budget of the city of Norfolk. rH 192]

Approved March 30, 1960

Be it enacted by the General Assembly of Virginia:

1. That §§ 144 (a), 144 (c), as amended, and 144 (j) of Chapter 34,
as amended, of the Acts of Assembly of 1918, approved February 7, 1918,
be amended and reenacted as follows: _.

§ 144(a). There is hereby created in the city of Norfolk a political
subdivision of the Commonwealth, with such public and corporate powers
as are hereinafter set forth, to be known as the “Norfolk Port And Indus-
trial Authority”. Such authority may sue and be sued, plead and be im-
pleaded, and shall have the power and authority to contract and be con-
tracted with and to exercise and discharge all the powers and duties im-
posed and conferred upon it as hereinafter provided.

§ 144(c). Such * Authority shall have the following powers:

(a) To adopt and use a corporate seal, and to alter the same at its
pleasure.

(b) To acquire, hold and dispose of such personal property as may be
necessary for its purpose.

(c) To acquire by purchase or lease, on such terms and conditions,
and in such manner as it may deem proper, except by condemnation, or by
gift, such real property or such rights, easements or estates therein, as may
be necessary for its purposes, and to sell, lease and dispose of the same, or
any portion thereof or interest therein, whenever it shall become expedient

O So.

(d) To acquire, lease, construct or maintain and operate, landings,
wharves, docks and piers, commodity elevators, and the approaches to and
appurtenances thereof, tracks, spurs, crossings, switchings, terminals,
warehouses and terminal facilities of every kind and description necessary
or useful in the transportation and storage of goods, wares and mer-
chandise, to perform any and all services at said facilities in connection
with the receipt, delivery, shipment and transfer in transit, weighing,
marking, tagging, ventilating, fumigating, refrigerating, icing, storing
and handling of goods, wares and merchandise, to prescribe and collect
charges from vessels coming into or using any landings, wharves, docks,
piers, and commodity elevators operated and maintained by said Author-
ity and from persons using any of the other facilities of the Authority,
and to lease any and all of such facilities or any concessions properly inci-
dent thereto to any person, firm or corporation for the maintenance and
operation of any and all of such facilities on such terms and conditions as
it may deem proper.

(e) To acquire, purchase, construct, lease, operate, maintain and
undertake, when and as authorized by the council of the city of Norfolk
by formal ordinance, any wholesale market facility for merchants, dealers
and farmers engaged in the marketing of perishable farm produce, fruits,
vegetables, poultry, eggs, horticultural products, dairy products, meats,
sea food, dry groceries, frozen foods and in the operation of freezing and
prepackaging plants and in the furnishing of baskets and containers for
farm produce and other articles handled at said market, to make charges
for the use thereof with such facility being classed as a public utility
within the meaning of this act. oy

(f) To acquire, purchase, construct, lease, operate, maintain and
undertake any passenger bus * , railroad passenger or airline passenger
terminal facility and to make charges for the use thereof.

Before the powers set forth in this paragraph are exercised by the
Authority prior approval of the council shall be first obtained.

(z) To acquire, for the purpose of encouraging major industry and
manufacturing, real property and to construct thereon any structures, 1n-
cluding all equipment, appurtenances and accessories necessary or ap-
propriate for such uses and purposes, and to sell or lease the same, or any
part thereof, for industrial or manufacturing uses and purposes. The
authority granted in this paragraph shall not be exercised in any case
where the aggregate cost of land and structures for any single project is
less than $250,000.00. * oo.

(h) To maintain and operate any airport and air navigational
facilities now or hereafter owned by the city of Norfolk with the same
powers and authority thereover in the operation and maintenance thereof
that said city may have, subject, however, to the provisions of Section
144 (d).

(i) To make capital improvements on any airport and air naviga-
tional facility now or hereafter owned by the city of Norfolk and trans-
ferred to said Authority to operate and maintain, with the same powers
to issue its bonds therefor as it has for its other purposes, subject to the
approval of the council of the city of Norfolk.

(j) To foster and stimulate the commerce of the Port of Norfolk
and the shipment of freight through such port and to investigate and
handle matters pertaining to all transportation rate structures affecting
the commerce of the port.

(k) To establish, acquire, lease, maintain and operate, within the
corporate limits of the city, a public transportation system, when and as
authorized by the council of the city of Norfolk.

To extend the operation and maintenance of such transportation
system in territory adjoining the city of Norfolk when and as authorized
so to do by the governing body of the political subdivision in which extended
and as otherwise provided by law.

(1) To establish, acquire, lease, maintain and operate such other
public utilities as may be required of said Port Authority by the council of
the city of Norfolk and as may be otherwise authorized by law.

(m) To acquire any or all places which are used or are to be used
for the parking or storage of vehicles by the public and which, upon the
effective date of this act, are owned by the city of Norfolk or the Norfolk
Redevelopment and Housing Authority or, whether or not so owned, are
situated within the boundaries of the redevelopment projects of the
Norfolk Redevelopment and Housing Authority known as Downtown
Redevelopment Project North, VA-R-8, Downtown Redevelopment Project
South, VA-R-9, and Atlantic City Redevelopment Project, VA-R-1, and to
acquire places for the parking or storage of vehicles by the public which
are situated south of Water Street, in the city of Norfolk, irrespective of
ownership; to operate and maintain such places; to authorize or permit
others to use, operate or maintain such places upon such terms and condi-
tions as it may prescribe; to charge or authorize the charging of compen-
sation for the parking or storage of vehicles at or in such places; and to
accept from others donations of money or other property, or the right to
use such property, to aid, in whole or in part, in the acquisition, mainte-
nance and operation of such places. Before the powers set forth in this
paragraph are exercised by the Authority prior approval of the council
shall be first obtained.

The power of the Authority to operate facilities for the parking or
storage of vehicles by the public is limited to the places acquired under
this paragraph.

* (n) To fix and charge tolls, fees and other charges for the use of,
or for services rendered by, any of the facilities it is authorized here-
under to maintain and operate.

* (0) To appoint and employ such officers, agents and employees as
may be necessary to carry out the purposes of said Authority, to fix their
compensation and to prescribe their duties.

* (p) To do all other acts and things which may be reasonably neces-
sary and convenient to carry out the purposes and powers given herein.

The powers conferred upon the Authority by this section except the
powers conferred by clauses (h), (i), (j), and (k) of this section shall be
exercised solely within the corporate limits of the city of Norfolk; pro-
vided further that rentals and charges for any and all facilities constructed
and/or operated pursuant to clauses (f) and (g) shall, as near as possible,
be at commercial rates for like facilities or services, and include a sum
equivalent to real estate taxes at current rates on such property.

Whenever in this act approval of the council of the city of Norfolk is
required to enable the Norfolk Port And Industrial Authority to exercise
any. power herein granted it, such approval shall be only by a formal
ordinance.

§ 144 (j). In order to secure the payment of such bonds or other
obligations the Authority shall have power by provision or provisions
included in any resolution authorizing such bonds or in any indenture
made to secure their payment:

(a) To pledge all or any part of its gross or net rents, fees or rev-
enues to which its right then exists or may thereafter come into existence.

(b) To mortgage all or any part of its real or personal property, then
owned or thereafter acquired.

(c) To covenant against pledging all or any part of its rents, fees
and revenues, or against mortgaging all or any part of its real or personal
property, to which its right or title then exists or may thereafter come
into existence or against permitting or suffering any lien on such revenues
or property; to covenant with respect to limitations on its right to sell,
lease or otherwise dispose of any facility or any part thereof; and to
covenant as to what other, or additional debts or obligations may be in-
curred by it.

(d) To covenant as to the bonds to be issued and as to the issuance
of such bonds in escrow or otherwise, and as to the use and disposition of
the proceeds thereof; to provide for the replacement of lost, destroyed or
mutilated bonds; to covenant against extending the time for the payment
of its bonds or interest thereon; and to redeem the bonds, and to covenant
for their redemption and to provide the terms and conditions thereof.

(e) To covenant as to the rents and fees to be charged in the opera-
tion of a facility or facilities, the amount to be raised each year or other
period of time by rents, fees and other revenues, and as to the use and
disposition to be made thereof; to create or to authorize the creation of
special funds for moneys held for construction or operating costs, debt
service, reserves, or other purposes, and to covenant, as to the use and
disposition of the moneys held in such funds.

‘(f) To prescribe the procedure, if any, by which the terms of any
contract with bondholders may be amended or abrogated, the amount of
bonds the holders of which must consent thereto and the manner in which
such consent may be given.

(g) To covenant as to the use of any or all of its real or personal
property; and to covenant as to the maintenance of its real and personal
property, the replacement thereof, the insurance to be carried thereon and
the use and disposition of insurance moneys. .

(h) To covenant as to the rights, liabilities, powers and duties arising
upon the breach by it of any covenant, condition, or obligation; and to
covenant and prescribe as to events of default and terms and conditions
upon which any or all of its bonds or obligations shall become or may be
declared due before maturity, and as to the terms and conditions upon
which such declaration and its consequences may be waived.

(i) To vest in a trustee or trustees or the holders of bonds or any
proportion of them the right to enforce the payment of the bonds or any
covenant securing or relating to the bonds; to vest in a trustee or trustees
the right, in the event of a default by said Authority, to take possession
and use, operate and manage any facility or part thereof, and to collect
the rents and revenues arising therefrom and to dispose of such moneys
in accordance with the agreement of the Authority with said trustee; to
provide for the powers and duties of a trustee or trustees or the holders
of bonds or any proportion of them who may enforce any covenant or
rights securing or relating to the bonds.

(j) To exercise all or any part or combination of the powers herein
granted; to make covenants other than and in addition to the covenants
herein expressly authorized, of like or different character; to make such
covenants and to do any and all such acts and things as may be necessary
or convenient or desirable in order to secure its bonds, or in the absolute
discretion of said Authority, as will tend to make the bonds more market-
able notwithstanding that such covenants, acts or things may not be
enumerated herein.

Before any of the powers set forth in paragraphs lettered (a), (b)
and (c) of this section are exercised by the Authority prior approval of
the council shall be first obtained.

2. That Chapter 34, as amended, of the Acts of Assembly of 1918,
approved February 7, 1918, be amended by adding thereto a new section
numbered 144 (q) to read as follows:

§ 144 (q). For the purpose of information only, the annual budget
of the Authority, in the same detail as the annual budgets of the depart-
ments of the city of Norfolk, shall be included as an appendiz to and
printed with the annual budget of the city.

38. An emergency exists and this act is in force from its passage.