CHAPTER 681

An Act to amend and reenact § 29-194, as amended, of the Code of
Virginia, relating to permitting municipalities to require that dogs
be confined, restricted or penned up.
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 circulation of traffic in, through and from the
municipality, and endangers the health, safety and welfare of the general
public; that this traffic congestion is not capable of being adequately
abated except by provisions for sufficient off-street parking facilities;
that adequate off-street parking facilities have not been heretofore pro-
vided; and that the enactment of the provisions of this act is hereby
declared to be a public necessity.

8 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
= 7 whom the powers given by this act to the Authority shall be given

y law.

(a-1) The word “bonds” or the words “revenue bonds’ shall mean
revenue bonds, revenue refunding bonds or notes of the Authority issued
under the provisions of this act.

The word “cost” as applied to parking facilities or to extensions
or additions thereto shall include the cost of construction or reconstruc-
tion, 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 structures 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, administra-
tive 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 Authority 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 Pulaski or
the town of Wytheville 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 buses, waiting rooms, lockers, and
offices catering primarily to those using such parking facilities, and all
facilities appurtenant 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
Commonwealth 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 expiring one, two, three, four, and five years, respectively, from
the date of appointment, the term of each such member to he desienated
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 an-
other as Vice-Chairman and shall also select a Secretary and a Treasurer
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 bylaws 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 Author-
ity 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 Authority.
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 bylaws 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 hereinafter
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 acquire in the name of the Authority by gift, or purchase,
any lands or rights in lands and interest therein, and to acquire such
personal property, as it may deem necessary in connection with the con-
struction, reconstruction, improvement, extension, enlargement or oper-
ation of any parking facilities;

(j) 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 enter-
prise involving the sale or dispensing of any product or commodity used
a or for the servicing of motor vehicles shall be conducted on any space

ereon;

(k) 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 con-
sulting 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 payable solely from funds made available under the provisions
of this act;

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

(m) nothing in this act shall be construed as authorizing the Author-
ity 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 parking 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 six per centum (6%) per an-
num, 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 principal
and interest, which may be at any bank or trust company within or
without the Commonwealth. In case any officer whose signature or a
facsimile 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 pur-
poses the same as if he had remained in office until such delivery. Not-
withstanding 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 determine, 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 regis-
tered 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 therefor at more than six per centum
(6%) 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
disbursed in such manner and under such restrictions, if any, as the
Authority 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
authorizing 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 enone as may be prescribed by such resolution or trust agree-
ment.

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 muti-
lated 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
Commonwealth of Virginia or of any political subdivision, and without
any other proceedings or the happening of other conditions or things than
those proceedings, conditions or things which are specifically required
by this 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 facili-
ties 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 contracts relating to use of the services and
facilities of the parking facilities on such terms as the Authority shall
determine to be proper, which contracts 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 convey 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 convenants setting forth the duties
of the Authority in relation to the construction, reconstruction, equip-
ment, improvement, maintenance, repair, operation and insurance of any
parking facilities, the fixing and revising of rates, rentals, fees and
charges, and the custody, safeguarding and application of all moneys,
and for the employment of consulting engineers in connection with such
construction, reconstruction, improvement, maintenance and operation.
It shall be lawful for any bank or trust company incorporated under the
laws of the Commonwealth which may act as depositary of the proceeds
of bonds or of revenues to furnish such indemnifying bonds or to pledge
such securities as may be required by the Authority. Such resolution or
trust agreement may set forth the rights and remedies of the bond-
holders and of the trustee, if any, and may restrict the individual right
of action by bondholders. Such resolution or trust agreement may contain
such other provisions in addition to the foregoing as the Authority may
deem reasonable and proper for the security of the bondholders. Except
as in this act otherwise provided, the Authority may provide for the
payment of the proceeds of the sale of the bonds and the revenues of
any parking facilities or part thereof to such officer, board or depositary
as it may designate for the custody thereof, and for the method of dis-
bursements 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 otherwise against 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 com-
pany 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 author-
izing jhe 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 herein 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 performance 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, including 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 Taxation—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 func-
tions, and as parking facilities constructed under the provisions of this
act constitute 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.

§ 18. Revenue Refunding Bonds.—The Authority is hereby author-
ized to issue from time to time revenue refunding bonds for the pur-
pose 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 Authority for the combined purpose of (a) refunding any
revenue bonds or revenue refunding bonds of the Authority then out-
standing, including the payment 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
immediately 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 with the requirements of any other law applicable to the
issuance of bonds.

8 17. Construction.—This act, being necessary for the welfare of the
Commonwealth and its inhabitants, shall be liberally construed to effect
the purpose thereof.

. 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.

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