10.1-641 - Powers of Board in aid of the provisions of § 10.1-638. - Virginia Statutes

§ 10.1-641. Powers of Board in aid of the provisions of § 10.1-638.

The Board shall have the following powers to effectuate the provisions of §10.1-638 B:

1. To expend funds from the revolving fund for field surveys andinvestigations, notwithstanding the possibility that the Board maysubsequently determine that the proposed investment is not feasible.

2. To make and execute contracts and other instruments necessary orconvenient to the construction, improvement, operation and maintenance offacilities.

3. To make agreements with and act as agent for the United States, or any ofits agencies, or for this Commonwealth or any of its agencies, or any localgovernment in connection with the acquisition, construction, maintenance,operation, or administration of any project in which the Board has investedfunds; to accept donations, gifts, and contributions in money, services,materials, or otherwise, from the United States or any of its agencies, orfrom this Commonwealth or any of its agencies or from any other source; andto use or expend such moneys, services, materials, or other contributions incarrying on its investment function.

4. To obtain options upon and to acquire, by purchase, exchange, lease, gift,grant, bequest, devise, or otherwise, any property, real or personal, orrights or interests therein, and improve any properties acquired.

(1970, c. 591, § 21-11.13; 1988, c. 891.)