15.2-5431.12 - Contracts relating to use of systems. - Virginia Statutes

§ 15.2-5431.12. Contracts relating to use of systems.

An authority may make and enter into all contracts or agreements, as theauthority may determine, which are necessary or incidental to the performanceof its duties and to the execution of the powers granted by this chapter, onsuch terms and conditions as the authority may approve. The contract shall besubject to such provisions, limitations or conditions as may be contained inthe resolution of the authority authorizing revenue bonds of the authority orthe provisions of any trust agreement securing such bonds. Such contract mayprovide for the collecting of fees, rates or charges for the services andfacilities rendered to a subscriber thereof services provided by theauthority and for the enforcement of delinquent charges for such services andfacilities. The provisions of the contract and of any resolution of thegoverning body shall not be repealed so long as any of the revenue bondsissued under the authority of this chapter are outstanding and unpaid. Theprovisions of the contract, and of any resolution enacted pursuant thereto,shall be for the benefit of the bondholders.

(2003, c. 643.)