15.2-5610 - Fees, rents and other charges; reserves. - Virginia Statutes

§ 15.2-5610. Fees, rents and other charges; reserves.

The authority is authorized to fix, revise, charge and collect fees, rentsand other charges for the use of any project and the facilities thereof. Thefees, rents and other charges shall be fixed and adjusted so as to providefunds, which when added to other funds, are sufficient to pay: (i) the costof maintaining, repairing and operating the project and (ii) the principaland any interest on the bonds as the same shall become due and payable.Reserves may be accumulated and maintained out of the revenues and receiptsof the authority for extraordinary repairs and expenses and for such otherpurposes as may be provided in any resolution authorizing a bond issue or inany trust indenture securing the authority's bonds. Such fees, rents andcharges shall not be subject to supervision or regulation by any commission,board, bureau or agency of the Commonwealth or any participating locality.

(Code 1950, § 15-714.23; 1962, c. 393, § 11, § 15.1-1281; 1973, c. 238; 1986,c. 442; 1997, c. 587.)