STATE STATUTES & CODES
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VIRGINIA STATUTES AND CODES
15.2-6202 - Duties of Authority; governmental functions.
§ 15.2-6202. Duties of Authority; governmental functions.
A. The Authority shall provide financial support (i) for the purchase of realestate, construction of buildings for sale or lease, installation ofutilities and any other support improvements it deems necessary, includingflood control dams, and (ii) for direct loans and grants to privatefor-profit basic employers. The Authority shall also apply for matching fundsfrom the state or federal government, or the private sector. All such loansand grants may be managed by the Fifth Planning District Commission.
B. The exercise of the powers granted by this chapter shall be in allrespects for the benefit of the inhabitants of the Commonwealth, particularlythe County of Alleghany and the Town of Clifton Forge; for the increase oftheir commerce; and for the promotion of their safety, health, welfare,convenience and prosperity.
C. For purposes of this chapter, "Alleghany-Highlands Region" includes theCounty of Alleghany and the Town of Clifton Forge.
(1993, c. 982, § 15.1-1663; 1997, c. 587; 2006, c. 861.)