15.2-7201 - Creation; public purpose. - Virginia Statutes

§ 15.2-7201. Creation; public purpose.

There is hereby created a political subdivision of the Commonwealth known asthe BVU Authority.

The BVU Authority is created for the express purpose of receiving, byoperation of this chapter, the powers, assets, and debts of that separatelymanaged and financed division of the City of Bristol, Virginia, heretoforeknown as Bristol Virginia Utilities and to provide the services BristolVirginia Utilities has provided or may lawfully provide. The General Assemblytherefore deems this to be an entity conversion and for all purposes the BVUAuthority is the same entity as Bristol Virginia Utilities, which is herebyconverted to the BVU Authority. The BVU Authority shall exercise the rightsand duties as hereinafter set out to provide the various utility services itcurrently lawfully provides all subject to the limitations as are herein setforth or referenced.

(2010, cc. 117, 210.)