2006 Code of Virginia § 15.2-5403 - Creation of electric authority; referendum

15.2-5403. Creation of electric authority; referendum.

The governing body of a governmental unit may by ordinance, or the governingbodies of two or more governmental units may by concurrent ordinances oragreement authorized by ordinance of each of the respective governmentalunits, create an electric authority, under any appropriate name and titlecontaining the words "electric authority." Upon compliance with theprovisions of this section and 15.2-5404 and 15.2-5405, the authorityshall be a political subdivision of the Commonwealth and a body politic andcorporate. Any such ordinance shall be adopted in accordance with applicablegeneral or special laws or charter provisions providing for the adoption ofordinances of the particular governmental unit, and shall be published once aweek for two successive weeks prior to adoption in a newspaper of generalcirculation within the governmental unit. The second publication shall not besooner than one calendar week after the first publication.

No governmental unit shall participate as a member of such an authorityunless and until such participation is authorized by a majority of the votersvoting in a referendum held in the governmental unit on the question ofwhether or not the governmental unit should participate in the authority. Thereferendum shall be held as provided in 24.2-682 and 24.2-684. Theforegoing referendum requirement shall not apply to the Town of Elkton if theTown creates an authority by an ordinance that includes articles ofincorporation which comply with the provisions of 15.2-5404 and also setforth a statement that such authority shall have only the Town as its solemember throughout its life.

(1979, c. 416, 15.1-1606; 1997, c. 587; 2006, cc. 929, 941.)