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2001 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 15.2-4903 of the Code of Virginia is amended and reenacted as follows:
§ 15.2-4903. Creation of industrial development authorities.
A. The governing body of any locality in this Commonwealth is hereby authorized
to create by ordinance a political subdivision of the Commonwealth, with such
public and corporate powers as are set forth in this chapter. Any such
ordinance may limit the type and number of facilities which that the authority
may otherwise finance under this chapter, which ordinance of limitation may, from time to time, be
amended. In the absence of any such limitation, an authority shall have all powers granted under this
chapter.
B. The name of the authority shall be the Industrial Development Authority of ... (the blank spaces to be filled in with the name of the locality which created the authority, including the proper designation thereof as a county, city or town).
C. In the Counties of Goochland, and Henrico and Scott, the name of the
authority may be the Economic Development Authority of ... County (the blank space to be filled in with the name
of the locality which that created the authority), if the board of supervisors
of such county so chooses.