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2018 SESSION
18104348DBe it enacted by the General Assembly of Virginia:
1. That §§ 3, 20, 28, and 29 of Chapter 638 of the Acts of Assembly of 2010 are amended and reenacted as follows:
§ 3. Definitions.
As used in this act, the following words and terms have the following meanings unless a different meaning clearly appears from the context:
"Act" means the New River Valley Emergency Communications Regional Authority Act.
"Allocation formula" means a formula, developed and adopted by the Board, for allocating each participating political subdivision's annual contribution to the annual budget.
"Annual deficit budget" means the amount
of budgeted expenditures in excess of anticipated
revenues from necessary each fiscal
year for the payment of operations or capital budgets.
"Annual contribution" means the portion of the annual budget attributable to each participating political subdivision each fiscal year. "Annual contribution" includes either (i) each participating political subdivision's share of the annual budget allocated under the allocation formula or (ii) a one-quarter share of the annual budget that each of the participating political subdivisions shall pay if the participating political subdivisions have not unanimously approved an allocation formula on or before July 1, 2019, or, in any year in which the allocation formula is presented for approval by the participating political subdivisions, July 1.
"Authority" means the New River Valley Emergency Communications Regional Authority created by this Act.
"Board" means the governing body of the Authority.
"Bonds" means any bonds, notes, debentures, grant obligations, or other evidence of financial indebtedness issued by this Authority pursuant to this Act.
"Commonwealth" means the Commonwealth of Virginia.
"Facility" means any and all buildings, structures, or facilities purchased, constructed, or otherwise acquired or operated by the Authority pursuant to the provisions of this Act. Any facility may consist of or include any or all buildings or other structures, improvements, additions, extensions, replacements, machinery, or equipment, together with appurtenances, lands, rights in land, water rights, franchises, furnishings, landscaping, utilities, roadways, or other facilities necessary or desirable in connection therewith or incidental thereto.
"Participating political subdivisions" means the Towns of Blacksburg and Christiansburg, the County of Montgomery, and Virginia Polytechnic Institute and State University or any other political subdivision that may join or has joined the Authority pursuant to §§ 4 and 5 of this Act.
"Political subdivision" means a county, city, town, public body, public authority, institution (including an institution of higher education), or commission of the Commonwealth.
"University" means Virginia Polytechnic Institute and State University.
§ 20. Annual deficit.
The Board shall have full authority to adopt its operating and capital budgets annual budget on an annual
fiscal year (July 1 through June 30) basis, and to amend the same from
time to time, and
for the annual deficit to be divided among all participating political
subdivisions. The Board shall have
full authority to develop and adopt an
allocation formula. The Board shall present the allocation formula to the
participating political subdivisions on or before February 1, 2019. The
participating political subdivisions shall consider the allocation
formula on or before May
1, 2019. If the participating
political subdivisions unanimously approve
the allocation formula,
each shall pay its annual contribution as
allocated by the allocation formula.
In the event that the
participating political subdivisions do not unanimously approve
the allocation formula on or before July 1, 2019, each participating political
subdivision shall contribute one-quarter
of the Authority's annual budget for
fiscal year 2019 and for all following fiscal years unless and until an allocation
formula is unanimously approved by
the participating political subdivisions.
Once unanimously
approved by the participating political
subdivisions, the Board may use the allocation formula each year to allocate
responsibility for payment of the annual
budget among the
participating political subdivisions. The Board shall have full authority to
amend and revise the allocation
formula, but any amendment or revision shall be
submitted to and unanimously approved by the
participating political subdivisions on the same dates prior to the fiscal year
in which the allocation formula is scheduled to be amended or revised.
Each participating political subdivision shall contribute its respective one-quarter share of the annual deficit annual contribution each year
and otherwise as required; however, such obligation shall be subject to and
dependent upon annual appropriations being made from time to time by the
governing body of each such respective participating political subdivision, and
as to the university by normal approval of appropriations, and shall not be
deemed to constitute a debt of such participating political subdivisions within
the meaning of Article VII, Section 10 of the Constitution of Virginia, and as
to the university, within the meaning of Article X, Section 9 of the
Constitution of Virginia, or any applicable statutory debt limitation. Should
any participating political subdivision fail to contribute in full its proportionate share of the annual deficit annual contribution it shall
remain a member of the Authority, but its representative on the Board shall not
be entitled to cast a vote on any Authority matter until that participating
political subdivision's share of the annual
deficit annual contribution
has been paid in full. Further, should any participating political subdivision
fail to contribute in full its proportionate share of
the annual deficit annual contribution,
the Authority shall have a lien on any share of the Authority's profit or
surplus revenues otherwise entitled to be distributed to the participating
political subdivision. A participating political subdivision may contribute a
portion or all of its share of the annual
deficit annual contribution
through "in-kind" contributions, subject to the approval of such
contribution and valuation by the Authority.
§ 28. Withdrawal of membership.
A participating political subdivision may withdraw its
membership in the Authority at the end of any fiscal year if the withdrawing
participating political subdivision has given notice to the Authority and all
other participating political subdivisions of its intention to withdraw at
least one year before the end of such fiscal year and the withdrawing
participating political subdivision has paid in full its
share of the annual deficit
annual contribution, if any, provided that no participating
political subdivision may withdraw its membership in the Authority if the
Authority has any outstanding debt without written approval of each
participating political subdivision. As used in this section, the term
"debt" shall mean a monetary obligation, whether general or limited
in any way, to repay a loan or bond, or any long-term obligation, whether
absolute or contingent in any way, to refund or reimburse any agency or entity
for grant funds received by the Authority.
§ 29. Dissolution of Authority.
Whenever it shall appear to the Board or to all participating political subdivisions that the need for the Authority no longer exists, all participating political subdivisions may petition the Circuit Court of Montgomery County, Virginia, for the dissolution of the Authority. If the court determines that the need for the Authority as set forth in this Act no longer exists and that all debts and other obligations of any kind have been fully paid or provided for:
1. The Court shall enter an order dissolving the Authority; and
2. The remaining assets of the Authority shall be distributed
to the participating political subdivisions in proportion to their respective shares of the annual deficit annual contribution less any
amounts owed to the Authority by such participating political subdivision.
Each participating political subdivision and all holders of the Authority's bonds shall be made parties to any such proceeding and shall be given notice as provided by law. Any party defendant may reply to such petition at any time within six months after the filing of the petition. An appeal from the final judgment of the court shall lie to the Supreme Court of Virginia.