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1997 SESSION

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961276386
HOUSE BILL NO. 1251 Offered January 22, 1996 A BILL to amend the Code of Virginia by adding a section numbered 36-4.2, relating to redevelopment and housing authorities. ---------- Patron-- O'Brien ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 36-4.2 as follows:

§ 36-4.2. Proceedings for dissolution.

A. Whenever it appears to the governing body of a county or city which has activated a redevelopment and housing authority pursuant to this article that the need, as provided in § 36-4, for such authority in the county or city in which it was created no longer exists, then upon petition by the governing body to the circuit court for such county or city, and upon the production of satisfactory evidence in support of such petition, the court may enter an order providing for the dissolution of such authority in the county or city and approving a plan for the completion of the business of the authority, the payment or assumption of its obligations, and the transfer of its assets.