[HISTORY: Adopted by the Board of Supervisors of Carroll County as indicated in article histories. Amendments noted where applicable.]
Industrial Development Authority bylaws — See Ch. A243.
[Adopted 8-13-1968 (Ch. 21 of the 1990 Code)]
There is hereby created a political subdivision of the Commonwealth of Virginia with such public and corporate powers as are set forth in the Industrial Development and Revenue Bond Act (§ 15.2-4900 et seq., Code of Virginia 1950, as amended), including such powers as may hereafter be set forth from time to time in said Act.
The name of the political subdivision of the Commonwealth of Virginia created by this chapter shall be the "Industrial Development Authority of Carroll County."
The Authority shall be governed by a Board of Directors in which all powers of the Authority shall be vested, which Board shall be composed of seven Directors appointed by the Board of Supervisors of Carroll County. The seven Directors shall be appointed initially for terms of one, two, three and four years, two being appointed for one-year terms, two being appointed for two-year terms, two being appointed for three-year terms and one for a four-year term. Subsequent appointments shall be for terms of four years, except for appointments to fill vacancies, which shall be for the unexpired terms.
The Chairman is hereby authorized to call meetings of the Board of Directors of the Industrial Development Authority of Carroll County by written notice, which notice may be delivered or mailed to the business or home address of each of the members of the Board of Directors.
There hereby is created an Authority pursuant to the Virginia Regional Industrial Facilities Act, Chapter 64 of Title 15.2, Code of Virginia 1950, as amended, whose name shall be "Carroll-Grayson-Galax Regional Industrial Facility Authority" and whose member localities shall be as follows, each of which is a political subdivision of the Commonwealth of Virginia, authorized to participate as a member of the Authority by the Act, and collectively are the "member localities":
As provided by the Act, the Board of Supervisors of Carroll County, Virginia, after due consideration, hereby makes the following findings:
The economy of Western Virginia has not kept pace with those of much of the rest of the commonwealth. Individual localities in the region often lack the financial resources to assist in the development of economic development projects. Providing a mechanism for localities in the region to cooperate in the development of facilities will assist the region in overcoming this barrier to economic growth. The creation of a Regional Industrial Facility Authority will assist this area of the commonwealth in achieving a greater degree of economic stability.
The purpose of the Regional Industrial Facility Authority is to enhance the economic base for the member localities by developing, owning and operating one or more facilities on a cooperative basis involving its member localities.
The exercise of the powers granted by the Act shall be in all respects for the benefit of the inhabitants of the region and other areas of the commonwealth, for the increase of their commerce and for the promotion of their safety, health, welfare, convenience, and prosperity.
The economic growth and development of this locality and the comfort, convenience, and welfare of its citizens require the development of facilities, and joint action through a Regional Industrial Facility Authority by the localities which are to be members of the proposed authority will facilitate the development of the needed facilities.
In furtherance of this article, the Chairman of the Board of Supervisors of Carroll County is hereby authorized to execute an agreement in the form attached to this article establishing the respective rights and obligations of the member localities with respect to the Authority.