§ 2-2. Economic development authority.
(a)
There is hereby created a political subdivision of the commonwealth with such public and corporate powers as are set forth in the Industrial Development and Revenue Bond Act, Code of Virginia, § 15.1-1373 et seq., as amended, including such powers as may hereafter be set forth from time to time in such act.
(b)
The name of the political subdivision created hereby shall be the Economic Development Authority of Lancaster County, Virginia.
(c)
The authority shall be governed by a board of directors made up of seven members to be appointed by resolution to be adopted by the board of supervisors.
(d)
Following the appointment of the board of directors the chairman of the board of supervisors is hereby authorized to call the initial meeting of the board of directors of the authority by written notice delivered to each member thereof at least three days in advance of such meeting, stating the time, place and matters of business proposed to be conducted. At such initial meeting the board of directors shall organize and elect officers in the manner provided by law.
(Ord. of 8-29-74, §§ 1—4; Ord. of 5-26-11; Ord. of 2-23-12, § 1)
Cross reference— Buildings and building regulations, ch. 14; environment, ch. 26; planning and development, ch. 50.
(Ord. of 8-29-74, §§ 1—4; Ord. of 5-26-11; Ord. of 2-23-12, § 1)