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The Authority shall exist for a term of 50 years as a political subdivision, and as thereafter extended in accordance with the Act, unless earlier dissolved in accordance with the Act. ARTICLE III CREATING JURISDICTIONS The creating jurisdictions are the City of Chesapeake, Virginia, the City of Norfolk, Virginia, the City of Portsmouth, Virginia, the City of Suffolk, Virginia, and the City of Virginia Beach, Virginia, each a municipal corporation of the Commonwealth of Virginia (collectively the "member localities "). Although the member localities shall each appoint members of the Authority Board of Directors pursuant to Article V of these Articles of Incorporation, the Authority shall have no "members" as that term is defined in the Virginia Non -Stock Corporation Act, Chapter 10 of Title 13.1 of the Code of Virginia. ARTICLE IV JOINDER OR WITHDRAWAL OF JURISDICTIONS; MERGER OF AUTHORITIES Any locality may join the Authority, and any locality which is a member of the Authority may withdraw therefrom, upon unanimous consent of the remaining members of the Authority in accordance with this Article. However, no locality may withdraw from the Authority, if the Authority has outstanding bonds without the unanimous consent of all the holders of such bonds unless all such bonds have been paid or cashed or United States government obligations have been deposited for their payment. The governing body of any locality wishing to join or withdraw from the Authority shall signify its desire by resolution or ordinance. If the Authority's board of directors and each member locality by resolution expresses its consent to the withdrawal or joinder of a locality, the governing body of the locality requesting withdrawal or joinder and the governing bodies of the other member localities shall advertise the ordinance, resolution, or agreement providing for such joinder or withdrawal and hold a public hearing in accordance with Section 15.2 - 5431.5 of the Code of Virginia, 1950, as amended. Such ordinance, resolution, or agreement shall be adopted in the same manner and with the same formalities as would be necessary to create a new authority, lnutatis 11111tandis. In the event a locality seeks to join or withdraw from the Authority, the resolutions, ordinances, or agreement creating the new Authority shall specify the number and terms of office of members of the board of directors of the expanded Authority which must be appointed by each of the member