CODE OF VIRGINIA

DEFINITIONS (§ 33.2-2200)

As used in this chapter, unless the context requires a different
meaning:”Bonds” means bonds, notes, bond anticipation notes, or
other obligations of the District, notwithstanding any contrary provision in
this chapter, which may be issued in certificated or uncertificated form as
current interest or capital appreciation bonds, or a hybrid thereof, and may
bear interest at a rate, which may be fixed, zero, or at a floating or variable
rate of interest established by reference to indices or formulae, that may be in
excess of the rate now permitted by law and payable at such times as the
Commission may determine. Bonds may be issued under a system of book entry for
recording the ownership and transfer of ownership of rights to receive payments
of principal and premium, if any, and interest on the bonds. Bonds may be sold
in such manner and for such price as the Commission may determine to be for the
best interests of the District.”Commission” means the governing body
of the District known as the Chesapeake Bay Bridge and Tunnel
Commission.”Cost,” as applied to the project, means any or all of
the following: the cost of construction; the cost of the acquisition of all
land, rights-of-way, property, rights, franchises, easements, and interests
acquired by the Commission for such construction; the cost of demolishing or
removing any buildings or structures on land so acquired, including the cost of
acquiring any lands to which such buildings or structures may be moved; the cost
of all machinery and equipment; provision for reasonable working capital,
financing charges, and interest prior to and during construction; and, if deemed
advisable by the Commission, for a period not exceeding one year after
completion of construction, the cost of traffic estimates and of engineering and
legal services, plans, specifications, surveys, estimates of cost and of
revenues, and other expenses necessary or incident to determining the
feasibility or practicability of constructing the project; administrative
expenses; and such other expenses as may be necessary or incident to the
construction of the project, the financing of such construction, and the placing
of the project in operation. Any obligation or expense hereafter incurred by the
Commonwealth Transportation Board with the approval of the Commission for
traffic surveys, borings, preparation of plans and specifications, and other
engineering services in connection with the construction of the project shall be
regarded as a part of the cost of the project and shall be reimbursed to the
Commonwealth Transportation Board out of the proceeds of revenue bonds issued
for the project as authorized in this chapter.”District” means the
political subdivision of the Commonwealth known as the Chesapeake Bay Bridge and
Tunnel District.”Owner” includes all persons as defined in § 1-230
having any interest or title in and to property, rights, franchises, easements,
and interests authorized to be acquired by this chapter.”Project”
means a bridge or tunnel or a bridge and tunnel project, including the existing
bridge and tunnel crossing operated by the Commission and all or a part of an
additional and generally parallel bridge and tunnel crossing, from any point
within the boundaries of the District to a point in the County of Northampton,
including such approaches and approach highways as the Commission deems
necessary to facilitate the flow of traffic in the vicinity of such project or
to connect such project with the highway system or other traffic facilities in
the Commonwealth, and including all overpasses, underpasses, interchanges,
entrance plazas, toll houses, service stations, garages, restaurants, and
administration, storage, and other buildings and facilities that the Commission
may deem necessary for the operation of such project, together with all
property, rights, franchises, easements, and interests that may be required by
the Commission for the construction or the operation of such project.

HISTORY: 1956, c. 714; 1959, Extra Session, c. 24; 1990, c. 203; 2014, c. 805.