CODE OF VIRGINIA

DEFINITIONS (§ 5.1-30.1)

As used in this chapter, unless the context requires
otherwise:”Authority” means the Virginia Resources Authority created
in Chapter 21 (§ 62.1-197 et seq.) of Title 62.1.”Cost,” as applied
to any project financed under the provisions of this chapter, means the total of
all costs incurred by the local government as reasonable and necessary for
carrying out all works and undertakings necessary or incident to the
accomplishment of any project. It includes, without limitation, all necessary
developmental, planning and feasibility studies, surveys, plans and
specifications; architectural, engineering, financial, legal or other special
services; the cost of acquisition of land and any buildings and improvements
thereon, including the discharge of any obligations of the sellers of such land,
buildings or improvements; site preparation and development, including
demolition or removal of existing structures; construction and reconstruction;
labor; materials, machinery and equipment; the reasonable costs of financing
incurred by the local government in the course of the development of the
project; carrying charges incurred before placing the project in service;
interest on funds borrowed to finance the project to a date subsequent to the
estimated date the project is to be placed in service; necessary expenses
incurred in connection with placing the project in service; the funding of
accounts and reserves which the Authority may require; and the cost of other
items which the Authority determines to be reasonable and
necessary.”Fund” means the Virginia Airports Revolving Fund created
by this chapter.”Local government” means any county, city, town,
municipal corporation, authority, district, commission or political subdivision
created by the General Assembly or pursuant to the Constitution or laws of the
Commonwealth or any combination of any two or more of the
foregoing.”Project” means all or any part of an airport as defined
in § 5.1-1 and may consist of or include any or all facilities related to the
needs or convenience of passengers, shipping companies, and airlines, together
with any or all buildings or other structures, improvements, additions,
extensions, replacements, machinery or equipment, and any or all appurtenances,
lands, rights in land, avigation rights, water rights, rights-of-way,
franchises, furnishings, landscaping, utilities, approaches, roadways, or other
facilities necessary or desirable in connection therewith or incidental thereto.

HISTORY: 1999, c. 897.