dcrodriguez/Code-of-Virginia huggingface dataset:
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1714. Use of proceeds of sale of bonds.
The proceeds of such bonds shall be used solely for the payment of the cost of the project for which they are issued and shall be disbursed by the Board under such restrictions, if any, as the Board may provide. If the proceeds of the bonds of any issue, by error of estimates or otherwise, shall be less than the cost of the project on account of which such bonds are issued, additional bonds may in like manner be issued to provide the amount of such deficit and unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust indenture pursuant to § 33.2-1717 shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued for the same project. If the proceeds of bonds issued for any project exceeds the cost thereof, the surplus shall be paid into the fund provided in this chapter for the payment of principal and interest of such bonds.

Code 1950, § 33-241; 1970, c. 322, § 33.1-281; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1715. Financing two or more projects together.
The Board may, in its discretion, couple or unite into one unit for financing purposes any two or more such projects, whether acquired by purchase or condemnation or constructed, and revenue bonds of a single issue may be issued for the purpose of paying the cost of any one or more projects, unless otherwise restricted by statute.

Code 1950, § 33-242; 1970, c. 322, § 33.1-282; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1716. All moneys to be trust funds.
All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of revenue bonds, as grants or other contributions, or as tolls and revenues, shall be held and applied solely as provided in this chapter. The Board shall, in the resolution authorizing the issuance of bonds or in the trust indenture, provide for the payment of the proceeds of the sale of the bonds and the tolls and revenues to be received into the state treasury and carried on the books of the Comptroller in a special account and may provide for the turning over, transfer, or paying over of such funds from the state treasury to any officer, agency, bank, or trust company who shall act as trustee of such funds and hold and apply the same to the purposes of this chapter, subject to such regulations as this chapter and such resolution or trust indenture may provide.

Disbursements and payments of moneys so paid into the state treasury shall be made by the State Treasurer upon warrants of the State Comptroller that he shall issue upon vouchers signed by such person or persons as shall be designated by the Board for such purpose.

Code 1950, § 33-243; 1970, c. 322, § 33.1-283; 1988, cc. 844, 903; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1717. Trust indenture.
In the discretion of the Board, each or any issue of revenue bonds may be secured by a trust indenture by and between the Board and a corporate trustee, which may be any trust company or bank having trust powers within or outside of the Commonwealth. Such trust indenture may pledge tolls and revenues to be received, but no such trust indenture shall convey or mortgage any project or any part thereof. Either the resolution providing for the issuance of revenue bonds or such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the Board in relation to the acquisition, construction, improvement, maintenance, operation, repair, and insurance of the projects and the custody, safeguarding, and application of all moneys. Such resolution or trust indenture may also provide that the project shall be acquired, or acquired and improved, or constructed, and paid for under the supervision and approval of consulting engineers employed or designated by the Board and satisfactory to the original purchasers of the bonds issued therefor and may also require that the security given by contractors and by any depository of the proceeds of the bonds or revenues of the project or other moneys pertaining thereto be satisfactory to such purchasers. Any bank or trust company within or without the Commonwealth may act as such depository and furnish such indemnifying bonds or pledge such securities as may be required by the Board. Such indenture may set forth the rights and remedies of the bondholders and of the trustee and may restrict the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations. In addition to the foregoing, such trust indenture may contain such other provisions as the Board may deem reasonable and proper for the security of the bondholders. Except as otherwise provided in this chapter, the Board may provide, by resolution or by such trust indenture, that after the payment of the proceeds of the sale of the bonds and the revenues of the project into the state treasury the Board will immediately transfer or pay same over to such officer, board, or depository as it may determine for the custody thereof and for the method of disbursement thereof, with such safeguards and restrictions as it may determine. All expenses incurred in carrying out such trust indenture may be treated as a part of the cost of maintenance, operation, and repairs of the project affected by such indenture.

Code 1950, § 33-244; 1970, c. 322, § 33.1-284; 2000, cc. 1019, 1044; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1718. Revenues.
The Board shall fix and revise as may be necessary tolls for the use of each project for which bonds are issued or proposed to be issued under the provisions of this chapter and shall charge and collect the same and may contract with any person, partnership, association, or corporation desiring the use of such project, approaches, and appurtenances, and any part thereof, for placing thereon water, gas, or oil pipelines or telephone, telegraph, electric light, or power lines, or for any other purpose, and may fix the terms, conditions, and rates and charges for such use. Such tolls shall be so fixed and adjusted, in respect of the aggregate of tolls from the project on account of which a single issue of bonds is issued under this chapter, as to provide a fund sufficient with other revenues of such project, if any, to pay (i) the cost of maintaining, repairing, and operating such project unless such cost shall be otherwise provided for and (ii) such bonds and the interest thereon as the same shall become due. Such tolls shall not be subject to supervision or regulation by any other state commission, board, bureau, or agency. Except for those persons exempted by § 33.2-613, it shall be unlawful for the Department or any Department employee to give or permit free passage over any project set forth in the definition of "project" in § 33.2-1700 that has been secured through the issuance of revenue bonds and which bonds are payable from the revenues of such project. Every vehicle and person shall pay the same toll as others similarly situated. Except as provided in § 33.2-613, the provisions in this section shall apply with full force and effect to vehicles and employees of the state government and governments of counties, cities, and towns or other political subdivisions and to vehicles and persons of all other categories and descriptions, public, private, eleemosynary, or otherwise.

Code 1950, § 33-245; 1956, c. 158; 1968, c. 170; 1970, c. 322, § 33.1-285; 1973, c. 215; 1981, c. 417; 1982, c. 242; 1983, c. 617; 1986, Sp. Sess., c. 13; 1988, cc. 844, 903; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1719. Reserve funds and appropriations.
A. In connection with the Commonwealth of Virginia Transportation Contract Revenue Bonds, the Board may create and establish one or more special funds (reserve funds) and shall pay into each such reserve fund from bond proceeds and any moneys appropriated and made available by the Commonwealth for the purpose of such fund and from any other moneys that may be made available to the Board for the purpose of such fund from any other source or sources. All moneys held in any reserve fund shall be used as required solely for the payment of the principal and interest of Commonwealth of Virginia Transportation Contract Revenue Bonds.

B. In order to further ensure maintenance of the reserve fund, the Commissioner of Highways shall annually, on or before December 1, make and deliver to the Governor and Director of the Department of Planning and Budget his certificate stating the sum, if any, required to restore each such reserve fund to the minimum reserve fund requirement for such fund as may be established by the Board. Within five days after the beginning of each regular session of the General Assembly, the Governor shall submit to the presiding officer of each house printed copies of a budget including the sum, if any, required to restore each such reserve fund to the minimum reserve fund requirement for such fund. All sums appropriated by the General Assembly for such restoration and paid shall be deposited by the Board in the applicable reserve fund and shall be deducted from amounts otherwise allocable pursuant to the highway allocation formula as provided by law to the highway construction district in which the project is located or to the county or counties in which the project financed is located.

1988, cc. 844, 903, § 33.1-285.1; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1720. Sinking fund.
The tolls and all other revenues derived from the project for which a single issue of bonds is issued, except such part thereof as may be required to pay the cost of maintaining, repairing, and operating such project and to provide such reserves therefor as may be provided for in the resolution authorizing the issuance of such bonds or in the trust indenture, shall be set aside at such regular intervals as may be provided in such resolution or such trust indenture, in a sinking fund that is hereby pledged to and charged with the payment of (i) the interest upon such bonds as such interest shall fall due, (ii) the principal of the bonds as the same shall fall due, (iii) the necessary charges of paying agents for paying principal and interest, and (iv) any premium upon bonds retired by call or purchase as provided in this section.

The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing the issuance of the bonds or in the trust indenture but, except as may otherwise be provided in such resolution or trust indenture, such sinking fund shall be a fund for all such bonds without distinction or priority of one over another. Subject to the provisions of the resolution authorizing the issuance of the bonds or of the trust indenture, any moneys in such sinking fund in excess of an amount equal to one year's interest on all bonds then outstanding may be applied to the purchase or redemption of bonds. All bonds so purchased or redeemed shall forthwith be cancelled and shall not again be issued.

Code 1950, § 33-246; 1970, c. 322, § 33.1-286; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1721.  Cessation of tolls.
When the particular revenue bonds issued for any project and the interest thereon have been paid, or a sufficient amount has been provided for their payment and continues to be held for that purpose, the Board shall cease to charge tolls for the use of such project and thereafter such project shall be free; however, the Board may thereafter charge tolls for the use of any such project when tolls are required for maintaining, repairing, operating, improving, and reconstructing such project; when such tolls have been or are pledged by the Board to the payment of revenue bonds issued under the provisions of this chapter for another project on approval of the General Assembly; or when such tolls are designated by the Board to be deposited into the Transportation Trust Fund. However, any such pledge of tolls of a project to the payment of bonds issued for another project shall not be effective until the principal and interest of the bonds issued for the first mentioned project has been paid or provision made for their payment.

The provisions of this section shall also apply to tolls on projects constructed pursuant to (i) the Chesapeake Bay Bridge and Tunnel District and Commission established in Chapter 22 (§ 33.2-2200 et seq.) and (ii) the Richmond Metropolitan Transportation Authority established in Chapter 29 (§ 33.2-2900 et seq.), provided their governing bodies have acted as set forth in subdivision A 3 of § 33.2-1524.

Code 1950, § 33-247; 1970, c. 322, § 33.1-287; 1986, Sp. Sess., c. 13; 2009, c. 471; 2014, cc. 469, 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1722. Use of certain funds by Board.
The Board may, in its discretion, use any part of funds available for the construction of state highways in any highway construction district in which any project authorized for toll revenue bond financing by the Board as described in § 33.2-1700 or by the Richmond Metropolitan Transportation Authority as established in Chapter 29 (§ 33.2-2900 et seq.) is wholly or partly located to aid in the payment of the cost of such projects and for the payment, purchase, or redemption of revenue bonds issued in connection with any such project, or in connection with any such project and any one or more other projects. The Board may also, in its discretion, use any part of funds available for the maintenance of state highways, in any highway construction district in which any such project is wholly or partly located, to provide for the operation, maintenance, and repair of any such project and for the payment of interest on revenue bonds issued in connection with any such project, or in connection with any such project and any one or more other projects. In addition, the Board may, in its discretion, use funds under the terms of this section for the emergency operation, maintenance, and repair of the project of the Chesapeake Bay Bridge and Tunnel District and Commission as established in Chapter 22 (§ 33.2-2200 et seq.) in the event of damage to the bridge under a repayment agreement approved by the bond trustee and may also pay to the Chesapeake Bay Bridge and Tunnel Commission, for aid in the maintenance of the project, the same amounts authorized by § 33.2-319 for payments for maintenance to certain towns and cities.

If the Board uses any part of the fund available to itself for the construction of highways in the primary state highway system without reference to highway construction districts, commonly called the "gap fund," for any purpose permitted by this section, it shall not expend in excess of three-eighths of the amount of such fund, including other amounts of such fund that may be expended in the three districts in which such projects are located, provided that in no case shall any of the funds of any highway construction district other than those in which the projects are located be used for the purposes of this chapter.

Code 1950, § 33-248; 1970, c. 322, § 33.1-288; 1972, c. 490; 1974, c. 242; 2006, c. 186; 2009, c. 471; 2014, cc. 469, 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1723. Contributions.
The Board, in addition to the revenues that may be received from the sale of revenue bonds and from the collection of tolls and other revenues derived under the provisions of this chapter, may receive and accept from any federal agency or other public or private body contributions of either money or property or other things of value, to be held, used, and applied for the purposes provided in this chapter.

Code 1950, § 33-249; 1970, c. 322, § 33.1-289; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1724. Remedies of bondholders and trustee.
Any holder of revenue bonds issued under the provisions of this chapter or any of the coupons attached thereto and the trustee under the trust indenture, if any, except to the extent the rights herein given may be restricted by resolution passed before the issuance of the bonds or by the trust indenture, may, either at law or in equity, by suit, action, mandamus, or other proceedings protect and enforce any and all rights under the laws of the United States or of the Commonwealth or granted hereunder or under such resolution or trust indenture and may enforce and compel performance of all duties required by this chapter, or by such resolution or trust indenture, to be performed by the Commonwealth or by the Board, or any officer thereof, including the fixing, charging, and collecting of tolls for the use of such project.

Code 1950, § 33-250; 1970, c. 322, § 33.1-290; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1725. Competing bridges, ferries, and tunnels.
No bridge or tunnel other than those specified in § 33.2-1700 for the use of the traveling public shall be constructed and operated by the Commonwealth or by any county, municipal corporation, or political subdivision of the Commonwealth, or by any agency or instrumentality, partnership, association, or corporation, within 10 miles of any terminus of any project acquired or constructed under the provisions of this chapter, and no franchise shall be granted for the operation of a ferry within 10 miles of any projects for the acquisition or construction of which revenue bonds have been authorized under this chapter, except under a written permit granted by the Board, which is hereby exclusively authorized to grant such permits under the terms and conditions of this chapter. No such permit shall be granted by the Board until it ascertains by an investigation, including a hearing upon such notice and under such rules as the Board may prescribe, that there is an urgent public need for the operation of such bridge, tunnel, or ferry and that its operation will not affect the revenues of any such project of the Commonwealth so as to impair the security of any revenue bonds issued for the acquisition or construction of such project.

The distance of 10 miles specified in this section shall be measured in a straight line between the nearest points of such projects. However, nothing in this chapter shall apply to an existing ferry route, temporarily discontinued, if the ferry was established prior to 1940.

Code 1950, § 33-251; 1950, p. 147; 1954, c. 319; 1970, c. 322, § 33.1-291; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1728. Chapter provides alternative method.
This chapter shall be deemed to provide an additional and alternative method for actions authorized by this chapter and shall be regarded as supplemental and additional to powers conferred by other laws and shall not be regarded as in derogation of any existing powers.

Code 1950, § 33-254; 1970, c. 322, § 33.1-294; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 17 (Transportation Development and Revenue Bond Act)
§ 33.2-1729. Chapter liberally construed.
This chapter, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purposes hereof.

Code 1950, § 33-255; 1970, c. 322, § 33.1-295; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1801. Policy.
A. The General Assembly finds that:

1. There is a public need for timely development and/or operation of transportation facilities within the Commonwealth that address the needs identified by the appropriate state, regional, or local transportation plan by improving safety, reducing congestion, increasing capacity, enhancing economic efficiency, or any combination thereof and that such public need may not be wholly satisfied by existing methods of procurement in which qualifying transportation facilities are developed and/or operated;

2. Such public need may not be wholly satisfied by existing ways in which transportation facilities are developed and/or operated; and

3. Authorizing private entities to develop and/or operate one or more transportation facilities may result in the development and/or operation of such transportation facilities to the public in a more timely, more efficient, or less costly fashion, thereby serving the public safety and welfare.

B. A public-private partnership may be in the best interest of the public only if the requirements of subdivisions C 1 through 5 of § 33.2-1803 have been met.

C. It is the intent of this chapter, among other things, to encourage investment in the Commonwealth by private entities that facilitates the development and/or operation of transportation facilities when such investment is in the best interest of the public. Accordingly, public and private entities may have the greatest possible flexibility in contracting with each other for the provision of the public services that are the subject of this chapter.

D. This chapter shall be liberally construed in conformity with the purposes hereof.

1994, c. 855, § 56-558; 1995, c. 647; 2005, cc. 504, 562; 2006, c. 922; 2014, c. 805; 2017, cc. 539, 551.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1802. Prerequisite for operation.
A. Any private entity seeking authorization under this chapter to develop and/or operate a transportation facility shall first obtain approval of the responsible public entity under § 33.2-1803. Such private entity may initiate the approval process by requesting approval pursuant to subsection A of § 33.2-1803 or the responsible public entity may request proposals pursuant to subsection B of § 33.2-1803.

B. Any responsible public entity that is an agency or institution of the Commonwealth receiving a detailed proposal from a private entity for a qualifying transportation facility that is a port facility as defined in § 62.1-140 shall provide notice of the receipt of such proposal to the Public-Private Partnership Advisory Commission established in § 30-279.

1994, c. 855, § 56-559; 1995, c. 647; 2005, cc. 504, 562; 2011, c. 589; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1803.1. Finding of public interest.
A. Prior to the meeting of the Committee pursuant to subsection C of § 33.2-1803.2, the chief executive officer of the responsible public entity shall make a finding of public interest. Such finding shall include information set forth in subsection B. For transportation facilities where the Department of Transportation, the Virginia Passenger Rail Authority, or the Department of Rail and Public Transportation is the responsible public entity, the Secretary of Transportation, in his role as chairman of the Board, must concur with the finding of public interest.

B. At a minimum, a finding of public interest shall contain the following information:

1. A description of the benefits expected to be realized by the responsible public entity through the development and/or operation of the transportation facility, including person throughput, congestion mitigation, safety, economic development, environmental quality, and land use.

2. An analysis of the public contribution necessary for the development and/or operation of the facility or facilities pursuant to subsection A of § 33.2-1803.1:1, including a maximum public contribution that will be allowed under the procurement.

3. A description of the benefits expected to be realized by the responsible public entity through the use of this chapter compared with the development and/or operation of the transportation facility through other options available to the responsible public entity.

4. A statement of the risks, liabilities, and responsibilities to be transferred, assigned, or assumed by the private entity, which shall include the following:

a. A discussion of whether revenue risk will be transferred to the private entity and the degree to which any such transfer may be mitigated through other provisions in the interim or comprehensive agreements;

b. A description of the risks, liabilities, and responsibilities to be retained by the responsible public entity; and

c. Other items determined appropriate by the responsible public entity in the guidelines for this chapter.

5. The determination of whether the project has a high, medium, or low level of project delivery risk and a description of how such determination was made. If the qualifying transportation facility is determined to contain high risk, a description of how the public's interest will be protected through the transfer, assignment, or assumption of risks or responsibilities by the private entity in the event that issues arise with the development and/or operation of the qualifying transportation facility.

6. If the responsible public entity proposes to enter into an interim or comprehensive agreement pursuant to subdivision 2 of § 33.2-1819, information and the rationale demonstrating that proceeding in this manner is more beneficial than proceeding pursuant to subdivision 1 of § 33.2-1819.

2015, c. 612; 2017, cc. 539, 551; 2020, cc. 1230, 1275.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1803.1:1. Public sector analysis and competition.
A. For any transportation facility under consideration for development and/or operation under this chapter by the Department of Transportation, the Virginia Passenger Rail Authority, or the Department of Rail and Public Transportation, the responsible public entity shall ensure competition throughout the procurement process by developing a public sector option based on the analysis conducted in subsection B. The public sector option shall identify a maximum public contribution.

B. The responsible public entity shall undertake, in cooperation with the Secretary of Transportation and the Secretary of Finance, a public sector analysis of the cost for the responsible entity to develop and/or operate the transportation facility or facilities being considered for development and/or operation pursuant to this chapter. At a minimum, such analysis shall contain the following information:

1. Any mitigation of risk of user-fee financing through assumptions related to competing facilities, compensation for high usage of the facility by high-occupancy vehicles, or other considerations that may mitigate the risk of user-fee financing.

2. Whether the Department of Transportation, the Virginia Passenger Rail Authority, or the Department of Rail and Public Transportation intends to maintain and operate the facility, or if the public sector option is based on the transfer of such responsibilities to the private sector.

3. Public contribution, if any, that would still be required to cover all costs necessary for the development and/or operation of the transportation facility in excess of financing available should the General Assembly authorize the use of debt secured by a pledge of net revenues derived from rates, fees, or other charges and the full faith and credit of the Commonwealth pursuant to Article X, Section 9 (c) of the Constitution of Virginia.

4. Funds provided to support nonuser fee generating components of the project that contribute to the benefits expected to be realized from the transportation facility pursuant to subdivision B 1 of § 33.2-1803.1.

2017, cc. 539, 551; 2020, cc. 1230, 1275.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1804. Service contracts.
In addition to any authority otherwise conferred by law, any public entity may contract with a private entity for transportation services to be provided by a qualifying transportation facility in exchange for such service payments and other consideration as such public entity may deem appropriate.

1994, c. 855, § 56-561; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1805. Affected localities or public entities.
A. Any private entity requesting approval from, or submitting a proposal to, a responsible public entity under § 33.2-1803 shall notify each affected locality or public entity by furnishing a copy of its request or proposal to each affected locality or public entity.

B. Each affected locality or public entity that is not a responsible public entity for the respective qualifying transportation facility shall, within 60 days after receiving a request for comments from the responsible public entity, submit in writing any comments it may have on the proposed qualifying transportation facility to the responsible public entity and indicate whether the facility will address the needs identified in the appropriate state, regional, or local transportation plan by improving safety, reducing congestion, increasing capacity, enhancing economic efficiency, or any combination thereof.

C. Any qualifying transportation facility, title or easement to which is held by the Commonwealth or an agency or authority therefor and the rights to develop or operate which have been granted to the private entity through a concession as defined in § 33.2-1800, shall be subject to the provisions of Title 15.2 in the same manner as a facility of the Commonwealth, mutatis mutandis, except that such private entity shall comply with the provisions of subsections B and C of § 15.2-2202 as they relate to the affected locality's or public entity's comprehensive plan.

1994, c. 855, § 56-563; 1995, c. 647; 2005, cc. 504, 562; 2006, c. 922; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1806. Dedication of public property.
Any public entity may dedicate any property interest that it has for public use as a qualified transportation facility if it finds that so doing will serve the public purpose of this chapter. In connection with such dedication, a public entity may convey any property interest that it has, subject to the conditions imposed by general law governing such conveyances, to the private entity, subject to the provisions of this chapter, for such consideration as such public entity may determine. The aforementioned consideration may include the agreement of the private entity to develop and/or operate the qualifying transportation facility. The property interests that the public entity may convey to the private entity in connection with a dedication under this section may include licenses, franchises, easements, concessions, or any other right or interest the public entity deems appropriate. Such property interest including a leasehold interest in and/or rights to use real property constituting a qualifying transportation facility shall be considered property indirectly owned by a government if described in § 58.1-3606.1.

1994, c. 855, § 56-564; 1995, c. 647; 2005, cc. 504, 562; 2006, c. 922; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1809. Interim agreement.
A. Prior to or in connection with the negotiation of the comprehensive agreement, the responsible public entity may enter into an interim agreement with the private entity proposing the development and/or operation of the facility or facilities. Such interim agreement may (i) permit the private entity to commence activities for which it may be compensated relating to the proposed qualifying transportation facility, including project planning and development, advance right-of-way acquisition, design and engineering, environmental analysis and mitigation, survey, conducting transportation and revenue studies, and ascertaining the availability of financing for the proposed facility or facilities; (ii) establish the process and timing of the negotiation of the comprehensive agreement; and (iii) contain any other provisions related to any aspect of the development and/or operation of a qualifying transportation facility that the parties may deem appropriate.

B. Notwithstanding any provision of this chapter to the contrary, a responsible public entity may enter in to an interim agreement with multiple private entities if the responsible public entity determines in writing that it is in the public interest to do so.

C. The Department of Transportation, the Virginia Passenger Rail Authority, and the Department of Rail and Public Transportation shall not enter into an interim agreement for the development of a transportation facility under this chapter that either (i) establishes a process and timing of the negotiations of the comprehensive agreement or (ii) allows for competitive negotiations as set forth in § 2.2-4302.2.

2005, cc. 504, 562, § 56-566.1; 2014, c. 805; 2017, cc. 539, 551; 2020, cc. 1230, 1275.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1810. Multiple public entities.
A. If a private entity submits a proposal pursuant to subsection A of § 33.2-1803 to develop and/or operate a qualifying transportation facility or a multimodal transportation facility that may require approval by more than one public entity, representatives of each of the affected public entities shall, prior to acceptance of such proposal, convene and determine which public entity shall serve as the coordinating responsible public entity. Such determination shall occur within 60 days of the receipt of a proposal by the respective public entities.

B. If public entities request proposals from private entities for the development and/or operation of a qualifying transportation facility or a multimodal transportation facility pursuant to subsection B of § 33.2-1803, the determination of which public entity shall serve as the coordinating responsible public entity shall be made prior to any request for proposals.

C. Once a determination has been made in accordance with subsection A or B, the coordinating responsible public entity and the private entity shall proceed in accordance with this chapter.

2005, cc. 504, 562, § 56-566.2; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1811. Federal, state, and local assistance.
A. The responsible public entity may take any action to obtain federal, state, or local assistance for a qualifying transportation facility that serves the public purpose of this chapter and may enter into any contracts required to receive such federal assistance. If the responsible public entity is a state agency, any funds received from the state or federal government or any agency or instrumentality thereof shall be subject to appropriation by the General Assembly. The responsible public entity may determine that it serves the public purpose of this chapter for all or any portion of the costs of a qualifying transportation facility to be paid, directly or indirectly, from the proceeds of a grant or loan made by the federal, state, or local government or any agency or instrumentality thereof.

B. The responsible public entity may agree to make grants or loans for the development and/or operation of the qualifying transportation facility from amounts received from the federal, state, or local government or any agency or instrumentality thereof.

C. Nothing in this chapter or in an interim or comprehensive agreement entered into pursuant to this chapter shall be deemed to enlarge, diminish, or affect the authority, if any, otherwise possessed by the responsible public entity to take action that would impact the debt capacity of the Commonwealth or the affected localities or public entities.

1994, c. 855, § 56-567; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1812. Financing.
Any financing of a qualifying transportation facility may be in such amounts and upon such terms and conditions as may be determined by the parties to the interim or comprehensive agreement. Without limiting the generality of the foregoing, the private entity and the responsible public entity may propose to utilize any and all revenues that may be available to them and may, to the fullest extent permitted by applicable law: issue debt, equity, or other securities or obligations; enter into leases, concessions, and grant and loan agreements; access any designated transportation trust funds; borrow or accept grants from any state infrastructure bank; and secure any financing with a pledge of, security interest in, or lien on any or all of its property, including all of its property interests in the qualifying transportation facility.

2005, cc. 504, 562, § 56-567.1; 2006, c. 922; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1813. Material default; remedies.
A. Upon the occurrence and during the continuation of material default, the responsible public entity may exercise any or all of the following remedies:

1. The responsible public entity may elect to take over the transportation facility or facilities and in such case shall succeed to all of the right, title, and interest in such transportation facility or facilities, subject to any liens on revenues previously granted by the private entity to any person providing financing therefor.

2. The responsible public entity may terminate the interim or comprehensive agreement and exercise any other rights and remedies that may be available at law or in equity.

3. The responsible public entity may make or cause to be made any appropriate claims under the performance and/or payment bonds required by § 33.2-1808.

B. In the event the responsible public entity elects to take over a qualifying transportation facility pursuant to subsection A, the responsible public entity may develop and/or operate the qualifying transportation facility, impose user fees for the use thereof, and comply with any service contracts as if it were the private entity. Any revenues that are subject to a lien shall be collected for the benefit of, and paid to, secured parties, as their interests may appear, to the extent necessary to satisfy the private entity's obligations to secured parties, including the maintenance of reserves, and such liens shall be correspondingly reduced and, when paid off, released. Before any payments to, or for the benefit of, secured parties, the responsible public entity may use revenues to pay current operation and maintenance costs of the qualifying transportation facility or facilities, including compensation to the responsible public entity for its services in operating and maintaining the qualifying transportation facility. Remaining revenues, if any, after all payments for operation and maintenance of the transportation facility or facilities, and to, or for the benefit of, secured parties, have been made, shall be paid to the private entity, subject to the negotiated maximum rate of return. The right to receive such payment, if any, shall be considered just compensation for the transportation facility or facilities. The full faith and credit of the responsible public entity shall not be pledged to secure any financing of the private entity by the election to take over the qualifying transportation facility. Assumption of operation of the qualifying transportation facility shall not obligate the responsible public entity to pay any obligation of the private entity from sources other than revenues.

1994, c. 855, § 56-568; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1814. Condemnation.
A. At the request of the private entity, the responsible public entity may exercise any power of condemnation that it has under law for the purpose of acquiring any lands or estates or interests therein to the extent that the responsible public entity finds that such action serves the public purpose of this chapter. Any amounts to be paid in any such condemnation proceeding shall be paid by the private entity.

B. Except as provided in subsection A, until the Commission, after notice to the private entity and the secured parties, as may appear in the private entity's records, and an opportunity for hearing, has entered a final declaratory judgment that a material default has occurred and is continuing, the power of condemnation may not be exercised against a qualifying transportation facility.

C. After the entry of such final order by the Commission, any responsible public entity having the power of condemnation under state law may exercise such power of condemnation, in lieu of or at any time after taking over the transportation facility pursuant to subdivision A 1 of § 33.2-1813, to acquire the qualifying transportation facility or facilities. Nothing in this chapter shall be construed to limit the exercise of the power of condemnation by any responsible public entity against a qualifying transportation facility after the entry by the Commission of a final declaratory judgment order pursuant to subsection B. Any person that has provided financing for the qualifying transportation facility and the private entity, to the extent of its capital investment, may participate in the condemnation proceedings with the standing of a property owner.

1994, c. 855, § 56-569; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.
Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1816. Police powers; violations of law.
A. All police officers of the Commonwealth and of each affected locality or public entity shall have the same powers and jurisdiction within the limits of such qualifying transportation facility as they have in their respective areas of jurisdiction, and such police officers shall have access to the qualifying transportation facility at any time for the purpose of exercising such powers and jurisdiction. This authority does not extend to the private offices, buildings, garages, and other improvements of the private entity to any greater degree than the police power extends to any other private buildings and improvements.

B. To the extent the transportation facility is a road, bridge, tunnel, overpass, or similar transportation facility for motor vehicles, the traffic and motor vehicle laws of the Commonwealth or, if applicable, any locality or public entity shall be the same as those applying to conduct on similar transportation facilities in the Commonwealth or such locality or public entity. Punishment for offenses shall be as prescribed by law for conduct occurring on similar transportation facilities in the Commonwealth or such locality or public entity.

1994, c. 855, § 56-571; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1817. Dedication of assets.
The responsible public entity shall terminate the private entity's authority and duties under this chapter on the date set forth in the interim or comprehensive agreement. Upon termination, the authority and duties of the private entity under this chapter shall cease, and the qualifying transportation facility shall be dedicated to the responsible public entity or, if the qualifying transportation facility was initially dedicated by an affected locality or public entity, to such affected locality or public entity for public use.

1994, c. 855, § 56-572; 1995, c. 647; 2005, cc. 504, 562; 2014, c. 805.

Code of Virginia — Title 33.2 (Highways and Other Surface Transportation Systems), Chapter 18 (PUBLIC-PRIVATE TRANSPORTATION ACT OF 1995)
§ 33.2-1818. Sovereign immunity.
Nothing in this chapter shall be construed as or deemed a waiver of the sovereign immunity of the Commonwealth, any responsible public entity, or any affected locality or public entity or any officer or employee thereof with respect to the participation in or approval of all or any part of the qualifying transportation facility or its operation, including interconnection of the qualifying transportation facility with any other transportation facility. Localities in which a qualifying transportation facility is located shall possess sovereign immunity with respect to its construction and operation.

1994, c. 855, § 56-573; 1995, c. 647; 2014, c. 805.