reglab/housing_qa huggingface dataset:
VA Code § 33.2-1712 (2021)
2021 Code of Virginia|Title 33.2 - Highways and Other Surface Transportation Systems|Chapter 17 - Transportation Development and Revenue Bond Act|§ 33.2-1712. Limitations and approvals for certain revenue bonds

No bonds payable from the Transportation Trust Fund revenues under a payment agreement between the Board and the Treasury Board and payable first from revenues of that Fund received pursuant to contracts with a primary highway transportation improvement district or a transportation service district shall be issued unless specifically included in a bill or resolution passed by the General Assembly. The Treasury Board is designated the sales and paying agent of the Board with respect to such bonds.1986, Sp. Sess., c. 13, § 33.1-279.1; 1988, cc. 844, 903; 2014, c. 805.
VA Code § 33.2-1713 (2021)
2021 Code of Virginia|Title 33.2 - Highways and Other Surface Transportation Systems|Chapter 17 - Transportation Development and Revenue Bond Act|§ 33.2-1713. Sale of bonds; bonds as legal investments

The Board may sell such bonds in such manner and for such price as it may determine to be for the best interests of the Commonwealth, but no such sale shall be made at a price so low as to require the payment of interest on the money received therefor at more than the maximum annual percentage rate approved by the Commonwealth Treasury Board with respect to such obligations in accordance with § 2.2-2416.All bonds issued pursuant to the authority of this chapter are hereby made securities in which all public officers and bodies of the Commonwealth and all political subdivisions thereof; all insurance companies and associations, all national banks and trust companies, and all savings institutions, including savings and loan associations, in the Commonwealth; and all executors, administrators, trustees, and other fiduciaries, both individual or corporate, may properly and legally invest funds within their control.Code 1950, § 33-240; 1952, c. 485; 1958, c. 485; 1970, c. 322, § 33.1-280; 2000, cc. 1019, 1044; 2011, cc. 830, 868; 2014, c. 805.
VA Code § 33.2-1714 (2021)
2021 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.
VA Code § 33.2-1715 (2021)
2021 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.
VA Code § 33.2-1716 (2021)
2021 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.
VA Code § 33.2-1717 (2021)
2021 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.
VA Code § 33.2-1718 (2021)
2021 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.
VA Code § 33.2-1719 (2021)
2021 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.
VA Code § 33.2-1720 (2021)
2021 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.
VA Code § 33.2-1721 (2021)
2021 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.
VA Code § 33.2-1722 (2021)
2021 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.
VA Code § 33.2-1723 (2021)
2021 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.
VA Code § 33.2-1724 (2021)
2021 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.
VA Code § 33.2-1725 (2021)
2021 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.
VA Code § 33.2-1728 (2021)
2021 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.
VA Code § 33.2-1729 (2021)
2021 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.