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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>80941</law_id><section_number>33.2-1511</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>33.2-1709</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="33.2">Highways and Other Surface Transportation Systems</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Transportation Funding and Development</unit><unit label="chapter" level="3" order_by="1" identifier="15">Transportation Funding</unit><unit label="article" level="4" order_by="1" identifier="4">Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes Act of 2011</unit></structure><text>
						<section><p>As used in this article, unless the context requires a different meaning:
		&#x201C;<span class="dictionary">Federal highway reimbursements</span>&#x201D; means all federal-aid <span class="dictionary">highway construction</span> reimbursements and any other federal highway assistance received from time to time by the Commonwealth under or in accordance with Title 23 of the United States Code or any successor program established under federal <span class="dictionary">law</span> from the Federal Highway Administration and any successor or additional federal agencies.
		&#x201C;GARVEE,&#x201D; a grant anticipation revenue vehicle, means an &#x201C;<span class="dictionary">eligible debt financing instrument</span>&#x201D; as defined under 23 U.S.C. &#xA7;&#xA0;122, the principal of and interest on which and certain other costs associated therewith may be reimbursed by <span class="dictionary">federal highway reimbursements</span>.
		&#x201C;<span class="dictionary">Notes</span>&#x201D; means those <span class="dictionary">notes</span> authorized and issued pursuant to &#xA7;&#xA0;<a class="law" title="Authorization of Notes" href="/33.2-1512/">33.2-1512</a>.
		&#x201C;<span class="dictionary">Project-specific reimbursements</span>&#x201D; means the <span class="dictionary">federal highway reimbursements</span> received by the Commonwealth only with respect to the project or projects to be financed by the <span class="dictionary">Notes</span> or any <span class="dictionary">series</span> thereof.
		&#x201C;<span class="dictionary">Series</span>&#x201D; means any grouping of <span class="dictionary">Notes</span> issued as designated as such by the <span class="dictionary">Board</span> as necessary or desirable for administrative convenience, satisfaction of federal tax or securities <span class="dictionary">law</span> requirements, or any similar purpose.</p></section></text><history>2011, cc. 830, 868, &#xA7; 33.1-23.14; 2014, c. 805.</history><metadata></metadata></law>
