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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>64389</law_id><section_number>33.2-2200</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>33.2-1524</reference><reference>33.2-1721</reference><reference>33.2-1722</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="IV">Local and Regional Transportation</unit><unit label="chapter" level="3" order_by="1" identifier="22">Chesapeake Bay Bridge and Tunnel District and Commission</unit></structure><text>
						<section><p>As used in this chapter, unless the context requires a different meaning:
		&#x201C;<span class="dictionary"><span class="dictionary">Bonds</span></span>&#x201D; means <span class="dictionary"><span class="dictionary">bonds</span></span>, notes, <span class="dictionary">bond</span> anticipation notes, or other obligations of the <span class="dictionary">District</span>, notwithstanding any contrary provision in this chapter, which may be issued in certificated or uncertificated form as current interest or capital appreciation <span class="dictionary"><span class="dictionary">bonds</span></span>, 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 <span class="dictionary">law</span> and payable at such times as the <span class="dictionary">Commission</span> may determine. <span class="dictionary"><span class="dictionary">Bonds</span></span> 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 <span class="dictionary"><span class="dictionary">bonds</span></span>. <span class="dictionary"><span class="dictionary">Bonds</span></span> may be sold in such manner and for such price as the <span class="dictionary">Commission</span> may determine to be for the best interests of the <span class="dictionary">District</span>.
		&#x201C;<span class="dictionary">Commission</span>&#x201D; means the governing body of the <span class="dictionary">District</span> known as the Chesapeake Bay Bridge and Tunnel <span class="dictionary">Commission</span>.
		&#x201C;Cost,&#x201D; as applied to the <span class="dictionary">project</span>, 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 <span class="dictionary">Commission</span> 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 <span class="dictionary">Commission</span>, 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 <span class="dictionary">project</span>; administrative expenses; and such other expenses as may be necessary or incident to the construction of the <span class="dictionary">project</span>, the financing of such construction, and the placing of the <span class="dictionary">project</span> in operation. Any obligation or expense hereafter incurred by the Commonwealth Transportation <span class="dictionary">Board</span> with the approval of the <span class="dictionary">Commission</span> for traffic surveys, borings, preparation of plans and specifications, and other engineering services in connection with the construction of the <span class="dictionary">project</span> shall be regarded as a part of the cost of the <span class="dictionary">project</span> and shall be reimbursed to the Commonwealth Transportation <span class="dictionary">Board</span> out of the proceeds of revenue <span class="dictionary"><span class="dictionary">bonds</span></span> issued for the <span class="dictionary">project</span> as authorized in this chapter.
		&#x201C;<span class="dictionary">District</span>&#x201D; means the political subdivision of the Commonwealth known as the Chesapeake Bay Bridge and Tunnel <span class="dictionary">District</span>.
		&#x201C;<span class="dictionary">Owner</span>&#x201D; includes all persons as defined in &#xA7;&#xA0;<a class="law" title="Person" href="/1-230/">1-230</a> having any interest or title in and to property, rights, franchises, easements, and interests authorized to be acquired by this chapter.
		&#x201C;<span class="dictionary">Project</span>&#x201D; means a bridge or tunnel or a bridge and tunnel <span class="dictionary">project</span>, including the existing bridge and tunnel crossing operated by the <span class="dictionary">Commission</span> and all or a part of an additional and generally parallel bridge and tunnel crossing, from any point within the boundaries of the <span class="dictionary">District</span> to a point in the County of Northampton, including such approaches and approach <span class="dictionary">highways</span> as the <span class="dictionary">Commission</span> deems necessary to facilitate the flow of traffic in the vicinity of such <span class="dictionary">project</span> or to connect such <span class="dictionary">project</span> with the <span class="dictionary">highway</span> 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 <span class="dictionary">Commission</span> may deem necessary for the operation of such <span class="dictionary">project</span>, together with all property, rights, franchises, easements, and interests that may be required by the <span class="dictionary">Commission</span> for the construction or the operation of such <span class="dictionary">project</span>.</p></section></text><history>1956, c. 714; 1959, Extra Session, c. 24; 1990, c. 203; 2014, c. 805.</history><metadata></metadata></law>
