                                 CODE OF VIRGINIA

LEGISLATIVE FINDINGS AND PURPOSES (§ 33.2-1500)

The General Assembly finds that there exists in the Commonwealth a critical need
for additional sources of funding to finance the present and future needs of the
Commonwealth for the design and construction of highways, including toll
facilities; mass transit; freight, passenger and commuter rail, including
rolling stock; and port, airport, and other transportation facilities. This need
can be alleviated in part through the creation of a transportation
infrastructure bank. The purpose of such bank is to encourage the investment of
both public and private funds and to make loans and other financial assistance
available to localities, private entities, and other eligible borrowers to
finance eligible transportation projects. The General Assembly determines that
the creation of a transportation infrastructure bank for this purpose is in the
public interest, serves a public purpose, and will promote the health, safety,
welfare, convenience, or prosperity of the people of the Commonwealth.

HISTORY: 2011, cc. 830, 868, § 33.1-23.6; 2014, c. 805.