                                 CODE OF VIRGINIA

DEFINITIONS (§ 15.2-5402)

Wherever used in this chapter, unless a different meaning clearly appears in the
context:
		&#8220;Authority&#8221; means a political subdivision and a body politic and
corporate created, organized and existing pursuant to the provisions of this
chapter, or if the authority is abolished, the board, body, commission,
department or officer succeeding to the principal functions thereof or to whom
the powers given by this chapter shall be given by law.
		&#8220;Bonds&#8221; or &#8220;revenue bonds&#8221; means bonds, notes and
other evidences of indebtedness of an authority issued by the authority pursuant
to the provisions of this chapter.
		&#8220;Cost&#8221; or &#8220;cost of a project&#8221; means, but shall not be
limited to, the cost of acquisition, construction, reconstruction, improvement,
enlargement, betterment or extension of any project, including the cost of
studies, plans, specifications, surveys, and estimates of costs and revenues
relating thereto, the cost of labor and materials; the cost of land, land
rights, rights-of-way and easements, water rights, fees, permits, approvals,
licenses, certificates, franchises, and the preparation of applications for and
securing the same; administrative, legal, engineering and inspection expenses;
financing fees, expenses and costs; working capital; costs of fuel and of fuel
supply resources and related facilities; interest on bonds during the period of
construction and for such reasonable period thereafter as may be determined by
the issuing authority; establishment of reserves; and all other expenditures of
the issuing authority incidental, necessary or convenient to the acquisition,
construction, reconstruction, improvement, enlargement, betterment or extension
of any project and the placing of the project in operation.
		&#8220;Governmental unit&#8221; means any incorporated city or town in the
Commonwealth owning on January 1, 1979, a system or facilities for the
generation, transmission or distribution of electric power and energy for public
and private uses and engaged in the generation or retail distribution of
electricity; any incorporated city in the Commonwealth which on January 1, 1979,
has a population of 200,000 or more; or any county or incorporated city or town
in the Commonwealth which after January 1, 1979, is authorized to participate in
an authority pursuant to an act of the General Assembly.
		&#8220;Project&#8221; means any system of facilities for the generation,
transmission, transformation, supply, or distribution of electric power and
energy by any means whatsoever, including fuel and fuel supply resources and
other related facilities, any interest therein and any right to output, capacity
or services thereof, but does not include facilities for the distribution of
electric energy for retail sale unless the facilities are owned by an authority
created by a governmental unit that is exempt from the referendum requirement of
§ 15.2-5403, and the distribution is limited to retail sales within the
geographic area that was served as of January 1, 2006, by the governmental unit
that is the sole member of such authority.
		&#8220;Unit&#8221; means any governmental unit; any electric authority; any
investor-owned electric power company; any electric cooperative association or
corporation; the Commonwealth or any other state; or any department,
institution, commission, public instrumentality or political subdivision of the
Commonwealth, any other state, or the United States.

HISTORY: 1979, c. 416, § 15.1-1605; 1997, c. 587; 2006, cc. 929, 941.