                                 CODE OF VIRGINIA

TOLL BRIDGES MAY BE PURCHASED BY COMMONWEALTH (§ 33.2-608)

In addition to the power of eminent domain as provided by law for highways in
the primary state highway system, the Commonwealth, acting through the
Commissioner of Highways, may purchase any such toll bridge and the approaches
thereto with the real estate and tangible personal property necessary for their
proper operation, at such time as may be specified in the permit granted for
such toll bridge, or at the expiration of any two-year period after such time,
all at a price equal to the original cost, to be determined as provided in this
section, less depreciation.
		In order to exercise the right of the Commonwealth to purchase and take over
any such toll bridge and approaches and real estate and tangible personal
property, the Commonwealth, through the Commissioner of Highways, shall give to
the permittee, or its successor in title of record to such toll bridge and other
property, not less than two months&#8217; notice of its intention to do so and
specify the date on which the conveyance will be required. Title to such toll
bridge and approaches and property shall be vested in the Commonwealth free of
lien at the time set out in such notice and upon the payment or offer of the
purchase price determined in accordance with §§ 33.2-602 through 33.2-610, to
such permittee or successor in title of record to such toll bridge and other
property, or to the trustee or trustees, or mortgagor or mortgagees in any deed
of trust or mortgage on such property, or to the lien creditor or creditors, as
their interest may appear of record.
		The original cost of such toll bridge and approaches and real estate and
tangible personal property shall be determined by the Commissioner of Highways.
The original cost shall include the actual cost and an additional amount equal
to interest at the rate of six percent on the amount actually invested by such
permittee, or successor in title of record, in such property, or in hand for
investment therein, during the period of construction. &#8220;Actual
costs&#8221; includes the cost of improvements; financing charges; the cost of
traffic estimate and of engineering and legal expenses, plans, specifications,
and surveys; estimates of cost and of revenue; other expenses necessary or
incident to determining the feasibility or practicability of the enterprise;
administrative expenses; and such other expenses as may be necessary or incident
to the financing of the project and the placing of the project in operation. The
Commissioner of Highways shall determine the depreciation and the reasonableness
of each item of actual cost.

HISTORY: Code 1950, § 33-224; 1956, c. 138; 1970, c. 322, § 33.1-264; 2014, c.
805.