                                 CODE OF VIRGINIA

FEDERAL, STATE AND LOCAL ASSISTANCE (§ 56-575.10)

A. Any financing of a qualifying facility may be in such amounts and upon such
terms and conditions as may be determined by the parties to the interim or
comprehensive agreement. Without limiting the generality of the terms and
conditions of the financing, the private entity and the responsible public
entity may propose to utilize any and all funding resources that may be
available to them and may, to the fullest extent permitted by applicable law,
issue debt, equity, or other securities or obligations, enter into leases,
access any designated trust funds, borrow or accept grants from any state
infrastructure bank, and secure any financing with a pledge of, security
interest in, or lien on, any or all of its property, including all of its
property interests in the qualifying facility.

B. The responsible public entity may take any action to obtain federal, state,
or local assistance for a qualifying project that serves the public purpose of
this chapter and may enter into any contracts required to receive such
assistance. If the responsible public entity is a state agency, any funds
received from the state or federal government or any agency or instrumentality
thereof shall be subject to appropriation by the General Assembly. The
responsible public entity may determine that it serves the public purpose of
this chapter for all or any portion of the costs of a qualifying project to be
paid, directly or indirectly, from the proceeds of a grant or loan made by the
local, state, or federal government or any agency or instrumentality thereof.

HISTORY: 2002, c. 571; 2005, c. 865.