Bill Text: VA HB1091 | 2018 | Regular Session | Chaptered
Bill Title: Virginia Resources Authority; dredging projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-03-05 - Governor: Acts of Assembly Chapter text (CHAP0153) [HB1091 Detail]
Download: Virginia-2018-HB1091-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §62.1-199 of the Code of Virginia is amended and reenacted as follows:
§62.1-199. Definitions.
As used in this chapter, unless a different meaning clearly appears from the context:
"Authority" means the Virginia Resources Authority created by this chapter.
"Board of Directors" means the Board of Directors of the Authority.
"Bonds" means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, lease and sale-leaseback transactions or any other obligations of the Authority for the payment of money.
"Capital Reserve Fund" means the reserve fund created and established by the Authority in accordance with §62.1-215.
"Cost," as applied to any project financed under the provisions of this chapter, means the total of all costs incurred by the local government as reasonable and necessary for carrying out all works and undertakings necessary or incident to the accomplishment of any project. It includes, without limitation, all necessary developmental, planning and feasibility studies, surveys, plans and specifications, architectural, engineering, financial, legal or other special services, the cost of acquisition of land and any buildings and improvements thereon, including the discharge of any obligations of the sellers of such land, buildings or improvements, real estate appraisals, site preparation and development, including demolition or removal of existing structures, construction and reconstruction, labor, materials, machinery and equipment, the reasonable costs of financing incurred by the local government in the course of the development of the project, including the cost of any credit enhancements, carrying charges incurred before placing the project in service, interest on local obligations issued to finance the project to a date subsequent to the estimated date the project is to be placed in service, necessary expenses incurred in connection with placing the project in service, the funding of accounts and reserves which the Authority may require and the cost of other items which the Authority determines to be reasonable and necessary. It also includes the amount of any contribution, grant or aid which a local government may make or give to any adjoining state, the District of Columbia or any department, agency or instrumentality thereof to pay the costs incident and necessary to the accomplishment of any project, including, without limitation, the items set forth above. The term also includes interest and principal payments pursuant to any installment purchase agreement.
"Credit enhancements" means surety bonds, insurance policies, letters of credit, guarantees and other forms of collateral or security.
"Defective drywall" means the same as that term is defined in §36-156.1.
"Federal facility" means any building or infrastructure used or to be used by the federal government, including any building or infrastructure located on lands owned by the federal government.
"Federal government" means the United States of America, or any department, agency or instrumentality, corporate or otherwise, of the United States of America.
"Former federal facility" means any federal facility formerly used by the federal government or in transition from use by the federal government to a facility all or part of which is to serve any local government.
"Local government" means any county, city, town, municipal corporation, authority, district, commission or political subdivision created by the General Assembly or pursuant to the Constitution and laws of the Commonwealth or any combination of any two or more of the foregoing.
"Local obligations" means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, leases, credit enhancements, or any other obligations of a local government for the payment of money.
"Minimum capital reserve fund requirement" means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement which may be established in the resolution of the Authority authorizing the issuance of, or the trust indenture securing, any outstanding issue of bonds or credit enhancement.
"Project" means (i) any water supply or wastewater
treatment facility, including a facility for receiving and stabilizing
septage or a soil drainage management facility, and any solid waste
treatment, disposal, or management facility, recycling facility, federal
facility or former federal facility, or resource recovery facility located or
to be located in the Commonwealth, the District of Columbia, or any
adjoining state, all or part of which facility serves or is to serve any local
government;, and (ii) any federal facility located or to be
located in the Commonwealth, provided that both the Board of Directors of the
Authority and the governing body of the local government receiving the benefit
of the loan, grant, or credit enhancement from the Authority make a
determination or finding to be embodied in a resolution or ordinance that the
undertaking and financing of such facility is necessary for the location or retention
of such facility and the related use by the federal government in the
Commonwealth. The term includes, without limitation, water supply and intake
facilities; water treatment and filtration facilities; water storage
facilities; water distribution facilities; sewage and wastewater (including
surface and ground water) collection, treatment, and disposal
facilities; drainage facilities and projects; solid waste treatment, disposal,
or management facilities; recycling facilities; resource recovery facilities;
related office, administrative, storage, maintenance, and laboratory
facilities; and interests in land related thereto. The term also includes
energy conservation measures and facility technology infrastructure as defined
in §11-34.2 and other energy objectives as defined in §67-101. The term also
means any heavy rail transportation facilities operated by a transportation
district, created under the Transportation District Act of 1964 (§
33.2-1900 et seq.), which that operates heavy rail freight service,
including rolling stock, barge loading facilities, and any related marine or
rail equipment. The term also means, without limitation, the design and
construction of roads, the construction of local government buildings,
including administrative and operations systems and other local government
equipment and infrastructure, public parking garages and other public
transportation facilities, and facilities for public transportation by commuter
rail. In addition, the term means any project as defined in §5.1-30.1 and any
professional sports facility, including a major league baseball stadium as
defined in §15.2-5800, provided that the specific professional sports facility
projects have been designated by the General Assembly as eligible for
assistance from the Authority. The term also means any equipment, facilities,
and technology infrastructure designed to provide broadband service. The term
also means facilities supporting, related to, or otherwise used for public
safety, including, but not limited to, law-enforcement
training facilities and emergency response, fire, rescue, and police
stations. The term also means the remediation, redevelopment, and
rehabilitation of property contaminated by the release of hazardous substances,
hazardous wastes, solid wastes, or petroleum, where such
remediation has not clearly been mandated by the United States Environmental
Protection Agency, the Department of Environmental Quality, or a court pursuant
to the Comprehensive Environmental Response, Compensation and Liability Act (42
U.S.C. §9601 et seq.), the Resource Conservation and Recovery Act (42 U.S.C. §
6901 et seq.), the Virginia Waste Management Act (§10.1-1400 et seq.), the
State Water Control Law (§62.1-44.2 et seq.), or other applicable statutory or
common law or where jurisdiction of those statutes has been waived. The term
also means any program or project for land conservation, parks, park
facilities, land for recreational purposes, or land preservation, including but
not limited to any program or project involving the acquisition of rights or
interests in land for the conservation or preservation of such land. The
term also means any dredging program or dredging project undertaken to benefit
the economic and community development goals of a local government but
does not include any dredging program or dredging project undertaken for or by
the Virginia Port Authority. The term also means any oyster restoration
project, including planting and replanting with seed oysters, oyster shells, or
other material that will catch, support, and grow oysters. The term also means
any program or project to perform site acquisition or site development work for
the benefit of economic and community development projects for any local
government. The term also means any undertaking by a local government to build
or facilitate the building of a recovered gas energy facility; and any local
government renewable energy project, including solar, wind, biomass,
waste-to-energy, and geothermal projects. The term also means any undertaking
by a local government to facilitate the remediation of residential properties
contaminated by the presence of defective drywall.
"Recovered gas energy facility" means a facility, located at or adjacent to (i) a solid waste management facility permitted by the Department of Environmental Quality or (ii) a sewerage system or sewage treatment work described in §62.1-44.18 that is constructed and operated for the purpose of treating sewage and wastewater for discharge to state waters, which facility or work is constructed and operated for the purpose of (a) reclaiming or collecting methane or other combustible gas from the biodegradation or decomposition of solid waste, as defined in §10.1-1400, that has been deposited in the solid waste management facility or sewerage system or sewage treatment work and (b) either using such gas to generate electric energy or upgrading the gas to pipeline quality and transmitting it off premises for sale or delivery to commercial or industrial purchasers or to a public utility or locality.
