A. This article may be cited as Virginia Public Building Authority Act of1981.
B. As used in this article, unless the context requires a different meaning:
"Construction" or "to construct" means acquisition and construction, allin such manner as may be deemed desirable.
"Cost" means as applied to a project financed under the provisions of thisarticle, the sum total of all costs reasonable and necessary for carrying outall works and undertakings necessary or incident to accomplish a project,including, but not limited to the cost of all necessary developmental,planning and feasibility studies, surveys, plans and specifications,architectural, engineering, financial, legal or other special services, thecost of acquisition of land and any buildings and improvements thereon,including the discharge of any obligations of the vendor of such land,buildings or improvements, site preparation and development includingdemolition or removal of existing structures, construction, andreconstruction, furnishing of a project, the reasonable cost of financingincurred in the course of the development of a project, carrying chargesduring construction to the occupancy date, interest on bonds issued tofinance a project to a date subsequent to the estimated date of completion ofa project, necessary expenses incurred in connection with the initialoccupancy of a project, the cost of reimbursing the Central Capital PlanningFund, established under § 2.2-1520, for payments made for pre-planning ordetailed planning of all projects that have been approved for construction bythe General Assembly, the funding of such funds and accounts as the Authoritydetermines to be reasonable and necessary and the cost of such other items asthe Authority determines to be reasonable and necessary.
"Fixtures" and "furnishings" means any fixtures, leasehold improvements,equipment, office furniture and furnishings whatsoever necessary or desirablefor the use and occupancy of such project, and the terms "to furnish" and"furnishing" means the acquisition and installation of such fixtures,equipment and furnishings.
"Improvement" or "to improve" means extension, enlargement, improvement,and renovation, all in such manner as may be deemed desirable.
"Major Employment and Investment project" or "MEI project" means ahigh-impact regional economic development project in which a private entityis expected to make a capital investment in real and tangible personalproperty exceeding $250 million and create more than 400 new full-time jobs,and is expected to have a substantial direct and indirect economic impact onsurrounding communities.
"Personal property" means all items of equipment, fixtures, andfurnishings, including items affixed to real property.
"Project" means any structure, facility, personal property or undertakingthat the Authority is authorized to finance, refinance, construct, improve,furnish, equip, maintain, acquire, or operate under the provisions of thisarticle.
(1981, c. 569, §§ 2.1-234.10, 2.1-234.11; 1992, c. 878; 1994, c. 823; 1996,c. 835; 1998, cc. 498, 504; 2000, cc. 67, 279; 2001, c. 844; 2008, Sp. Sess.I, cc. 1, 2; 2009, cc. 246, 311.)
A. This article may be cited as Virginia Public Building Authority Act of1981.
B. As used in this article, unless the context requires a different meaning:
"Construction" or "to construct" means acquisition and construction, allin such manner as may be deemed desirable.
"Cost" means as applied to a project financed under the provisions of thisarticle, the sum total of all costs reasonable and necessary for carrying outall works and undertakings necessary or incident to accomplish a project,including, but not limited to the cost of all necessary developmental,planning and feasibility studies, surveys, plans and specifications,architectural, engineering, financial, legal or other special services, thecost of acquisition of land and any buildings and improvements thereon,including the discharge of any obligations of the vendor of such land,buildings or improvements, site preparation and development includingdemolition or removal of existing structures, construction, andreconstruction, furnishing of a project, the reasonable cost of financingincurred in the course of the development of a project, carrying chargesduring construction to the occupancy date, interest on bonds issued tofinance a project to a date subsequent to the estimated date of completion ofa project, necessary expenses incurred in connection with the initialoccupancy of a project, the cost of reimbursing the Central Capital PlanningFund, established under § 2.2-1520, for payments made for pre-planning ordetailed planning of all projects that have been approved for construction bythe General Assembly, the funding of such funds and accounts as the Authoritydetermines to be reasonable and necessary and the cost of such other items asthe Authority determines to be reasonable and necessary.
"Fixtures" and "furnishings" means any fixtures, leasehold improvements,equipment, office furniture and furnishings whatsoever necessary or desirablefor the use and occupancy of such project, and the terms "to furnish" and"furnishing" means the acquisition and installation of such fixtures,equipment and furnishings.
"Improvement" or "to improve" means extension, enlargement, improvement,and renovation, all in such manner as may be deemed desirable.
"Major Employment and Investment project" or "MEI project" means ahigh-impact regional economic development project in which a private entityis expected to make a capital investment in real and tangible personalproperty exceeding $250 million and create more than 400 new full-time jobs,and is expected to have a substantial direct and indirect economic impact onsurrounding communities.
"Personal property" means all items of equipment, fixtures, andfurnishings, including items affixed to real property.
"Project" means any structure, facility, personal property or undertakingthat the Authority is authorized to finance, refinance, construct, improve,furnish, equip, maintain, acquire, or operate under the provisions of thisarticle.
(1981, c. 569, §§ 2.1-234.10, 2.1-234.11; 1992, c. 878; 1994, c. 823; 1996,c. 835; 1998, cc. 498, 504; 2000, cc. 67, 279; 2001, c. 844; 2008, Sp. Sess.I, cc. 1, 2; 2009, cc. 246, 311.)
A. This article may be cited as Virginia Public Building Authority Act of1981.
B. As used in this article, unless the context requires a different meaning:
"Construction" or "to construct" means acquisition and construction, allin such manner as may be deemed desirable.
"Cost" means as applied to a project financed under the provisions of thisarticle, the sum total of all costs reasonable and necessary for carrying outall works and undertakings necessary or incident to accomplish a project,including, but not limited to the cost of all necessary developmental,planning and feasibility studies, surveys, plans and specifications,architectural, engineering, financial, legal or other special services, thecost of acquisition of land and any buildings and improvements thereon,including the discharge of any obligations of the vendor of such land,buildings or improvements, site preparation and development includingdemolition or removal of existing structures, construction, andreconstruction, furnishing of a project, the reasonable cost of financingincurred in the course of the development of a project, carrying chargesduring construction to the occupancy date, interest on bonds issued tofinance a project to a date subsequent to the estimated date of completion ofa project, necessary expenses incurred in connection with the initialoccupancy of a project, the cost of reimbursing the Central Capital PlanningFund, established under § 2.2-1520, for payments made for pre-planning ordetailed planning of all projects that have been approved for construction bythe General Assembly, the funding of such funds and accounts as the Authoritydetermines to be reasonable and necessary and the cost of such other items asthe Authority determines to be reasonable and necessary.
"Fixtures" and "furnishings" means any fixtures, leasehold improvements,equipment, office furniture and furnishings whatsoever necessary or desirablefor the use and occupancy of such project, and the terms "to furnish" and"furnishing" means the acquisition and installation of such fixtures,equipment and furnishings.
"Improvement" or "to improve" means extension, enlargement, improvement,and renovation, all in such manner as may be deemed desirable.
"Major Employment and Investment project" or "MEI project" means ahigh-impact regional economic development project in which a private entityis expected to make a capital investment in real and tangible personalproperty exceeding $250 million and create more than 400 new full-time jobs,and is expected to have a substantial direct and indirect economic impact onsurrounding communities.
"Personal property" means all items of equipment, fixtures, andfurnishings, including items affixed to real property.
"Project" means any structure, facility, personal property or undertakingthat the Authority is authorized to finance, refinance, construct, improve,furnish, equip, maintain, acquire, or operate under the provisions of thisarticle.
(1981, c. 569, §§ 2.1-234.10, 2.1-234.11; 1992, c. 878; 1994, c. 823; 1996,c. 835; 1998, cc. 498, 504; 2000, cc. 67, 279; 2001, c. 844; 2008, Sp. Sess.I, cc. 1, 2; 2009, cc. 246, 311.)
