§ 33.1-54. Applicability of {{ 33.1-49 through 33.1-53, to toll projects
The provisions of §§ 33.1-49 to 33.1-53, inclusive, of this article shall not become effective with respect to those segments of the Interstate System constructed and financed as toll projects until the revenue bonds and the interest thereon issued on account of said toll projects shall have been paid or a sufficient amount for the payment of all such bonds and the interest to maturity thereon shall have been set aside in trust for the benefit of the respective bondholders. When the bonds and interest thereon, outstanding on account of such projects, shall have been paid or a sufficient amount for the payment of such bonds and the interest thereon to the maturity thereof shall have been so set aside in trust, and when the Commonwealth Transportation Board shall have by formal action, recorded in its minutes, determined the existence of such fact, then and in such event, the provisions of this article shall fully apply to such projects.
(Code 1950, § 33-36.8; 1958, c. 589; 1970, c. 322.)
Sections: Previous 33.1-48 33.1-49 33.1-49.1 33.1-50 33.1-51 33.1-52 33.1-53 33.1-54 33.1-55 33.1-56 33.1-56.1 33.1-56.2 33.1-56.3 33.1-56.4 33.1-56.5 NextLast modified: April 16, 2009