§ 62.1-198. Legislative findings and purposes
The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for water supply; land conservation or land preservation including land for parks and other recreational purposes; wastewater treatment facilities; drainage facilities; solid waste treatment, disposal and management facilities; recycling facilities; resource recovery facilities; energy conservation and energy efficiency projects; professional sports facilities; certain heavy rail transportation facilities; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties; the design and construction of roads, public parking garages and other public transportation facilities, and facilities for public transportation by commuter rail; construction of local government buildings; and the location or retention of federal facilities in the Commonwealth and the support of the transition of former federal facilities from use by the federal government to other uses. This need can be alleviated in part through the creation of a resources authority. Its purpose is to encourage the investment of both public and private funds and to make loans, grants, and credit enhancements available to local governments to finance water and sewer projects, land conservation or land preservation programs or projects, drainage projects, solid waste treatment, disposal and management projects, recycling projects, energy conservation and energy efficiency projects, professional sports facilities, resource recovery projects, public safety facilities, airport facilities, the remediation of brownfields and contaminated properties, the design and construction of roads, public parking garages and other public transportation facilities, and facilities for public transportation by commuter rail, technology, construction of local government buildings, and infrastructure for broadband services, and federal facilities or former federal facilities. The General Assembly determines that the creation of an authority for this purpose is in the public interest, serves a public purpose and will promote the health, safety, welfare, convenience or prosperity of the people of the Commonwealth.
(1984, c. 699; 1989, cc. 533, 551; 1990, c. 506; 1998, c. 399; 2000, c. 790; 2001, cc. 652, 661; 2003, c. 561; 2005, cc. 727, 769; 2007, cc. 81, 649, 663; 2008, cc. 3, 24, 238, 259, 504, 605, 613.)
Sections: Previous 62.1-197 62.1-198 62.1-199 62.1-200 62.1-201 62.1-202 62.1-203 62.1-204 62.1-205 62.1-206 62.1-207 62.1-208 62.1-209 62.1-210 62.1-211 NextLast modified: April 3, 2009