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2006 SESSION
067647376Be it enacted by the General Assembly of Virginia:
1. That § 33.1-288 of the Code of Virginia is amended and reenacted as follows:
§ 33.1-288. Use of certain funds by Board.
The Board may, in its discretion, use any part of funds
available for the construction of state highways, in any construction district
in which any project authorized for toll revenue bond financing by the
Commonwealth Transportation Board as described in § 33.1-268, or
by the Richmond-Petersburg Turnpike Authority as described by § 33.1-319, or
by the Richmond Metropolitan Authority as described by § 33.1-320, or
by the Elizabeth River Tunnel Commission as described by Chapter 130 of the
1942 Acts of Assembly as amended, is wholly or partly located, to
aid in the payment of the cost of such projects and for the payment, purchase
or redemption of revenue bonds issued in connection with any such project, or
in connection with any such project and any one or more other projects. The
Board may also, in its discretion, use any part of funds available for the
maintenance of state highways, in any construction district in which any such
project is wholly or partly located, to provide for the operation, maintenance
and repair of any such project and for the payment of interest on revenue bonds
issued in connection with any such project, or in connection with any such
project and any one or more other projects; provided further, the Commonwealth
Transportation Board may, in its discretion, use funds under the terms of this
section for the emergency operation, maintenance and repair of the project of
the Chesapeake Bay Bridge and Tunnel Commission as described by § 33.1-253 in
the event of damage to the bridge under a repayment agreement approved by the
bond trustee, and may also pay to the Chesapeake Bay Bridge and Tunnel
Commission, for aid in the maintenance of the project, the same amounts authorized
by § 33.1-41.1 for payments for maintenance to certain incorporated towns and
cities.
Provided, however, that in the event the Board uses any part of the fund available to itself for the construction of roads in the State Highway System without reference to construction districts, commonly called the "gap fund," for any purpose permitted by this section, it shall not expend in excess of three eighths of the amount of such fund, including other amounts of such fund that may be expended in the three districts in which such projects are located; and provided, further, that in no case shall any of the funds of any construction district other than those in which the projects are located be used for the purposes of this article.
2. That § 33.1-319 of the Code of Virginia is repealed.