SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1994 SESSION


CHAPTER 674
An Act to amend and reenact § 15.1-1646 of the Code of Virginia and to repeal § 15.1-1646.1 of the Code of Virginia, relating to eligible use of funds of the Virginia Coalfield Economic Development Authority and special projects.
[H 1376]
Approved April 10, 1994

Be it enacted by the General Assembly of Virginia:

1. That § 15.1-1646 of the Code of Virginia is amended and reenacted as follows:

§ 15.1-1646. Eligible use of funds.

The Authority is hereby empowered to pledge its funds, and make loans and grants to or for the benefit of qualified private, for-profit enterprises and public ; governmental or corporate instrumentalities in the coalfield region of Virginia (including any political subdivision of the Commonwealth and the Breaks Interstate Park); or not-for-profit enterprises, nonprofit industrial development corporations, or industrial development authorities for financing the following:

1. Purchase of real estate;

2. Grading of site(s);

3. Construction of flood control dams;

4. Water, sewer, natural gas and/or electrical line replacement and/or extensions;

5. Construction or rehabilitation or expansion of buildings;

6. Construction of parking facilities;

7. Access roads construction and street improvements;

8. Purchase or lease of machinery and tools;

9. Performing any Such other improvements as are deemed necessary by the Authority to meet its objectives accomplish the purposes for which it was created; and

10. Construction of improvements at the Breaks Interstate Park as set forth in § 15.1-1646.1 outside the Commonwealth if in the Breaks Interstate Park.

2. That § 15.1-1646.1 of the Code of Virginia is repealed.

3. That an emergency exists and this act is in force from its passage.