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ACROSS SESSIONS

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1994 SESSION

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LD0559727
SENATE BILL NO. 400 Offered January 25, 1994 A BILL 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 the Virginia Coalfield Economic Development Authority. ---------- Patrons--Reasor and Wampler ---------- Referred to the Committee on Local Government ----------

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 or, governmental enterprises, including any political subdivision of the Commonwealth, 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; and

9. Performing any Such other improvements as are deemed necessary by the Authority to meet its objectivesaccomplish 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.

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 That § 15.1-1646.1 of the Code of Virginia is repealed.