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1998 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 10.1-112 of the Code of Virginia is amended and reenacted as follows:
§ 10.1-112. Capital improvement projects.
The Director is authorized to make and execute leases and contracts in the name of the Commonwealth for the development and operation of revenue-producing capital improvement projects in Virginia state parks upon the written approval of the Governor. Prior to approval, the Governor shall consider the written recommendation of the Director of the Department of General Services and the Attorney General shall review such leases and contracts as to form.
Any contract or lease for the development and operation of the capital improvement project shall be in accordance with the provisions of the Virginia Public Procurement Act (§ 11-35 et seq.). The accepted bidder shall give a performance bond for the construction, operation and maintenance of the project with good and sufficient surety in an amount fixed by the Director for the faithful performance of the conditions and covenants of such lease or contract.
Such lease or contract, with an initial term not exceeding
twenty-five thirty years, shall be subject to terms,
conditions, and limitations as the Director may prescribe and may be renewed
with the approval of the Director. The proceeds arising from a contract or
lease executed pursuant to this section shall be paid into the Conservation
Resources Fund established in § 10.1-202.