An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1968 |
---|---|
Law Number | 676 |
Subjects |
Law Body
CHAPTER 676
An Act to create the Northern Virginia Recreation and Cultural Author-
ity, embracing the cities of Alexandria, Falls Church and Fairfax and
the counties of Arlington and Fairfax, and to authorize such Author-
ity to acquire, construct, equip, maintain and operate a civic audi-
torium and athletic stadium and the usual facilities related thereto,
parking facilities or parking areas in connection therewith, recrea-
tion and cultural centers and areas, including but not limited to
exhibition, concert and entertainment halls, athletic fields, parking
facilities or parking areas in connection therewith, club houses, gym-
nasiums and related buildings and the usual and convenient facilities
appertaining to such undertakings, and extensions and improvements
of such facilities; to acquire the necessary property therefor, both
real and personal, and to lease, sell or operate any or all of such
facilities, including real property; to confer powers and to impose
duties on the Authority; to provide for the membership and for the
appointment of members of the Authority and their terms of office
and compensation; to authorize the Authority to contract with others
pertaining to the use of its facilities and to execute leases of such
facilities and to convey title to real property in fee simple of the
Authority and to do all things deemed necessary or convenient for
the operation of such undertakings; to authorize the issuance of
revenue refunding bonds, providing that no debt of the Common-
wealth or of any county, city, district or political subdivision thereof
shall be incurred in the exercise of any of the powers granted by
this act; to provide for the collection of revenues to pay such bonds
and the interest thereon and the cost of maintenance, repair and
operation of such project; to exempt from taxes and assessments
such project and such bonds and the income therefrom; to provide
for the execution of a trust agreement to secure the payment of such
bonds without mortgaging or encumbering such project; and to pre-
scribe the powers and duties of the Authority in connection with the
foregoing and the rights and remedies of the holders of bonds issued
under the provisions of this act.
[H 600]
Approved April 5, 1968
Be it enacted by the General Assembly of Virginia:
§ 1. Short Title—This may be cited as the “Northern Virginia Rec-
ion and Cultural Authority Act.”
Northern Virginia Recreation and Cultural Authority.—There
ereby created and constituted a political subdivision of the Common-
ith to be known as the Northern Virginia Recreation and Cultural
hority. The exercise by the Authority of the powers conferred by this
in the construction, operation and maintenance of a project author-
by this act shall be deemed and held to be the performance of an
ntial governmental function. The Authority shall consist of ten mem-
; appointed by the governing bodies of the respective counties and cities
tituting the Authority and for initial terms of office as follows:
Fairfax.—_Four members—two each for four year terms, one for a
three year term, and one for a two year term;
Arlington.—Two members—one for a four year term and one for a
two year term;
Alexandria.—_Two members—one for a four year term and one for
a two year term;
Falls Church.—One member for a three year term; and
Fairfax City.—One member for a three year term.
The initial terms of office shall extend from the organizational meeting
ne Authority in 1968, until its annual meetings in 1970, 1971, and 1972,
ectively, for the two, three and four year terms of office. All sub-
lent terms of office shall be for four years. All vacancies in the mem-
hip of the Authority, whether caused by expiration of term of office,
h, resignation, or otherwise, shall be filled by the governing body of
county or city which initially filled such vacancy. Any member of the
hority may be elected to succeed himself. All members, duly appointed,
1 hold office until his or her successor shall be appointed and duly
ified. Any member, appointed to fill an unexpired term, shall serve
‘for the term of the member he or she replaced. In the event any county
ity should fail to appoint a member or members to the Authority, the
abership shall consist of that number of members who are appointed
those governing bodies who are authorized to make appointments to
Authority.
The Authority shall elect one of its members as chairman and another
nber as vice chairman, both of whom shall be elected for a term of
year, the first chairman and vice chairman to serve from the organiza-
al meeting of the Authority in 1968 until the annual meeting in 1969
inti] their successors are elected and qualified. Subsequent chairmen
vice chairmen shall be elected at the annual meeting of the Authority
for a term of one year. It shall also elect a secretary and treasurer who
does not necessarily have to be a member of the Authority and, if not a
member, he or she shall have no voting rights and shall be elected to serve
for such term as may be determined by the Authority. If a member of
the Authority is elected to serve as secretary and treasurer, he or she
shall be elected in the same manner and for the same term as the chairman
and vice chairman. No member of the Authority shall hold more than one
office except that of secretary and treasurer. Six members of the Authority
eligible to vote shall constitute a quorum. A majority of the quorum is
empowered to exercise all the rights and perform all the duties of the
Authority and no vacancy on the Authority shall impair the right of the
quorum to act. The members of the Authority shall serve without com-
pensation except that they shall be reimbursed for actual expenses in-
curred in the performance of their duties. The Authority shall make rules
and regulations for its own government. It shall have perpetual existence.
§ 3. Definitions.—As used in this act, the following words and terms
shall have the following meanings: _
(a) The word “Authority” shall mean the Northern Virginia Recre-
ation and Cultural Authority created in § 2 of this act.
(b) The word “project” shall be deemed to mean and include the
acquisition, construction, equipping, maintenance and operation of a civic
auditorium and athletic stadium and the usual facilities related thereto,
parking facilities or parking areas in connection therewith, recreation and
cultural centers and areas, including, but not limited to, exhibition, concert
and entertainment halls, athletic fields, parking facilities or parking areas
in connection therewith, club houses, gymnasiums and related buildings
and the usual and convenient facilities appertaining to such undertakings,
and extensions and improvements of such facilities, acquiring the neces-
sary property therefor, both real and personal, and the lease and sale of
any part or all of such facilities, including real and personal property, so
as to assure the efficient and proper development, maintenance and opera-
tion of such facilities and areas, deemed by the Authority to be necessary,
convenient or desirable. |
(c) The term “cost of the project” shall embrace the cost of con-
struction, the cost of all lands, properties, rights, easements and franchises
acquired and the cost of all conveyances in fee simple of the Authority’s
title thereto and leases thereof, the cost of preparing the land, including
the installation of storm and sanitary sewers, the cost of all machinery,
equipment and furnishings related to the operation of any project, financ-
ing charges, interest prior to and during construction, and for six months
after completion of construction, cost of engineering, architectural, fiscal
and legal expenses, and other expenses necessary or incident to determin-
ing the feasibility or practicability of the project, administrative expenses
and such other expenses as may be necessary or incident to the financing
herein authorized, and the cost of placing any project in operation. Any
obligation or expense incurred for any of the foregoing purposes shall
be regarded as a part of the “cost of the project” and may be paid or
reimbursed as such out of any funds of the Authority, including the
proceeds of any revenue bonds issued under the provisions of this act for
any such project or projects.
(d) The word “bonds” or the words “revenue bonds” shall mean
revenue bonds or revenue refunding bonds of the Authority issued under
the provisions of this act. ;
(e) The word “owner” shall include all individuals, copartnerships,
associations or corporations and also municipalities, political subdivisions
and all public agencies and instrumentalities having any title or interest
in any property, rights, easements and interests authorized to be acquired
y this act.
(f) Any project shall be deemed “self-liquidating” if, in the juds
ment of the Authority, the revenues and earnings to be derived by th
Authority therefrom and all properties used, leased and sold in connectio
therewith will be sufficient to pay the principal and interest of the reveny
bonds which may be issued to finance, in whole or in part, the cost of suc!
project or projects.
Powers.—The Authority shall have powers:
(a) To have a seal and alter the same at pleasure;
(b) To acquire by gift, purchase, lease or otherwise, and to hold
lease and dispose of real and personal property of every kind and characte)
for its corporate purposes;
(c) To appoint, select and employ officers, agents and employees,
including engineering, architectural and construction experts, fiscal agents
and attorneys, and fix their respective compensations;
(d) To make contracts, leases and to execute all instruments neces-
Sary or convenient, including contracts for construction of projects and
leases of projects or contracts with respect to the use of projects which
it causes to be erected or acquired, and to dispose by conveyance of its
title in fee simple of real and personal property of every kind and charac-
ter, and any and all persons, firms and corporations, all cities, towns and
counties, and any and all political subdivisions, departments, institutions
or agencies of the State are hereby authorized to enter into contracts,
leases or agreements with the Authority upon such terms and for such
purposes as they deem advisable;
(e) To construct, erect, acquire, own, repair, remodel, maintain, add
to, extend, improve, equip, furnish, operate and manage projects, as here-
inabove defined, the cost of any such project to be paid in whole or in
part from the proceeds of revenue bonds or other funds of the Authority
or from such proceeds or other funds made available to the Authority ;
(f) To accept loans and/or grants of money or materials or property
of any kind from the United States of America or any agency or instru-
mentality thereof, upon such terms and conditions as the United States of
America or such agency or instrumentality, may impose;
(g) To accept loans and/or grants of money or materials or property
of any kind from the State of Virginia or any agency or instrumentality
or political subdivision thereof, upon such terms and conditions as the
State of Virginia or such agency or instrumentality or political subdivision
may impose;
(h) To borrow money for any of its corporate purposes and to execute
evidences of such indebtedness and to secure the same and to issue nego-
tiable revenue bonds payable solely from funds pledged for that purpose,
and to provide for the payment of the same and for the rights of the
holders thereof ;
(i) To exercise any power usually possessed by private corporations
performing similar functions, which is not in conflict with the Constitution
and laws of this State;
(j) The Authority and any trustee acting under any trust indenture,
are specifically authorized from time to time to sell, lease, grant, exchange
or otherwise dispose of any surplus property, both real and personal, o1
interest therein not required in the normal operation of and usable in the
furtherance of the purpose for which the Authority was created, except
as such right and power may be limited as provided in § 10 hereof;
(k) To do all things necessary or convenient to carry out the power:
expressly given in this act.
§ 5. Acquisition of Property.—(a) The Authority is hereby author
ized and empowered to acquire by purchase solely from funds provide
under the provisions of this act, such lands, structures, property rights
rights of way, franchises, easements and other interests in lands as it ma
deem necessary or convenient for the construction and operation of the
project, upon such terms and at such prices as may be considered by it to
reasonable and can be agreed upon between it and the owner thereof.
All public agencies and the commissions of the Commonwealth, with
the approval of the Governor, and the counties of Arlington and Fairfax
and the cities of Alexandria, Falls Church and Fairfax notwithstanding
any contrary provisions of law, are hereby authorized and empowered to
lease, lend, grant or convey to the Authority at its request upon such
terms and conditions as may be mutually agreed upon, without the neces-
sity for any advertisement, order of court or other action or formality,
any real property which may be necessary or convenient to the effectua-
tion of the authorized purposes of the Authority, including public high-
ways and other real property already devoted to public use.
(b) The Authority is authorized and empowered to acquire by the
exercise of the power of eminent domain limited to the definition of
“project” as set forth herein, any lands, property, rights, rights of way,
franchises, easements and other property, including parts thereof or
rights therein, of any person, copartnership, association, public service,
public utility or other corporation, or of the county, deemed necessary or
convenient for the construction or the efficient operation of the project or
necessary in the restoration, replacement or relocation of public or private
property damaged or destroyed, whenever a reasonable price cannot be
agreed upon or whenever the Authority cannot agree on the terms of pur-
chase or settlement with the owner or owners because of the incapacity
of such owner or owners or because of the inability to agree on the com-
pensation to be paid or other terms of settlement or purchase, or because
such owner or owners are nonresidents of the Commonwealth, or are
unknown, or are unable to convey valid title to such property. Such pro-
ceedings shall be in accordance with and subject to the provisions of any
and all laws of the Commonwealth applicable to the exercise of the power
of eminent domain in the same manner as provided in Chapter 4 of Title
25, and the provisions of such chapter shall apply to proceedings brought
hereunder mutatis mutandis.
The acquisition of any such property by condemnation or by the
exercise of the power of eminent domain shall be and is hereby declared
to be a public use of such property.
(c) Title to any property acquired by the Authority shall be taken in
the name of the Authority.
(d) In any eminent domain proceedings the court having jurisdic-
tion of the suit, action or proceedings may make such orders as may be
just to the Authority and to the owners of the property to be condemned
and may require an undertaking or other security to secure such owners
against any loss or damage by reason of the failure of the Authority to
accept and pay for the property, or by reason of the taking of property
occupied by such owners, but neither such undertaking or security nor
any act or obligation of the Authority shall impose any liability upon the
Commonwealth or upon any county, or other political subdivision of the
Commonwealth.
(e) If the owner, lessee or occupier of any property condemned
or otherwise acquired shall refuse to remove his property therefrom or
give up possession thereof, the Authority may proceed to obtain possession
in any manner provided by law.
Nothing herein shall permit the Authority to exercise the power of
eminent domain with regard to any property which is located in any
political subdivision which does not have the power to appoint a member
to the Authority; or in any city that elects not to become a member of
the Authority.
§ 6. Revenue Bonds. The Authority is hereby authorized to pro-
vide by resolution for the issuance, at one time or from time to time, of
revenue bonds of the Authority for the purpose of paying all or any part
of the cost of the project. The principal of and the interest on such bonds
shall be payable solely from the funds herein provided for such payment.
The bonds of each issue shall be dated, shall bear interest at such rate or
rates not exceeding six per centum (6%) per annum, shall mature at such
time or times not exceeding forty years from their date or dates, as may
be determined by the Authority, and may be made redeemable before
maturity, at the option of the Authority, at such price or prices and under
such terms and conditions as may be fixed by the Authority prior to the
issuance of the bonds. The Authority shall determine the form and the
manner of execution of the bonds, including any interest coupons to be
attached thereto, and shall fix the denomination or denominations of the
bond and the place or places of payment of principal and interest, which
may be at any bank or trust company within or without the Common-
wealth. In case any officer whose signature or a facsimile of whose signa-
ture shall appear on any bonds or coupons shall cease to be such officer
before the delivery of such bonds, such signature or such facsimile shall
nevertheless be valid and sufficient for all purposes the same as if he had
remained in office until such delivery. Notwithstanding any other provi-
sion of this act or any recitals in any bonds issued under the provisions
of this act, all such bonds shall be deemed to be negotiable instruments
under the laws of the Commonwealth. The bonds may be issued in coupon
or in registered form, or both, as the Authority may determine, and pro-
vision may be made for the registration of any coupon bonds as to prin-
cipal alone and also as to both principal and interest, for the reconversion
into coupon bonds of any bonds registered as to both principal and inter-
est, and for the interchange of registered and coupon bonds. The Author-
ity may sell such bonds in such manner, either at public or negotiated
sale and por such price, as it may determine will best effect the purposes
of this act.
The proceeds of the bonds shall be used solely for the payment of the
cost of the project, and shall be disbursed in such manner and under such
restrictions, if any, as the Authority may provide in the resolution author-
izing the issuance of such bonds or in the trust agreement hereinafter
mentioned securing the same. If the proceeds of the bonds of any issue,
by error of estimates or otherwise, shall be less than such cost, additional
bonds may in like manner be issued to provide the amount of such deficit,
and, unless otherwise provided in the resolution authorizing the issuance
of such bonds or in the trust agreement securing the same, shall be deemed
to be of the same issue and shall be entitled to payment from the same
fund without preference or priority of the bonds first issued. If the pro-
ceeds of the bonds of any issue shall exceed such cost, the surplus shall
be deposited to the credit of the sinking fund for such bonds.
Prior to the preparation of definitive bonds, the Authority may, under
like restrictions, issue interim receipts or temporary bonds, with or with-
out coupons, exchangeable for definitive bonds when such bonds shall have
been executed and are available for delivery. The Authority may also pro-
vide for the replacement of any bonds which shall become mutilated or
shall be destroyed or lost. Bonds may be issued under the provisions of
this act without obtaining the consent of any department, division, com-
mission, board, bureau or agency of the Commonwealth, and without any
other proceedings or the happening of any other conditions or things than
those proceedings, conditions or things which are specifically required by
is act.
§ 7. Trust Agreement.—lIn the discretion of the Authority any bonds
issued under the provisions of this act may be secured by a trust agree-
ment by and between the Authority and a corporate trustee, which may
be any trust company or bank having the powers of a trust company
within or without the Commonwealth. Such trust agreement or the resolu-
tion providing for the issuance of such bonds may pledge or assign the
tolls and other revenues to be received, but shall not convey or mortgage
the project or any part thereof. Such trust agreement or resolution pro-
viding for the issuance of such bonds may contain such provisions for
protecting and enforcing the rights and remedies of the bondholders as
may be reasonable and proper and not in violation of law, including cove-
nants setting forth the duties of the Authority in relation to the acqui-
sition of property and the construction, improvement, maintenance, repair,
operation and insurance of the proj ject, the rates of toll or other charges
to be charged, and the custody, safeguarding and application of all moneys.
It shall be lawful for any bank or trust company incorporated under
the laws of the Commonwealth which may act as depositary of the pro-
ceeds of bonds or of revenues to furnish such indemnifying bonds or to
pledge such securities as may be required by the Authority. Any such
trust agreement may set forth the rights and remedies of the bondholders
and of the trustee, and may restrict the individual right of action by bond-
holders. In addition to the foregoing, any such trust agreement or reso-
lution may contain such other provisions as the Authority may deem
reasonable and proper for the security of the bondholders. All expenses
incurred in carrying out the provisions of such trust agreement or resolu-
tion may be treated as a part of the cost of the operation of the project.
§ 8. Revenues.—The Authority is hereby authorized to fix, revise,
charge and collect tolls or other charges for the use of the project and
to contract with any person, partnership, association or corporation desir-
ing the use of any part thereof, including the right of way adjoining the
project for placing thereon telephone, telegraph, electric light or power
lines. and to fix the terms, conditions, rents and rates of charges for such
use. Such tolls or other charges shall be so fixed and adjusted in respect
of the aggregate of tolls or other charges from the project as to provide
a fund sufficient with other revenues, if any, to pay (a) the cost of main-
taining, repairing and operating such project and (b) the principal of and
interest on such bonds as the same shall become due and payable, and to
create reserves for such purposes. The tolls and al] other revenues derived
from the project, except such part thereof as may be necessary to pay
such cost of maintenance, repair and operation and to provide such
reserves therefor as may be provided for in the resolution authorizing the
issuance of such bonds or in the trust agreement securing the same; shall
be set aside at such regular intervals as may be provided in such resolu-
tion or such trust agreement in a sinking fund which is hereby pledged
to, and charged with, the payment of the principal of and the interest on
such bonds as the same shall become due, and the redemption price or
the purchase price of bonds retired by call or purchase as therein pro-
vided. Such pledge shall be valid and binding from the time when the
pledge is made; the tolls and other revenues or other moneys so pledged
and thereafter received by the Authority shall immediately be subject to
the lien of such pledge without any physical delivery thereof or further
act, and the lien of any such pledge shall be valid and binding as against
all parties having claims of any kind in tort, contract or otherwise against
the Authority, irrespective of whether such parties have notice thereof.
Neither the resolution or any trust agreement by which a pledge is created
need be filed or recorded except in the records of the Authority. The use
and disposition of moneys to the credit of such sinking fund shall be
subject to the provisions of the resolution authorizing the issuance of such
bonds or of such trust agreement. Except as may otherwise be provided
in such resolution or such trust agreement, such sinking fund shall be a
fund for all such bonds without distinction or priority of one over another.
§ 9. Trust Funds.—All moneys received pursuant to the provisions
of this act, whether as proceeds from the sale of bonds or as revenues,
shall be deemed to be trust funds to be held and applied solely as pro-
vided in this act. The Authority shall, in the resolution authorizing the
bonds or in the trust agreement securing such bonds, provide for the pay-
ment of the proceeds of the sale of the bonds and the revenues to be
received by a trustee, which shall be any trust company or bank having
the powers of a trust company within or without the Commonwealth,
which shall act as trustee of the funds, and hold and apply the same to
the purposes of this act, subject to such regulations as this act and such
resolution or trust agreement may provide. The trustee may invest and
reinvest such funds in such securities as may be provided in the resolution
authorizing the bonds or in the trust agreement securing such bonds.
§ 10. Remedies.—Any holder of bonds issued under the provisions
of this act or of any of the coupons appertaining thereto, and the trustee
under any trust agreement, except to the extent the rights herein given,
may be restricted by such trust agreement, may either at law or in equity,
by suit, action, injunction, mandamus or other proceedings, protect and
enforce any and all rights under the laws of the Commonwealth or granted
by this act or under such trust agreement or the resolution authorizing
the issuance of such bonds and may enforce and compel the performance
of all duties required by this act or by such agreement or resolution to
be performed by the Authority or by any officer or agent thereof includ-
ing the fixing, charging and collection of tolls or other charges.
§ 11. Exemption from Taxation—The exercise of the powers
granted by this act shall be in all respects for the benefit of the inhab-
itants of the Commonwealth, for the increase of their commerce, and for
the promotion of their safety, health, welfare, convenience and prosperity,
and as the operation and maintenance of the project by the Authority will
constitute the performance of essential governmental functions, the Au-
thority shall not be required to pay any taxes or assessments upon the
project or any property acquired or used by the Authority under the pro-
visions of this act or unon the income therefrom: and the bonds issued
under the provisions of this act, their transfer and the income therefrom,
including any profit made on the sale thereof. shall at all times be free
and exempt from taxation by the Commonwealth and by any municipality,
county or other political subdivision thereof.
§ 12. Revenue Refunding Bonds.—The Authority is hereby author-
ized to provide by resolution for the issuance of its revenue refunding
bonds for the purpose of refunding any bonds then outstanding which shall
have been issued under the provisions of this act, including the payment
of any redemption premium thereon and any interest accrued or to accrue
to the date of redemption of such bonds, and, if deemed advisable by the
Authority, for the additional purpose of constructing improvements, exten-
sions or enlargements of the project. The issuance of such bonds, the
maturities and other details thereof, the rights of the holders thereof,
and the rights, duties and obligations of the Authority in respect of the
same, shall be governed by the provisions of this act insofar as the same
may be applicable.
8 18. Purpose of the Authority.—Without limiting the generality of
any provisions of this act, the general purpose of the Authority is declared
to be that of acquiring, constructing, equipping, maintaining and operat-
ing a civic auditorium and/or athletic stadium and athletic field and other
related facilities for athletic, sporting, cultural, religious, political, musi-
cal, educational and other events, and parking facilities and parking areas
in connection therewith; for acquiring, constructing, equipping, maintain-
ing and operating recreational centers and areas, including but not limited
to athletic fields, parking facilities or parking areas in connection there-
with, exhibition, concert and entertainment halls, club houses, gymnasiums
and related buildings and the usual and convenient facilities appertaining
to such undertakings; the extension and improvement of such facilities;
acquiring the necessary property therefor, both real and personal, with
the right to contract for the use of or to lease or sell any or all of such
facilities, including real property, and to do any and all things deemed
by the Authority necessary, convenient and desirable for and incident to
the efficient and proper development and operation of such types of
undertakings.
§ 14. Rules and Regulations for Operation of Projects.—It shall be
the duty of the Authority to prescribe rules and regulations for the opera-
tion of the project or projects constructed under the provisions of this act.
Powers Declared Supplemental and Additional.—The forego-
ing sections of this act shall be deemed to provide an additional and alter-
native method for the doing of things authorized thereby and shall be
regarded as supplemental and additional to powers conferred by other
laws, and shall not be regarded as in derogation of any powers now
existing.
§ 16. Act Liberally Construed.—This act, being necessary for the
welfare of the Commonwealth and its inhabitants, shall be liberally con-
strued to effect the purposes thereof.
§ 17. Constitutional Construction.—The provisions of this act are
severable and if any of its provisions shall be held unconstitutional by any
court of competent jurisdiction, the decision of such court shall not affect
or impair any of the remaining provisions of this act. It is hereby
declared to be the legislative intent that this act would have been adopted
had such unconstitutional provisions not been included therein.
§ 18. Inconsistent Laws Inapplicable.—All other general or special
laws inconsistent with any provision of this act are hereby declared to be
inapplicable to the provisions of this act.