CHAPTER 714

Act conferring additional powers on the Chesapeake Bay Ferry Com-
mission, the governing body of the Chesapeake Bay Ferry District;
authorizing the Commission (a) to establish, construct, maintain, re-
pair and operate a bridge or tunnel or a bridge and tunnel project
from any point within the boundaries of the District to a point in the
County of Northampton, (b) to acquire or construct enlargements or
improvements to any public ferry service then being operated by
the Commission, (c) to issue revenue bonds of the District, payable
solely from tolls and other revenues, for any one or more of the fol-
lowing purposes (1) paying the cost of such project, (it) paying the
cost of acquiring or constructing such enlargements or improve-
ments, and (tii) refunding any outstanding revenue bonds. of the
District which shall have been issued under the provisions of this
Act or Chapter 693 of the Acts of Assembly of 1954, (d) to fix, revise,
charge and collect tolls and other charges for the use of such projeet
and any such public ferry service to pay such bonds and the interest
thereon and the cost of maintenance, repair and operation, and (e)
to combine for financing purposes such project and any such public
ferry service or services; granting to the Commission power to
acquire necessary real and personal property and to exercise the
power of eminent domain; providing that no debt of the District or
of the State shall be incurred in the exercise of any of the powers
granted by this Act; exempting from taxes and assessments such
project and such public ferry service or services and such bonds
and the income therefrom; and describing the powers and duties of
the Commission in connection with the foregoing and the rights and
remedies of the holders of bonds issued under the provisions of this

Act.
[S 165]
Approved March 31, 1956

Be it enacted by the General Assembly of Virginia:

§ 1. Short Title—This act shall be known, and may be cited, as the
esapeake Bay Revenue Bond Act”.

§ 2. Definitions —As used in this act the following words shall
e the following meanings:

(a) The word “District” shall mean the Chesapeake Bay Ferry
trict, a political subdivision of the State of Virginia, duly created by
pter 693 of the Acts of Virginia of 1954, as amended.

(b) The word “Commission” shall mean the Chesapeake Bay Ferry
nmission duly created as the governing body of the District by said
ipter 693, as amended, or if said Commission shall be abolished, any
rd, commission or officer succeeding to the principal functions thereof,
upon whom the powers given by this act to said Commission shall be
on by law.
(c) The word “project” shall mean a bridge or tunnel or a bridge
and tunnel project from any point within the boundaries of the District
to a point in the county of Northampton, including such approaches and
approach highways as the Commission shall deem necessary to facilitate
the flow of traffic in the vicinity of such project or to connect such project
with the highway system or other traffic facilities in the State, and in-
cluding all overpasses, underpasses, interchanges, entrance plazas, toll
houses, service stations, garages, restaurants, and administration, storage
and other buildings and facilities which the Commission may deem
necessary for the operation of such project, together with all property,
rights, franchises, easements and interests which may be acquired by the
Commission for the construction or the operation of such project, which
project may replace or supplement all or any part of any public ferry
service or services then existing in the District.

(d) The word “cost” as applied to the project shall embrace the cost
of construction, the cost of the acquisition of all land, rights of way,
property, rights, franchises, easements, and interests acquired by the
Commission for such construction, the cost of demolishing or removing
any buildings or structures on land so acquired, including the cost of
acquiring any lands to which such buildings or structures may be moved,
the cost of all machinery and equipment, provision for reasonable working
capital, financing charges, interest prior to and during construction and,
if deemed advisable by the Commission, for a period not exceeding one year
after completion of construction, cost of traffic estimates and of engineer-
ing and legal services, plans, specifications, surveys, estimates of cost
and of revenues, other expenses necessary or incident to determining the
feasibility or practicability of constructing such project, administrative
expense, and such other expenses as may be necessary or incident to the
construction of the project, the financing of such construction and the
placing of the project in operation. Any obligation er expense hereafter
incurred by the State Highway Commission with the approval of the
Commission for traffic surveys, borings, preparation of plans and specifica-
tions, and other engineering services in connection with the construction
of the project shall be regarded as a part of the cost of such project and
shall be reimbursed to the State Highway Commission out of the proceeds
of revenue bonds issued for the project as hereinafter authorized.

(e) The word “owner” shall include all persons as defined in § 1°13.19
of the Code of Virginia having any interest or title in and to property,
rights, franchises, easements and interests authorized to be acquired by
this act.

§ 8. Bonds not to constitute a debt or pledge of taxing power.—Reve-
nue bonds issued under the provisions of this act shall not be deemed to
constitute a debt of the District or of the State of Virginia or of any county,
city, district or political subdivision thereof, or a pledge of the faith and
credit of the District or of the State or of any county, city, district or
political subdivision thereof, but such bonds shall be payable solely from
the funds herein provided therefor from tolls and other revenues. The
issuance of revenue bonds under the provisions of this act shall not directly
or indirectly or contingently obligate the District, the State or any county,
city, district or political subdivision thereof to levy or to pledge any form of
taxation whatever therefor. All such revenue bonds shall contain a state-
ment on their face substantially to the foregoing effect.

§ 4. Additional Powers of the Commission.—Without in any manner
limiting or restricting the powers heretofore given to the Commission, the
Commission is hereby authorized and empowered:

(a) To establish, construct, maintain, repair and operate the project;
provided, however, that no such project shall be constructed unless ade-
quate provision shall be made for the retirement of any revenue bonds
theretofore issued by the Commission under the provisions of Chap 693
of the Acts of Virginia of 1954;

(b) To determine the location, character, size and capacity of the
project, to establish, limit and control such points of ingress to and egress
from the project as may be necessary or desirable in the judgment of the
Commission to insure the proper operation and maintenance of the project,
and to prohibit entrance to such project from any point or points not so
designated. The Commission shall coordinate their plans with those of
the State Highway Commission insofar as practicable;

(c) To secure all necessary federal authorizations, permits and ap-
paoyals for the construction, maintenance, repair and operation of the
project;

(d) To acquire or construct enlargements or improvements to any
public ferry service then being operated by the Commission ;

(e) To make rules and regulations for the conduct of its business; —

_ _(£) To acquire, by purchase or condemnation, in the name of the Dis-
trict, hold and dispose of real and personal property for the corporate pur-
poses of the District;

(g) To acquire full information to enable it to establish, construct,
maintain, repair and operate the project;

(h) To employ consulting engineers, a superintendent or manager of
the project, and such other engineering, architectural, construction and ac-
counting experts and inspectors and attorneys and such other employees as
may be deemed necessary, and within the limitations prescribed in this
act, to prescribe their powers and duties and fix their compensation;

(i) To pay, from any available moneys, the cost of plans, specifica-
tions, surveys, estimates of cost and revenues, legal fees and other expenses
necessary or incident to determining the feasibility or practicability of
financing, constructing, maintaining, repairing and operating the project ;

(j) To issue revenue bonds of the District, for any of its corporate
purposes, payable solely from the tolls and revenues pledged for their pay-
ment, and to refund its bonds, all as provided in this act;

(k) ‘To fix and revise from time to time and to charge and collect tolls
and other charges for the use of the project and any public ferry service
then being operated by the Commission ;

(1) To combine for financing purposes the project and any public ferry
service or services then being operated by the Commission;

(m) To make and enter into all contracts or agreements, as the Com-
mission may determine, which are necessary or incidental to the perform-
ance of its duties and to the execution of the powers granted under this act;

(n) To accept loans and grants of money or materials or property at
any time from the United States of America, or the State of Virginia or any
agency or instrumentality thereof; .

(0) To adopt an official seal and alter the same at its pleasure; and to
make and from time to time amend and repeal by-laws and rules and regu-
lations not inconsistent with law to carry into effect the powers and pur-
poses of the Commission;

(p) To sue and be sued, plead and be impleaded, all in the name of the
District;

(q) To exercise any power usually possessed by private corporations
performing similar functions, including the right to expend, solely from
funds provided under the authority of this act, such funds as may be con-
sidered by the Commission to be advisable or necessary in advertising its
facilities and services to the traveling public; and

(r) To do all acts and things necessary or incidental to the perform-
ance of its duties and the execution of its powers under this act.
§ 5. Acquisition of Property——The Commission is hereby authorized
and empowered to acquire by purchase, whenever it shall deem such pur-
chase expedient, solely from funds provided under the authority of this
act, such lands, structures, rights of way, property, rights, franchises,
easements and other interests in lands, including lands lying under water
and riparian rights, which are located within the State, as it may 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 be rea-
sonable and can be agreed upon between it and the owner thereof, and to
take title thereto in the name of the District.

All, counties, cities, towns and other political subdivisions and all
public agencies and commissions of the State, notwithstanding any con-
trary provision of law, are hereby authorized and empowered to lease,
lend, grant or convey to the District at the Commission’s request upon such
terms and conditions as the proper authorities of such counties, cities,
towns, political subdivisions, agencies or commissions of the State may
deem reasonable and fair and without the necessity for any advertise-
ment, order of court or other action or formality, other than the regular
and formal action of the authorities concerned, any real property which
may be necessary or convenient to the effectuation of the authorized pur-
poses of the Commission, including public roads and other real property
already devoted to public use.

Whenever a reasonable price cannot be agreed upon, or whenever the
owner is legally incapacitated or is absent, unknown or unable to convey
valid title, the Commission is hereby authorized and empowered to acquire
by condemnation or by the exercise of the power of eminent domain any
lands, property, rights, rights of way, franchises, easements and other
property, including public lands, parks, playgrounds, reservations, high-
ways or parkways, or parts thereof or rights therein, of any person, co-
partnership, association, railroad, public service, public utility or other
corporation, municipality or political subdivision deemed necessary or con-
venient for the construction or the efficient operation of the project or
necessary in the restoration of public or private property damaged or
destroyed. Such proceedings shall be in accordance with and subject to the
provisions of any and all laws applicable to condemnation of property in
the name of the State Highway Commissioner under the laws of the State
of Virginia. Title to any property acquired by the Commission shall be
taken in the name of the District. In any condemnation proceedings the
court having jurisdiction of the suit, action or proceeding may make such
orders as may be just to the Commission and to the owners of the prop-
erty 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 Commission to accept and pay for the property, but neither such
undertaking or security nor any act or obligation of the Commission shall
impose any liability upon the District except as may be paid from the
funds provided under the authority of this act.

If the owner, lessee or occupier of any property to be condemned shall
refuse to remove his personal property therefrom or give up possession
thereof, the Commission may proceed to obtain possession in any manner
now or hereafter provided by law.

With respect to any railroad property or right of way upon which
railroad tracks are located, any powers of condemnation or of eminent
domain may be exercised to acquire only an easement interest therein
which shall be located either sufficiently far above or sufficiently far below
the grade of any railroad track or tracks upon such railroad property so
that neither the proposed project nor any part thereof, including any
bridges, abutments, columns, supporting structures and appurtenances,
nor any traffic upon it shall interfere in any manner with the use, opera-
tion or maintenance of the trains, tracks, works or appurtenances or other
property of the railroad nor endanger the movement of the trains or traffic
upon the tracks of the railroad. Prior to the institution of condemnation
proceedings for such easement over or under such railroad property or
right of way, plans and specifications of the proposed project showing
compliance with the above mentioned above or below grade requirements
and showing sufficient and safe plans and specifications of such overhead or
undergrade structure and appurtenances shall be submitted to the rail-
road for examination and approval. If the railroad fails or refuses within
thirty days to approve the plans and specifications so submitted, the matter
shall be submitted to the Corporation Commission, as to the sufficiency and
safety of such plans and specifications and as to such elevations or dis-
tances above or below the tracks. Said overhead or undergrade structure
and appurtenances shall be constructed only in accordance with such plans
and specifications and in accordance with such elevations or distances above
or below the tracks so approved by the railroad or the Corporation Com-
mission as the case may be. A copy of the plans and specifications ap-
proved by the railroad or the Corporation Commission shall be filed as an
exhibit with the petition for condemnation. The cost of any such overhead
or undergrade projects and appurtenances and any expense and cost in-
curred in changing, adjusting, relocating or removing the lines and grades
of such railroad in connection with the project shall be paid by the Com-
mission as a part of the cost of the project.

§ 6. Incidental Powers.—The Commission shall have power to con-
struct grade separations at intersections of the project with public high-
ways and to change and adjust the lines and grades of such highways so
as to accommodate the same to the design of such grade separation. The
cost of such grade separations and any damage incurred in changing and
adjusting the lines and grades of such highways shall be ascertained and
paid by the Commission as a part of the cost of the project. ,

If the Commission shall find it necessary to change the location of
any portion of any public highway, it shall cause the same to be recon-
structed at such location as the Commission shall deem most favorable and
of substantially the same type and in as good condition as the original
highway. The cost of such reconstruction and any damage incurred in
changing the location of any such highway shall be ascertained and paid
by the Commission as a part of the cost of the project.

Any public highway affected by the construction of the project may
be vacated or relocated by the Commission in the manner now provided
by law for the vacation or relocation of public roads, and any damages
awarded on account thereof shall be paid by the Commission as a part of
the cost of the project.

In addition to the foregoing powers, the Commission and its authorized
agents and employees may enter upon any lands, waters and premises in
the State for the purpose of making surveys, soundings, drillings and
examinations as they may deem necessary or convenient for the purposes
of this act, and such entry shall not be deemed a trespass, nor shall an
entry for such purposes be deemed an entry under any condemnation pro-
ceedings which may be then pending. The Commission shall make reim-
pbursement for any actual damage resulting to such lands, waters and
premises as a result of such activities.

The Commission shall also have power to make reasonable regulations
for the installation, construction, maintenance, repair, renewal, relocation
and removal of tracks, pipes, mains, conduits, cables, wires, towers, poles
and other equipment and appliances (herein called “public utility facili-
ies’) of any public utility in, on, along, over or under the project. When-
ever the Commission shall determine that it is necessary that any such
public utility facilities which now are, or hereafter may be, located in,
on, along, over or under the project should be relocated in the project,
or should be removed from the project, the public utility owning or oper-
ating such facilities shall relocate or remove the same in accordance with
the order of the Commission ; provided, however, that the cost and expenses
of such relocation or removal, including the cost of installing such facilities
in a new location or new locations, and the cost of any lands, or any rights
or interests in lands, and any other rights, acquired to accomplish such
relocation or removal, shall be ascertained and paid by the Commission
as a part of the cost of the project. In case of any such relocation or re-
moval of facilities, the public utility owning or operating the same, its
successors or assigns, may maintain and operate such facilities, with the
necessary appurtenances, in the new location or new locations, for as long
a period, and upon the same terms and conditions, as it had the right to
maintain and operate such facilities in their former location or locations.

The State of Virginia hereby consents to the use of all lands owned
by it, including lands lying under water, which are deemed by the Com-
mission to be necessary for the construction or operation of the project.

§ 7. Revenue Bonds.—The Commission is hereby authorized to pro-
vide by resolution, at one time or from time to time, for the issuance of
revenue bonds of the District for any one or more of the following pur-
poses: (a) paying all or a part of the cost of all or a part of the project,
(b) paying the cost of acquiring or constructing enlargements or improve-
ments to any public ferry service then being operated by the Commission,
and (c) refunding any outstanding revenue bonds of the District which
shall have been issued under the provisions of this act or Chapter 693 of
the Acts of Virginia of 1954, including the payment of any redemption
premium thereon and any interest accrued or to accrue to the date of re-
demption of such bonds. 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 five per centum per annum, payable semi-annually,
shall mature at such time or times, not exceeding forty years from their
date or dates, as may be determined by the Commission, and may be made
redeemable before maturity, at the option of the Commission, at such
price or prices and under such terms and conditions as may be fixed by
the Commission prior to the issuance of the bonds. The principal and
interest of such bonds may be made payable in any lawful medium. The
Commission shall determine the form of the bonds, including any interest
coupons to be attached thereto, and the manner of execution of the bonds,
and shall fix the denomination or denominations of the bonds and the
place or places of payment of principal and interest thereof, which may
be at any bank or trust company within or without the State. In case any
officer whose signature or a facsimile of whose signature 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. All revenue bonds issued under the provisions of this act
shall have and are hereby declared to have, as between successive holders,
all the qualities and incidents of negotiable instruments under the negoti-
able instruments law of the State. The bonds may be issued in coupon
or in registered form, or both, as the Commission 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, and for the recon-
version of any bonds registered as to both principal and interest into
coupon bonds. The Commission may sell such bonds in such manner and
CH. 714] ACTS OF ASSEMBLY 1069

for such price as it may determine to be for the best interest of the Dis-
trict, but no such sale shall be made at a price so low as to require the pay-
ment of interest on the money received therefor at more than five per
centum per annum computed with relation to the absolute maturity of the
bonds in accordance with standard tables of bond values, excluding, how-
ever, from such computations the amount of any premium to be paid on
redemption of any bonds prior to maturity. The proceeds of such bonds
shall be disbursed for the purposes for which such bonds shall have been
issued under such restrictions, if any, as the resolution authorizing the
issuance of such bonds or the trust indenture hereinafter mentioned may
provide. If the bonds of a particular issue, by error of estimates or other-
wise, shall be less than such cost, additional bonds may in like manner
be issued to provide the amount of such deficit and, unless otherwise pro-
vided in the resolution authorizing the issuance of the bonds or in the
trust indenture 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 for the same purpose. If the proceeds
of the bonds of any issue shall exceed the amount required for the purpose
for which such bonds are issued, the surplus shall be paid into the funds
hereinafter provided for the payment of principal and interest of such
bonds. Prior to the preparation of definitive bonds, the Commission may,
under like restrictions issue temporary bonds, with or without coupons,
exchangeable for definitive bonds when such bonds shall have been executed
and are available for delivery. The Commission may also provide for the
replacement of any bond which shall become mutilated or shall be de-
stroyed or lost. Such revenue bonds may be issued without any other
proceedings or the happening of any other conditions or things than the
proceedings, conditions, and things which are specified and required by this
act.

§ 8. Trust Indenture—In the discretion of the Commission any
bonds issued under the provisions of this act may be secured by a trust
indenture by and between the Commission and a corporate trustee, which
may be any trust company or bank having the powers of a trust company
within or without the State. Such trust indenture or the resolution pro-
viding 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 public ferry service then being operated by the Commission
or any part thereof. Such trust indenture or resolution providing for the
issuance of such bonds may contain such provisions for protecting and
enforcing the rights and remedies of the bondholders as may be reason-
able and proper and not in violation of law, including covenants setting
forth the duties of the Commission in relation to the acquisition of prop-
erty and the construction, improvement, maintenance, repair, operation
and insurance of the project and any public ferry service then being
operated by the Commission in connection with which such bonds shall
have been authorized, the rates of toll to be charged, and the custody,
safeguarding and application of all moneys. It shall be lawful for anv
bank or trust company incorporated under the laws of the State which
may act as depository of the proceeds of bonds or of revenues to furnish
such indemnifying bonds or to pledge such securities as may be required
by the Commission. Any such trust indenture may set forth the rights
and remedies of the bondholders and of the trustee, and may restrict
the individual right of action by bondholders. In addition to the fore-
going, any such trust indenture or resolution may contain such other
provisions as the Commission may deem reasonable and proper for the
security of the bondholders. All expenses incurred in carrying out the
provisions of such trust indenture or resolution may be treated as a part
1070 ACTS OF ASSEMBLY [vA., 1956

of the cost of the operation of the project or any public ferry service then
being operated by the Commission.

§ 9. Revenues.—-The Commission is hereby authorized to fix, revise,
charge and collect tolls for the use of the project or any public ferry
service then being operated by the Commission, and to contract with
any person, partnership, association or corporation desiring the use thereof,
and to fix the terms, conditions, rents and rates of charges for such use.

Such tolls shall be so fixed and adjusted in respect of the aggregate
of tolls from the project or any public ferry service then being operated
by the Commission in connection with which the bonds of any issue shall
have been issued under the provisions of this act as to provide a fund
sufficient with other revenues, if any, to pay (a) the cost of maintaining,
repairing and operating such project or public ferry service and (b) the
principal of and the interest on such bonds as the same shall become due
and payable, and to create reserves for such purposes. Such tolls shall
not be subject to supervision or regulation by any other commission, board,
bureau or agency of the State. The tolls and all other revenues derived
from the project or the public ferry service in connection with which the
bonds of any issue shall have been issued, except such part thereof as
may be neceessary 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 indenture
securing the same, shall be set aside at such regular intervals as may
be provided in such resolution or such trust indenture 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 provided. Such pledge shall be valid and binding from the
time when the pledge is made; the tolls or other revenues or other moneys
so pledged and thereafter received by the Commission 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 other-
wise against the Commission, irrespective of whether such parties have
notice thereof. Neither the resolution nor any trust indenture by which
a pledge is created need be filed or recorded except in the records of the
Commission. The use and disposition of moneys to the credit of such
sinking fund shall be subject to the provisions of the resolution author-
izing the issuance of such bonds or of such trust indenture. Except as may
otherwise be provided in such resolution or such trust indenture, such
sinking fund shall be a fund for all such bonds without distinction or
priority of one over another.

§ 10. Transfer to State—Except as hereinafter provided in this
section, when all bonds issued under the provisions of this act in connec-
tion with the project and the interest thereon shall have been paid or a
sufficient amount for the payment of all such bonds and the interest
thereon to the maturity thereof shall have been set aside in trust for the
benefit of the bondholders, the project, if then in good condition and repair,
shall become a part of the state highway system and shall thereafter
be maintained by the State Highway Commission free of tolls. The Com-
mission may, in any resolution or trust indenture authorizing or securing
bonds under the provisions of this act, provide for combining the project
and any public ferry service or services then being operated by the Com-
mission for financing purposes, and for the continuance of tolls on the
project and such public ferry service or services until all such bonds and
the interest thereon shall have been paid or a sufficient amount for such
purposes shall have been set aside in trust for the benefit of the bond-
holders.

§ 11. Trust Funds.—All moneys received pursuant to the authority
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 provided
in this act. The resolution authorizing the bonds of any issue or the
trust indenture securing such bonds shall provide ‘that any officer with
whom, or any bank or trust company with which, such moneys shall be
deposited shall act as trustee of such moneys and shall hold and apply
the same for the purposes hereof, subject to such regulations as this act
and such resolution or trust indenture may provide. .

§ 12. Remedies.—Any holder of bonds issued under the provisions of
this act or any of the coupons appertaining thereto, and the trustee under
any trust indenture, except to the extent the rights herein given may be
restricted by such trust indenture or the resolution authorizing the issuance
of such bonds, may, either at law or in equity, by suit, action, mandamus or
other proceeding, protect and enforce any and all rights under the laws of
the State of Virginia or granted hereunder or under such trust indenture
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
trust indenture or resolution to be performed by the Commission or by any
officer thereof, including the fixing, charging and collecting of tolls.

§ 18. Exemption from Taxation.—The exercise of the powers granted
by this act will be in all respects for the benefit of the people of the State
and for the increase of their commerce and prosperity, and as the operation
and maintenance of the project and any public ferry service then being
operated by the Commission will constitute the performance of essential
governmental functions, the Commission shall not be required to pay any
taxes or assessments upon the project or any public ferry service then being
operated by the Commission or any property acquired or used by the Com-
mission under the provisions of this act or upon 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 from taxation within the State.

§ 14. Bonds Eligible for Investment.—Bonds issued by the District
under the provisions of this act are hereby made securities in which all
public officers and public bodies of the State and its political subdivisions,
all insurance companies, trust companies, banking associations, investment
companies, executors, administrators, trustees and other fiduciaries may
properly and legally invest funds, including capital in their control or
belonging to them. Such bonds are hereby made securities which may
properly and legally be deposited with and received by any State or munici-
pal officer or any agency or political subdivision of the State for any pur-
pose for which the deposit of bonds or obligations is now or may hereafter
be authorized by law.

§ 15. Protection from Competition.—No franchise, right or privilege
shall be granted or authorized by the State of Virginia or by any political
subdivision or court thereof for the acquisition, establishment, construction,
maintenance, repair or operation of any bridge or tunnel or bridge and
tunnel facility or any public ferry service from any point within the bound-
aries of the District to a point in the county of Northampton, except to the
Commission so long as any bonds issued under this act shall remain out-
standing or until provision shall first be made for the payment of the prin-
cipal and the interest and the premium, if any, due and payable upon all
such bonds; provided, however, that such prohibition shall not apply to
any ferry which may hereafter be established for the exclusive transporta-
tion of railroad cars, or of railroad passengers holding through tickets, or
1072 ACTS OF ASSEMBLY [va., 1956

to projects heretofore authorized under the State Revenue Bond Act of
1940, as amended.

§ 16. Miscellaneous.—Any action taken by the Commission under the
provisions of this act may be authorized by resolution at any regular or
special meeting, and each such resolution shall take effect immediately and
need not be published or posted.

The project when constructed and opened to traffic shall be maintained
and kept in good condition and repair by the Commission. The project
shall also be policed and operated by such force of police, toll-takers and
other operating employees as the Commission may in its discretion employ.

All other police officers of the Commonwealth and of each county, city,
town or other political subdivision of the Commonwealth through which any
project, or portion thereof, extends shall have the same powers and juris-
diction within the limits of such projects as they have beyond such limits
and shall have access to the project at any time for the purpose of exer-
cising such powers and jurisdiction.

All private property damaged or destroyed by the construction of the
project or any part thereof shall be restored or repaired and placed in its
original condition as nearly as practicable or adequate compensation made
therefor out of funds provided under the authority of this act.

On or before the last day of February in each year the Commis-
sion shall make an annual report of its activities for the preceding calendar
year to the Governor. Each such report shall set forth a complete operat-
ing and financial statement covering its operations during the year. The
Commission shall cause an audit of its books and accounts to be made at
least once in each year by certified public accountants and the cost thereof
may be treated as a part of the cost of construction or operation of the
project. The records, books and accounts of the Commission shall be sub-
ject to examination and inspection by duly authorized representatives of
the Governor, the State Highway Commission, the governing bodies of the
political subdivisions constituting the District and any bondholder or bond-
holders at any reasonable time, provided the business of the Commission
is not unduly interrupted or interfered with thereby.

Any member, agent or employee of the Commission who contracts
with the Commission or District or is interested, either directly or in-
directly, in any contract with the Commission or District or in the sale of
any property, either real or personal, to the District shall be punished by
a fine of not more than One Thousand Dollars or by imprisonment for not
more than one year, or both.

Any person who uses the project and fails or refuses to pay the toll
provided therefor shall be punished by a fine of not more than One Hun-
dred dollars or by imprisonment for not more than thirty days, or both,
and in addition thereto the Commission shall have a lien upon the vehicle
driven by such person for the amount of such toll and may take and retain
possession thereof until the amount of such toll and all charges in con-
nection therewith shall have been paid.

§ 17. Act Liberally Construed.—This act, being necessary for the
welfare of the State and its inhabitants, shall be liberally construed to
effect the purposes thereof.

§ 18. 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 de-
clared to be the legislative intent that this act would have been adopted had
such unconstitutional provisions not been included therein.
2. Be it further enacted, that all acts and parts of acts, general, special,
private and local, inconsistent with the provisions of this act are hereby
repealed to the extent of such inconsistency.