CHAPTER 285

Act to amend Chapter 180 of the Acts of Assembly of 1942, approved
March 9, 1942, known as the “Elizabeth River Tunnel Revenue Bond
Act’, as amended by Chapter 4 of the Acts of Assembly of 1950,
approved February 9, 1950, by Chapter 490 of the Acts of Assembly
of 1952, approved April 2, 1952, and Chapter 604 of Acts of Assembly
of 1952, approved April 8, 1952, by adding thereto three new sections
numbered 20 to 22, inclusive, to authorize the Elizabeth River Tunnel
Commission (a) to construct, maintain, repair and operate an addi-
tional vehicular connection, which may include bus facilities for the
transportation of passengers, from a point in the city of Norfolk,
Virginia, to a point in or near the city of Portsmouth, Virginia, con-
sisting of a tunnel or tunnels under, or a bridge or bridges‘ over, the
Elizabeth River, and to construct extensions and improvements of the
existing project, (b) to issue revenue bonds of the Elizabeth River
Tunnel District for the combined purpose of (i) refunding the out-
standing revenue bonds of the District, including any redemption
premium thereon, which were issued for paying the cost of the exist-
ing project, (11) paying the cost of such additional vehicular con-
nection and the cost of such extensions and improvements, and (iti)
making any payments to the county of Norfolk and the cities of
Norfolk and Portsmouth to extinguish in whole or in part the obliga-
tions of the District under its present contracts with said county and
with said cities, (c) to fix and collect tolls and other charges for the
use of the additional vehicular connection and of the existing project,
(d) to combine such additional vehicular connection and the existing
project for financing purposes, (e) to enter into new agreements with
the cities of Norfolk and Portsmouth and the county of Norfolk to
satisfy the obligations of the District under existing agreements, and
(f) to enter into a new agreement with the city of Norfolk with
reference to tolls for the use of the bridge over the east branch of
the Elizabeth River.

{H 454]

Approved March 9, 1956

Be it enacted by the General Assembly of Virginia:

That Chapter 130 of the Acts of Assembly of 1942, approved March
1942, known as the “Elizabeth River Tunnel Revenue Bond Act’, as
ended by Chapter 4 of the Acts of Assembly of 1950, approved Febru-
9, 1950, by Chapter 490 of the Acts of Assembly of 1952, approved
CH. 285] ACTS OF ASSEMBLY 339

April 2, 1952, and Chapter 604 of Acts of Assembly of 1952, approved
April 3, 1952, be and the same is hereby amended by adding thereto three
new sections numbered 20 to 22, inclusive, reading as follows: .

§ 20. In addition to the powers granted to the Elizabeth River Tun-
nel Commission under the foregoing provisions of this Act, the Commis-
sion is hereby authorized and empowered: ae .

(a) to establish, construct, operate and maintain an additional vehicu-
lar connection from a point in the city of Norfolk, Virginia, to a point in
or near the city of Portsmouth, Virginia; to determine in its sole discre-
tion whether such connection shall embrace a tunnel or tunnels or a bridge
or bridges under or over the Elizabeth River and any tributaries thereof
and approaches and approach roads (including elevated or depressed high-
ways) thereto; to determine the location, character, size and capacity of
the connection ; to secure all necessary federal authorizations and permits
for the construction and maintenance of the same; to acquire as a part
of such vehicular connection additional bus facilities for the transporta-
tion of passengers through such tunnel or tunnels or over such bridge or
bridges and combine the same with the existing bus facilities; to maintain
and operate both such facilities between such points within the District
as the Commission shall deem necessary to provide service for passengers
between said cities of Norfolk and Portsmouth; and to construct exten-
sions and improvements of the existing project;

b) to issue revenue bonds of the Elizabeth River Tunnel District for
the combined purpose of (i) refunding the outstanding revenue bonds of
the District, including any redemption premium thereon, which were
issued for paying the cost of the existing project, (ii) paying the cost of
such additional vehicular connection, including the cost of any bus facili-
ties acquired by the Commission, and the cost of any extensions and
improvements of the existing project, and (iii) MARing. any payments to
the county of Norfolk and the cities of Norfolk and Portsmouth which
may be agreed upon by the Commission and said county and said cities
to extinguish in whole or in part the obligations of the District under the
existing contracts with said county and said cities;

(c) to fix and collect tolls and other charges for the use of such
additional vehicular connection and the existing project;

(d) to combine such additional vehicular connection and the existing
project for financing purposes; and in the event of such combination the
word “project” as used in this Act shall include the existing project and
such additional vehicular connection;

‘(e) to enter into new contracts or agreements on behalf of the Dis-
trict with the county of Norfolk and the cities of Norfolk and Portsmouth
to provide for making payments to said county and said cities in full
satisfaction of the obligations of the District under the existing agree-
ments between the District and said county and said cities, such payments
to be made either from the proceeds of revenue bonds issued under the
provisions of this section or from revenues of the project (over and above
the amounts required for maintaining, repairing and operating the project
and for paying such revenue bonds and the interest thereon and creating
reserves for such purposes) or from both such proceeds and such revenues,
and to charge and collect tolls for the use of the project to provide funds
for making any such payments from revenues; and

(f) to enter into a new contract or agreement on behalf of the Dis-
trict with the city of Norfolk whereby, in lieu of the fixing and gic |
of tolls by the Commission for the use of the bridge over the east branc
of the Elizabeth River between Norfolk and Berkeley, the city of Norfolk
will make ae to the District of the sums fixed by such contract.

The Commission is further authorized and empowered to borrow
money at one time or from time to time to provide funds for paying the
cost of traffic surveys and estimates, engineering and legal expenses, and
340 ACTS OF ASSEMBLY [va., 1956

other expenses necessary or incident to determining the feasibility or
practicability of the financing authorized by this section, and issue its
notes for the moneys so borrowed. Such notes may be renewed or extended
from time to time. All such notes shall be executed in the manner herein
provided for the execution of bonds. Upon the issuance of bonds under
the provisions of this section a sufficient amount of the proceeds thereof
shall be applied to the payment of such notes and the interest accrued
thereon to the date of such payment. In the event that any such notes shall
not be paid from bond proceeds, the Commission shall continue to charge
and collect tolls for the use of the existing project to provide funds for
paying such notes and the interest thereon. ; ;

As used in this section the words “tunnel”, “bridge” and “cost of the
project” shall have the meanings set forth in § 8 of this Act in so far as
the same may be applicable.

§ 21. The issuance of revenue bonds under the provisions of § 20
of this act, the maturities and other details thereof, the rights of the
holders thereof, the rights and duties and obligations of the Commission
with respect to the same, the execution of a trust indenture to secure such
bonds, the construction of such additional vehicular connection and the
fixing and collecting of tolls and other charges for the use of such addi-
tional vehicular connection and the existing project shall be governed by
the foregoing provisions of this Act in so far as the same may be applic-
able. But nothing in this Act shall be construed as permitting the Com-
mission to subordinate or to defer any of its existing obligations to the
county of Norfolk or the city of Portsmouth or the city of Norfolk with-
out the consent of such county or such city.

§ 22. Notwithstanding any of the foregoing provisions of this Act
or of 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 this State.

2. An emergency exists and this Act is in force from its passage.