The Board may acquire by purchase, whenever it deems such purchase expedient, any of the projects set forth in the definition of "project" in § 33.2-1700, upon such terms and at such prices as may be reasonable and can be agreed upon between the Board and the owner thereof, title thereto to be taken in the name of the Commonwealth. The Board shall issue revenue bonds of the Commonwealth as provided in this chapter to pay the cost of such acquisition.
Code 1950, § 33-231; 1970, c. 322, § 33.1-271; 2014, c. 805.
Structure Code of Virginia
Title 33.2 - Highways and Other Surface Transportation Systems
Chapter 17 - Transportation Development and Revenue Bond Act
§ 33.2-1701. General powers of Commonwealth Transportation Board
§ 33.2-1702. Acquisition and construction of projects
§ 33.2-1703. Purchase of projects
§ 33.2-1704. Condemnation of projects and property
§ 33.2-1705. Improvement of projects acquired
§ 33.2-1706. Construction of projects
§ 33.2-1707. Highway connections
§ 33.2-1709. Credit of Commonwealth not pledged
§ 33.2-1710. Form and terms of bonds
§ 33.2-1711. No other prerequisites to issue of bonds
§ 33.2-1712. Limitations and approvals for certain revenue bonds
§ 33.2-1713. Sale of bonds; bonds as legal investments
§ 33.2-1714. Use of proceeds of sale of bonds
§ 33.2-1715. Financing two or more projects together
§ 33.2-1716. All moneys to be trust funds
§ 33.2-1719. Reserve funds and appropriations
§ 33.2-1721. Cessation of tolls
§ 33.2-1722. Use of certain funds by Board
§ 33.2-1724. Remedies of bondholders and trustee
§ 33.2-1725. Competing bridges, ferries, and tunnels
§ 33.2-1726. Incidental powers of the Board
§ 33.2-1727. Revenue refunding bonds and revenue bonds for combined purposes