The Board, at or before the time any such project is acquired by purchase or by condemnation, shall determine what repairs, replacements, additions, or betterments will be necessary to place the project in safe and efficient condition for the use of the public and shall cause an estimate of the cost of such improvement to be made. The Board shall authorize such improvements before the sale of any revenue bonds for the acquisition of such project, and the cost of such improvements shall be paid for out of the proceeds of such bonds.
Code 1950, § 33-233; 1970, c. 322, § 33.1-273; 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