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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>370558</law_id><section_number>56-537</section_number><catch_line>Construction of highways and use of public funds in the public interest</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="121" identifier="56">Public Service Companies</unit><unit label="chapter" level="2" order_by="39" identifier="20">Virginia Highway Corporation Act of 1988</unit></structure><text>
						<section><p>The General Assembly finds that there is a compelling public need for rapid construction of safe and efficient <span class="dictionary">highways</span> for the purpose of travel within the Commonwealth and that it is in the public interest to encourage construction of additional, safe, convenient, and economic <span class="dictionary">highway</span> facilities by private parties, provided that adequate safeguards are provided against <span class="dictionary">default</span> in the construction and <span class="dictionary">operation</span> obligations of the <span class="dictionary">operators</span> of <span class="dictionary">roadways</span>. The public interest shall include without limitation the relative speed of the construction of the project and the relative cost efficiency of private construction of the project. The General Assembly further finds that the use of public funds for the purposes set out in this section is in the public interest and that this chapter is necessary for the public convenience, safety, and welfare.</p></section></text><history>1988, c. 649; 1993, c. 732; 2022, c. 234.</history><metadata></metadata></law>
