                                 CODE OF VIRGINIA

SHORT TITLE; DEFINITION (§ 2.2-2260)

A. This article may be cited as Virginia Public Building Authority Act of 1981.

B. As used in this article, unless the context requires a different meaning:
			&#8220;Construction&#8221; or &#8220;to construct&#8221; means acquisition
and construction, all in such manner as may be deemed
desirable.			&#8220;Cost&#8221; means as applied to a project financed under the
provisions of this article, the sum total of all costs reasonable and necessary
for carrying out all works and undertakings necessary or incident to accomplish
a project, including, but not limited to the cost of all necessary
developmental, planning and feasibility studies, surveys, plans and
specifications, architectural, engineering, financial, legal or other special
services, the cost of acquisition of land and any buildings and improvements
thereon, including the discharge of any obligations of the vendor of such land,
buildings or improvements, site preparation and development including demolition
or removal of existing structures, construction, and reconstruction, furnishing
of a project, the reasonable cost of financing incurred in the course of the
development of a project, carrying charges during construction to the occupancy
date, interest on bonds issued to finance a project to a date subsequent to the
estimated date of completion of a project, necessary expenses incurred in
connection with the initial occupancy of a project, the cost of reimbursing the
Central Capital Planning Fund, established under &#xA7; 2.2-1520, for payments
made for pre-planning or detailed planning of all projects that have been
approved for construction by the General Assembly, the funding of such funds and
accounts as the Authority determines to be reasonable and necessary and the cost
of such other items as the Authority determines to be reasonable and
necessary.			&#8220;Fixtures&#8221; and &#8220;furnishings&#8221; means any
fixtures, leasehold improvements, equipment, office furniture and furnishings
whatsoever necessary or desirable for the use and occupancy of such project, and
the terms &#8220;to furnish&#8221; and &#8220;furnishing&#8221; means the
acquisition and installation of such fixtures, equipment and
furnishings.			&#8220;Improvement&#8221; or &#8220;to improve&#8221; means
extension, enlargement, improvement, and renovation, all in such manner as may
be deemed desirable.			&#8220;Major Employment and Investment project&#8221; or
&#8220;MEI project&#8221; means a high-impact regional economic development
project in which a private entity is expected to make a capital investment in
real and tangible personal property exceeding $250 million and create more than
400 new full-time jobs, and is expected to have a substantial direct and
indirect economic impact on surrounding communities.			&#8220;Personal
property&#8221; means all items of equipment, fixtures, and furnishings,
including items affixed to real property.			&#8220;Project&#8221; means any
structure, facility, personal property or undertaking that the Authority is
authorized to finance, refinance, construct, improve, furnish, equip, maintain,
acquire, or operate under the provisions of this article.

HISTORY: 1981, c. 569, §§ 2.1-234.10, 2.1-234.11; 1992, c. 878; 1994, c. 823;
1996, c. 835; 1998, cc. 498, 504; 2000, cc. 67, 279; 2001, c. 844; 2008, Sp.
Sess. I, cc. 1, 2; 2009, cc. 246, 311.