Virginia Code 33.2-2219: Protection from competition
No franchise, right, or privilege shall be granted or authorized by the Commonwealth or by any political subdivision or court thereof for the acquisition, establishment, construction, maintenance, repair, or operation of any bridge or tunnel or bridge and tunnel facility from any point within the boundaries of the District to a point in the County of Northampton, except to the Commission so long as any bonds issued under this chapter remain outstanding or until provision is first made for the payment of the principal and the interest and the premium, if any, due and payable upon all such bonds, provided that such prohibition does not apply to any ferry that may be established for the exclusive transportation of railroad cars, or of railroad passengers holding through tickets, or to projects heretofore authorized under the Transportation Development and Revenue Bond Act (§ 33.2-1700 et seq.).
Terms Used In Virginia Code 33.2-2219
- Bonds: means bonds, notes, bond anticipation notes, or other obligations of the District, notwithstanding any contrary provision in this chapter, which may be issued in certificated or uncertificated form as current interest or capital appreciation bonds, or a hybrid thereof, and may bear interest at a rate, which may be fixed, zero, or at a floating or variable rate of interest established by reference to indices or formulae, that may be in excess of the rate now permitted by law and payable at such times as the Commission may determine. See Virginia Code 33.2-2200
- Commission: means the governing body of the District known as the Chesapeake Bay Bridge and Tunnel Commission. See Virginia Code 33.2-2200
- District: means the political subdivision of the Commonwealth known as the Chesapeake Bay Bridge and Tunnel District. See Virginia Code 33.2-2200
- Maintenance: means (i) ordinary maintenance; (ii) maintenance replacement; (iii) operations that include traffic signal synchronization, incident management, and other intelligent transportation system functions; and (iv) any other categories of maintenance that may be designated by the Commissioner of Highways. See Virginia Code 33.2-100
1956, c. 714; 2014, c. 805.