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Introduced Version House Bill 4187 History

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H. B. 4187

 

         (By Delegates Staggers, Marshall, Perry,

         Pino, Guthrie, Fragale and Gearheart)

 

         [Introduced January 15, 2014; referred to the

         Committee on Roads and Transportation then Finance.]

 

 

A BILL to repeal §17-16A-2 of the Code of West Virginia, 1931, as amended; to amend said code by adding thereto a new section, designated §11B-2-20a; and to amend and reenact §17-16A-1, §17-16A-3, §17-16A-4, §17-16A-5, §17-16A-6, §17-16A-7, §17-16A-8, §17-16A-9, §17-16A-10, §17-16A-11, §17-16A-12, §17-16A-13, §17-16A-13a, §17-16A-15, §17-16A-16, §17-16A-17, §17-16A-18, §17-16A-18a, §17-16A-21, §17-16A-22, §17-16A-23, §17-16A-25, §17-16A-26, §17-16A-27, §17-16A-29 and §17-16A-30 of said code, all relating to dissolution of the West Virginia Parkways, Economic Development and Tourism Authority; transferring its powers to the Secretary of the Department of Transportation; requiring all outstanding bonds of the Parkways Authority to be paid off via a loan from funds managed by the West Virginia Investment Management Board; and requiring that the loan be repaid at the same interest rate as the current bonds.

Be it enacted by the Legislature of West Virginia:

    That §17-16A-2 of the Code of West Virginia, 1931, as amended, be repealed; that said code be amended by adding thereto a new section, designated §11B-2-20a; and that §17-16A-1, §17-16A-3, §17-16A-4, §17-16A-5, §17-16A-6, §17-16A-7, §17-16A-8, §17-16A-9, §17-16A-10, §17-16A-11, §17-16A-12, §17-16A-13, §17-16A-13a, §17-16A-15, §17-16A-16, §17-16A-17, §17-16A-18, §17-16A-18a, §17-16A-21, §17-16A-22, §17-16A-23, §17-16A-25, §17-16A-26, §17-16A-27, §17-16A-29 and §17-16A-30 of said code be amended and reenacted, all to read as follows:

CHAPTER 11B. DEPARTMENT OF REVENUE.

ARTICLE 2. STATE BUDGET OFFICE.

§11B-2-20a. Use of funds managed by the West Virginia Investment Management Board to pay outstanding West Virginia Parkways Authority bonds; repayment.

    (a) Notwithstanding any provision of this code to the contrary, the Governor shall by June 30, 2014 use funds managed by the West Virginia Investment Management Board established by article six, chapter twelve of this code to pay off all outstanding bonds of the West Virginia Parkways Authority. The funds transferred from the West Virginia Investment Management Board shall be repaid to the board’s funds at the same interest rate applicable to those bonds and at the same frequency.

CHAPTER 17. ROADS AND HIGHWAYS.

ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND TOURISM AUTHORITY.

§17-16A-1. Constructing, operating, financing, etc., parkway economic development and tourism projects.

    In order to remove the present handicaps and hazards on the congested highways and roads in the State of West Virginia, to facilitate vehicular traffic throughout the state, to promote and enhance the tourism industry and to develop and improve tourist facilities and attractions in the state, to promote the agricultural, economic and industrial development of the state and to provide for the construction of modern express highways, including center divisions, ample shoulder widths, longsight distances, the bypassing of cities, multiple lanes in each direction and grade separations at all intersections with other highways and railroads, to provide for the development, construction, improvement and enhancement of state parks, tourist facilities and attractions and to provide for the improvement and enhancement of state parks presently existing, the West Virginia Parkways, Economic Development and Tourism Authority (hereinafter created) the West Virginia Secretary of Transportation is hereby authorized and empowered to construct, reconstruct, improve, maintain, repair and operate parkway projects, economic development projects and tourism projects (as those terms are hereinafter defined in section five of this article) at such locations as shall be approved by the state Department of Transportation.

§17-16A-3. West Virginia Parkways Authority. Dissolution and termination of the West Virginia Parkways, Economic Development and Tourism Authority.

    (a) The West Virginia Parkways, Economic Development and Tourism Authority is continued as an agency of the state, and commencing July 1, 2010, it shall be known as the West Virginia Parkways Authority. Any reference to the West Virginia Parkways, Economic Development and Tourism Authority within this code shall mean the West Virginia Parkways Authority.

    (b) To be effective on July 1, 2010, the Governor shall appoint, by and with the advice and consent of the Senate:

    (1) A public member representing the first congressional district for a term of five years; and

    (2) A public member representing the first congressional district for a term of four years.

    (c) The public member representing the third congressional district whose term expires in 2010 may be reappointed for a term of five years. The public member representing the second congressional district whose term expires in 2011 may be reappointed for a term of five years.

    (d) To be effective on July 1, 2014, the Governor shall appoint, by and with the advice and consent of the Senate, a public member representing the second congressional district for a term of five years to replace the public member representing the third congressional district whose term expires in 2014.

    (e) To be effective on July 1, 2015, the Governor shall appoint, by and with the advice and consent of the Senate, an at-large public member for a term of five years to replace one of the public members representing the third congressional district whose terms expire in 2015.

    (f) Commencing July 1, 2015, the Authority shall consist of the following nine members:

    (1) The Governor or a designee;

    (2) The Secretary of the Department of Transportation or a designee;

    (3) Two public members representing the first congressional district;

    (4) Two public members representing the second congressional district;

    (5) Two public members representing the third congressional district; and

    (6) One at-large public member.

    (g) After the initial appointment term, the term for the public members shall be five years. All public members’ appointments shall be made by the Governor, by and with the advice and consent of the Senate.

    (h) A public member may not serve more than two consecutive full five year terms. A public member may continue to serve until a successor has been appointed and has qualified.

    (i) Each public member shall be a resident of this state during the appointment term and shall have been a qualified elector for a period of at least one year next preceding the appointment.

    (j) A vacancy on the Authority shall be filled by appointment by the Governor for the unexpired term of the public member whose office is vacant and the appointment shall be made within sixty days of the vacancy.

    (k) The Governor may remove any public member from the Authority for neglect of duty, incompetency or official misconduct.

    (l) A public member immediately and automatically forfeits membership to the Authority if he or she is convicted of a felony under the laws of any jurisdiction, or becomes a nonresident of this state.

    (m) The Governor or designee shall serve as chair of the Authority. The Authority shall annually elect one of the public members as vice chair, and shall also elect a secretary and treasurer who need not be members of the Authority.

    (n) The Governor shall appoint an Executive Director of the Authority, by and with the advice and consent of the Senate. The Executive Director serves at the will and pleasure of the Governor. The Executive Director is responsible for managing and administering the daily functions of the Authority and performing all other functions necessary to the effective operation of the Authority. The compensation of the Executive Director is annually set by the Governor.

    (o) The public members of the Authority are not entitled to compensation for their services, but shall be reimbursed for all reasonable and necessary expenses actually incurred in the performance of their duties in a manner consistent with guidelines of the Travel Management Office of the Department of Administration.

    (p) Five members of the Authority constitutes a quorum and the vote of a majority of members present shall be necessary for any action taken by the Authority. No vacancy in the membership of the Authority shall impair the right of a quorum to exercise all the rights and perform all the duties of the Authority.

    (q) The Authority shall meet at least monthly. The chair or any five members of the Authority may call a special meeting: Provided, That notice shall be given to all members of the Authority not less than ten days prior to any special meeting.

    (r) Prior to commencing his or her duties as a member of the Authority, each public member shall take and subscribe to the oath required by section five, article IV of the Constitution of this state.

    (s) Before the issuance of any revenue bonds or revenue refunding bonds under the provisions of this article, each public member of the Authority shall execute a surety bond in the penal sum of $25,000. The secretary and treasurer of the Authority shall execute a surety bond in the penal sum of $50,000. Each surety bond shall be conditioned upon the faithful performance of the duties of his or her office, shall be executed by a surety company authorized to transact business in West Virginia as a surety, shall be approved by the Governor and filed in the Office of the Secretary of State.

    (t) All expenses incurred in carrying out the provisions of this article shall be paid solely from funds provided under this article and no liability or obligation shall be incurred by the Authority beyond the extent to which moneys shall have been provided under this article.

    Effective July 1, 2014 the West Virginia Parkways Authority, formerly known as the West Virginia Parkways, Economic Development and Tourism Authority, is abolished and the powers conferred by this article are transferred to the West Virginia Secretary of Transportation.

§17-16A-4. Transfer of powers, duties, functions, assets and liabilities of turnpike commission to parkways authority to Secretary of Transportation.

    (a) The duties, powers and functions of the West Virginia turnpike commission parkways authority are hereby transferred to the parkways authority West Virginia Secretary of Transportation.

    (b) All obligations, indebtedness and other liabilities of, and all rights, assets and other property owned by or used in the administration of, the West Virginia turnpike commission parkways authority as of the first day of June one thousand nine hundred eighty-nine July 1, 2014 and all compensated personnel of said turnpike commission parkways authority as of said date are hereby assumed by and transferred to the parkways authority Transportation Secretary, which is hereby constituted the successor in interest to said commission parkways authority in all respects.

    (c) All books, papers, maps, charts, plans, literature and other records in the possession of the West Virginia turnpike commission as of the first day of June one thousand nine hundred eighty-nine July 1, 2014 shall be delivered or turned over to the parkways authority Transportation Secretary.

    (d) The unexpended balance of appropriations or other funds available for use of the West Virginia turnpike commission parkways authority as of the first day of June one thousand nine hundred eighty-nine July 1, 2014 is hereby transferred to the parkways authority for the use of the parkways authority Transportation Secretary.

§17-16A-5. Definitions.

    As used in this article, the following words and terms shall have the following meanings, unless the context shall indicate another or different meaning or intent:

    (a) “Cost” means the cost of construction, reconstruction, maintenance, improvement, repair and operation of the project, the cost of the acquisition of all land, rights-of-way, property, rights, easements and interests acquired by the Parkways Authority Transportation Secretary for such construction, reconstruction, maintenance, improvement and repair, the cost of all machinery, equipment, material and labor which are deemed essential thereto, the cost of improvements, the cost of financing charges, interest prior to and during construction and for one year after completion of construction, the cost of traffic estimates and of engineering, consultant, accounting, architects', trustees' and legal fees and expenses, plans, specifications, surveys, estimates of cost and of revenues, other costs and expenses necessary or incident to determining the feasibility or practicability of constructing any such project, administrative expenses and such other costs and expenses as may be necessary or incident to the construction of the project, the financing of such construction and the placing of the project in operation or to the operation of the project. Any obligation or expense hereafter incurred by the Department of Transportation Division of Highways with the approval of the Parkways Authority Transportation Secretary, regardless of whether the approval was authorized before or after the obligation or expense was incurred, for traffic surveys, borings, preparation of plans and specifications. and other engineering and consulting services in connection with the construction of a parkway project shall be regarded as a part of the cost of such project and may be reimbursed to the state out of the proceeds of parkway revenue bonds or revenue refunding bonds hereinafter authorized.

    (b) “Department of Transportation” means the West Virginia Department of Transportation and each of its respective divisions and subordinate agencies, including, without limitation, the Division of Highways.

    (c) “Economic development project” means any land or water site, structure, facility or equipment which the Parkways Authority Transportation Secretary may acquire, create, develop, construct, reconstruct, improve or repair under the provisions of this article to promote the agricultural, economic or industrial development of the state, together with all property rights, easements and interests which may be acquired by the Parkways Authority Transportation Secretary for the development, construction or operation of such project.

    (d) “Expressway” means any road serving major intrastate and interstate travel, including federal interstate routes.

    (e) “Feeder roads” means any road serving community to community travel or collects and feeds traffic to an expressway or turnpike.

    (f) “Local service road” means any local arterialized and spur roads which provide land access and socioeconomic benefits to abutting properties.

    (g) “Owner” means all individuals, copartnerships, associations or corporations having any title or interest in any property, rights, easements and interests authorized to be acquired by this article.

    (h) “Park and forest roads” means any road serving travel within state parks, state forests and public hunting and fishing areas.

    (i) “Parkways Authority” or “Authority” means the West Virginia Parkways Authority, or if the Parkways Authority is abolished, the board, body, commission or authority succeeding to the principal functions thereof or to whom the powers given by this article to the Parkways Authority shall be given by law.

    (j) “Parkway project” means any expressway, turnpike, bridge, tunnel, trunkline, feeder road, state local service road or park and forest road, or any portion or portions of any expressway, turnpike, trunkline, feeder road, state local service road or park and forest road, whether contiguous or noncontiguous to the West Virginia Turnpike or to any such portion or portions, which the Parkways Authority Transportation Secretary may acquire, construct, reconstruct, maintain, operate, improve or repair under the provisions of this article, which shall include for all purposes of this article, any acquisition, construction, reconstruction, maintenance, operation, improvement or repair that the authority Transportation Secretary may undertake by agreement with the Department of Transportation, or any expressway, turnpike or other road constructed by the West Virginia Turnpike Commission pursuant to the authority granted to it under the laws of this state prior to June 1, 1989, July 1, 2014 and shall embrace all bridges, tunnels, overpasses, underpasses, interchanges, entrance plazas, approaches, toll houses, service stations and administration, storage and other buildings, which the Parkways Authority Transportation Secretary may deem necessary for the operation of the parkway project, or which is used in the operation of a parkway project constructed prior to June 1, 1989, July 1, 2014 together with all property, rights, easements and interests which may be acquired by the Parkways Authority Transportation Secretary for the construction or the operation of the parkway project or which were acquired in connection with or are used in the operation of a parkway project constructed prior to June 1, 1989 July 1, 2014.

    (k) “Project” or “projects” means a parkway project, economic development project or tourism project, or any combination thereof.

    (l) “Transportation secretary” means the Secretary of the State Department of Transportation.

    (m) “Tourism project” means:

    (1) Any park or tourist facility and attraction which the Parkways Authority Transportation Secretary may create, develop, construct, reconstruct, improve, maintain or repair under the provisions of this article, and shall include all roads, interchanges, entrance plazas, approaches, service stations, administration, storage and any other buildings or service stations, structures which the Parkways Authority Transportation Secretary may deem necessary for the operation of the tourism project, together with all property rights, easements and interests which may be acquired by the Parkways Authority Transportation Secretary for the construction or operation of the tourism project; and

    (2) The construction, reconstruction, improvement, maintenance and repair of any park or tourist facility and attraction owned by the state as of June 1, 1989 July 1, 2014.

    (n) “Tourist facility and attraction” mean cabins, lodges, recreational facilities, restaurants, and other revenue producing facilities, any land or water site, and any information center, visitors' center or rest stop which the Parkways Authority Transportation Secretary determines may improve, enhance or contribute to the development of the tourism industry in the state.

    (o) “Trunkline” means any road serving major city to city travel.

    (p) “Turnpike” means the West Virginia Turnpike or any other toll road in the state.

    (q) “West Virginia Turnpike Commission” means the State Turnpike Commission existing as of June 1, 1989.

    (r) “West Virginia Turnpike” means the turnpike from Charleston to a point approximately one mile south of the intersection of Interstate 77 and U.S. Route 460 near Princeton in Mercer County, West Virginia, which road is presently a part of the federal interstate highway system.

§17-16A-6. Parkways Authority's Transportation Secretary’s powers.

    (a) The Parkways Authority The Transportation Secretary is hereby authorized and empowered:

    (1) To adopt bylaws for the regulation of its affairs and the conduct of its business;

    (2) To adopt an official seal and alter the same at pleasure;

    (3) To maintain an office at such place or places within the state as it may designate;

    (4) To sue and be sued in its own name, plead and be impleaded. Any and all actions against the Parkways Authority shall be brought only in the county in which the principal office of the Parkways Authority is located;

    (5) (1) To construct, reconstruct, improve, maintain, repair and operate parkway projects, at such locations within the state as may be determined by the Parkways Authority Transportation Secretary subject to the provisions of section thirty of this article: Provided, That after July 1, 2010, the Parkways Authority Transportation Secretary is prohibited from constructing new tourism projects or new economic development projects, but this prohibition shall not prevent the Authority Transportation Secretary from entering into lease agreements, development agreements or other agreements with private businesses or companies allowing and providing for such private businesses or companies to acquire, develop, construct and operate motels, lodging facilities or other businesses and business facilities on land owned by the Transportation Secretary and located adjacent to the Tamarack project and facilities at Exit 45 of the West Virginia Turnpike;

    (6) (2) To issue parkway revenue bonds of the State of West Virginia, payable solely from revenues, for the purpose of paying all or any part of the cost of any one or more parkway projects, which costs may include, with respect to the West Virginia Turnpike, such funds as are necessary to repay to the State of West Virginia all or any part of the state funds used to upgrade the West Virginia Turnpike to federal interstate standards. However, beginning July 1, 2014, and once all existing parkway revenue bonds have been repaid, the Transportation Secretary may not issue any more parkway revenue bonds and may not refinance any existing parkway revenue bonds previously issued;

    (7) (3) To issue parkway revenue refunding bonds of the State of West Virginia, payable solely from revenues, for any one or more of the following purposes:

    (A) Refunding any bonds which shall have been issued under the provisions of this article or any predecessor thereof; and

    (B) Repaying to the state all or any part of the state funds used to upgrade the West Virginia Turnpike to federal interstate standards;

    (8) (4) To fix and revise, from time to time, tolls for transit over each parkway project constructed or improved by it, by the Department of Transportation, or by the West Virginia Turnpike Commission, or by the Transportation Secretary, as provided in section thirteen of this article;

    (9) (5) To fix and revise, rents, fees or other charges, of whatever kind or character, for the use of each tourism project or economic development project previously constructed by it the parkways authority or for the use of any building, structure or facility constructed by it in connection with a parkway project. However, beginning July 1, 2014 the Transportation Secretary may not construct, finance or otherwise develop any additional tourism projects or economic development projects;

    (10) (6) To acquire, hold, lease and dispose of real and personal property in the exercise of its powers and the performance of its duties under this article;

    (11) (7) To acquire in the name of the state by purchase or otherwise, on such terms and conditions and in such manner as it may deem proper, or by the exercise of the right of condemnation in the manner hereinafter provided, such public or private lands, including public parks, playgrounds or reservations, or parts thereof or rights therein, rights-of-way, property, rights, easements and interests, as it may deem necessary for carrying out the provisions of this article. No compensation shall be paid for public lands, playgrounds, parks, parkways or reservations so taken, and all public property damaged in carrying out the powers granted by this article shall be restored or repaired and placed in its original condition as nearly as practicable;

    (12) (8) To designate the locations, and establish, limit and control such points of ingress to and egress from each project as may be necessary or desirable in the judgment of the Parkways Authority Transportation Secretary to ensure the proper operation and maintenance of such project, and to prohibit entrance to such project from any point or points not so designated;

    (13) (9) To make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this article, and to employ consulting engineers, attorneys, accountants, architects, construction and financial experts, trustees, superintendents, managers and such other employees and agents as may be necessary in its judgment, and to fix their compensation. All such expenses shall be payable solely from the proceeds of parkway revenue bonds or parkway revenue refunding bonds issued under the provisions of this article, tolls or from revenues;

    (14) (10) To make and enter into all contracts, agreements or other arrangements with any agency, department, division, board, bureau, commission, authority or other governmental unit of the state to operate, maintain, or repair any project;

    (15) (11) To receive and accept from any federal agency grants for or in aid of the construction of any parkway project, and to receive and accept aid or contributions from any source of either money, property, labor or other things of value, to be held, used and applied only for the purposes for which such grants and contributions may be made;

    (16) (12) To investigate and, if feasible, develop and implement a “single fee” program which would produce on an annual basis a sum of money equal to the total toll revenue received from all West Virginia drivers on West Virginia toll roads during the Authority’s preceding fiscal year, divided into at least three classes based upon usage, size and number of axles. Said sum, plus an amount necessary to cover the expected costs of such program, shall be produced by adding to either the annual cost of vehicle registration or of vehicle inspection a single fee equal to the proportionate share of that vehicle owner of the total toll revenue needed to be produced from all vehicles within that class. A vehicle for which such fee has been paid shall be entitled to traverse all toll roads within the state without stopping to pay individual tolls during the effective period of said registration or said inspection: Provided, however, That if the single fee proposed to be charged under said program exceeds the standard round trip toll for that vehicle over the entire length of the West Virginia Turnpike, the Authority Transportation Secretary shall not implement such program without the prior approval of both Houses of the Legislature: Provided further, That any such program shall also include comparable provisions which would allow vehicles registered in other states to traverse West Virginia toll roads in like fashion to West Virginia vehicles as set forth in this section upon the payment of a single fee for each and every vehicle registered in such state, in accordance with the same classification system adopted for West Virginia vehicles.

    (17) (13) To do all acts and things necessary or convenient to carry out the powers expressly granted in this article; and

    (18) (14) To file the necessary petition or petitions pursuant to Title 11, United States Code, Sec. 401 (being section 81 of the Act of Congress entitled “An act to establish a uniform system of bankruptcy throughout the United States”, approved July 1, 1898, as amended) and to prosecute to completion all proceedings permitted by Title 11, United States Code, Secs. 401-403 (being sections 81 to 83, inclusive, of said Act of Congress). The State of West Virginia hereby consents to the application of said Title 11, United States Code, Secs. 401-403, to the Parkways Authority Transportation Secretary.

    (b) Nothing in this article shall be construed to prohibit the issuance of parkway revenue refunding bonds in a common plan of financing with the issuance of parkway revenue bonds.

§17-16A-7. Parkways authority's Transportation Secretary’s                 incidental powers.

    The parkways authority Transportation Secretary shall have has authority to construct grade separations at intersections of any project with public roads and state highways and to change and adjust the lines and grades of such roads and highways so as to accommodate the same to the design of such grade separation. The cost of such grade separations and any damage incurred in changing and adjusting the lines and grades of such roads and highways shall be ascertained and paid by the parkways authority Transportation Secretary as a part of the cost of such project.

    If the parkways authority Transportation Secretary shall find it necessary to change the location of any portion of any public road or state highway, it shall cause the same to be reconstructed at such location as the parkways authority Transportation Secretary shall deem most favorable and of substantially the same type and in as good condition as the original road or highway. The cost of such reconstruction and any damage incurred in changing the location of any such road or highway shall be ascertained and paid by the parkways authority Transportation Secretary as a part of the cost of such project.

    Upon the request of the parkways authority Transportation Secretary, the commissioner of the State department Division of Highways shall relocate or discontinue any road or highway over which he or she has authority and control which is affected by the construction of any project.

    In addition to the foregoing powers, the parkways authority Transportation Secretary and its his or her authorized agents and employees may enter upon any lands, waters and premises in the state for the purpose of making surveys, soundings, drillings and examinations as it he or she may deem consider necessary or convenient for the purposes of this article, and such entry shall may not be deemed a trespass, nor shall an entry for such purposes be deemed an entry under any condemnation proceedings which may be then pending. The parkways authority Transportation Secretary shall make reimbursement for any actual damages resulting to such lands, waters and premises as a result of such activities.

    The State of West Virginia hereby consents to the use of all lands owned by it, including lands lying under water, which are deemed considered by the parkways authority Transportation Secretary to be necessary for the construction or operation of any project.

§17-16A-8. Acquisition of land, property, easements, etc.

    The parkways authority Transportation Secretary is hereby authorized and empowered to acquire by purchase, whenever it he or she shall deem consider such purchase expedient, any land, property, rights, rights-of-way, franchises, easements and other interests in lands as it he or she may deem consider necessary or convenient for the construction or operation of any parkway project upon such terms and at such price as may be considered by it he or she to be reasonable and can be agreed upon between the parkways authority Transportation Secretary and the owner thereof, and to take title thereto in the name of the state.

§17-16A-9. Condemnation of property.

    Whenever a reasonable price cannot be agreed upon, or whenever the owner is legally incapacitated, or is absent, unknown or unable to convey valid title, the parkways authority Transportation Secretary is hereby authorized and empowered to acquire, by the exercise of the power of condemnation in accordance with and subject to the provisions of any and all existing laws and statutes applicable to the exercise of the power of condemnation of property for public use, any land, property, rights, rights-of-way, franchises, easements or other property deemed necessary or convenient for the construction or the efficient operation of any parkway project or necessary in the restoration of public or private property damaged or destroyed. In any condemnation proceedings the court having jurisdiction of the suit, action or proceeding may make such orders as may be just to the parkways authority Transportation Secretary and to the owners of the property to be condemned and may require an undertaking or other security to secure such owners against any loss or damage by reason of the failure of the parkways authority Transportation Secretary to accept and pay for the property, but neither such undertaking or security nor any act or obligation of the parkways authority Transportation Secretary shall impose any liability upon the state or the parkways authority Transportation Secretary except such as may be paid from the funds provided under the authority of this article.

§17-16A-10. Parkway revenue bonds generally.

    (a) The Parkways Authority is authorized to provide by resolution for the issuance of parkway revenue bonds of the state for the purpose of paying all or any part of the cost of one or more parkway projects: Provided, That this section shall not be construed as authorizing the issuance of parkway revenue bonds for the purpose of paying the cost of the West Virginia Turnpike, which parkway revenue bonds may be issued only as authorized under section eleven of this article. The principal of and the interest on bonds shall be payable solely from the funds provided for payment. Beginning July 1, 2014, and once all existing parkway revenue bonds have been repaid, the Transportation Secretary may not issue any more parkway revenue bonds as mentioned in this section. Beginning July 1, 2014, the Transportation Secretary may not refinance any existing parkway revenue bonds previously issued.

    (b) The bonds of each issue shall be dated, shall bear interest at a rate as may be determined by the Parkways Authority Transportation Secretary in its sole discretion, shall mature at a time not exceeding forty years from their date or of issue as may be determined by the Parkways Authority Transportation Secretary, and may be made redeemable before maturity, at the option of the Parkways Authority Transportation Secretary at a price and under the terms and conditions as may be fixed by the Parkways Authority Transportation Secretary prior to the issuance of the bonds.

    (c) The Parkways Authority Transportation Secretary shall determine the form of the bonds, including any interest coupons to be attached thereto, and shall fix the denomination of the bonds and the place of payment of principal and interest, which may be at any bank or trust company within or without the state.

    (d) The bonds shall be executed by manual or facsimile signature by the chair of the Parkways Authority Transportation Secretary, and the official seal of the Parkways Authority Transportation Secretary shall be affixed to or printed on each bond, and attested, manually or by facsimile signature, by the secretary and treasurer of the Parkways Authority Transportation Secretary. Any coupons attached to any bond shall bear the manual or facsimile signature of the chair of the Parkways Authority Transportation Secretary.

    (e) In case any officer whose signature or a facsimile of whose signature appears on any bonds or coupons shall cease to be an officer before the delivery of the bonds, the signature or facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until delivery. In case the seal of the Parkways Authority Transportation Secretary has been changed after a facsimile has been imprinted on the bonds, then the facsimile seal will continue to be sufficient for all purposes.

    (f) All bonds issued under the provisions of this article shall have all the qualities and incidents of negotiable instruments under the negotiable instruments law of the state. The bonds may be issued in coupon or in registered form, or both, as the Parkways Authority Transportation Secretary may determine, and provision may be made for the registration of any coupon bonds as to principal alone and also as to both principal and interest, and for the recorders into coupon bonds of any bonds registered as to both principal and interest.

    (g) The Parkways Authority Transportation Secretary may sell the bonds at a public or private sale at a price it determines to be in the best interests of the state.

    (h) The proceeds of the bonds of each issue shall be used solely for the payment of the cost of the parkway project or parkway projects for which the bonds were issued, and shall be disbursed in a manner consistent with the resolution authorizing the issuance of the bonds or in the trust agreement securing the bonds.

    (i) If the proceeds of the bonds of any issue, by error of estimates or otherwise, shall be less than the cost, then additional bonds may in like manner be issued to provide the amount of the deficit. Unless otherwise provided in the resolution authorizing the issuance of the bonds or in the trust agreement securing the bonds, the additional bonds shall be deemed to be of the same issue and shall be entitled to payment from the same fund without preference or priority of the bonds first issued.

    (j) If the proceeds of the bonds of any issue exceed the cost of the parkway project or parkway projects for which the bonds were issued, then the surplus shall be deposited to the credit of the sinking fund for the bonds.

    (k) Prior to the preparation of definitive bonds, the Parkways Authority Transportation Secretary may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when the bonds have been executed and are available for delivery. The Parkways Authority Transportation Secretary may also provide for the replacement of any bonds that become mutilated or are destroyed or lost.

    (l) Bonds may be issued under the provisions of this article without obtaining the consent of any department, division, commission, board, bureau or agency of the state in accordance with this article: Provided, That the Parkways Authority Transportation Secretary shall comply with the provisions of section twenty-eight, article one, chapter five of this code.

§17-16A-11. Parkway revenue bonds –- West Virginia Turnpike; related projects.

    (a) The Parkways Authority Transportation Secretary is authorized to provide by resolution, at one time or from time to time, for the issuance of parkway revenue bonds of the state in an aggregate outstanding principal amount not to exceed, from time to time, $200 million for the purpose of paying:

    (1) All or any part of the cost of the West Virginia Turnpike, which may include, but not be limited to, an amount equal to the state funds used to upgrade the West Virginia Turnpike to federal interstate standards;

    (2) All or any part of the cost of any one or more parkway projects that involve improvements to or enhancements of the West Virginia Turnpike, including, without limitation, lane-widening on the West Virginia Turnpike and that are or have been recommended by the Parkways Authority's Transportation Secretary’s traffic engineers or consulting engineers or by both of them prior to the issuance of parkway revenue bonds for the project or projects; and

    (3) To the extent permitted by federal law, all or any part of the cost of any related parkway project.

    (b) For purposes of this section only, a “related parkway project” means any information center, visitors' center or rest stop, or any combination thereof, and any expressway, turnpike, trunkline, feeder road, state local service road or park and forest road which connects to or intersects with the West Virginia Turnpike and is located within seventy-five miles of the turnpike as it existed on June 1, 1989, or any subsequent expressway, trunkline, feeder road, state local service road or park and forest road constructed pursuant to this article: Provided, That nothing in this section shall be construed as prohibiting the Parkways Authority Transportation Secretary from issuing parkway revenue bonds pursuant to section ten of this article for the purpose of paying all or any part of the cost of any related parkway project: Provided, however, That none of the proceeds of the issuance of parkway revenue bonds under this section shall be used to pay all or any part of the cost of any economic development project, except as provided in section twenty-three of this article: Provided further, That nothing in this section shall be construed as prohibiting the Parkways Authority Transportation Secretary from issuing additional parkway revenue bonds to the extent permitted by applicable federal law for the purpose of constructing, maintaining and operating any highway constructed, in whole or in part, with money obtained from the Appalachian Regional Commission as long as the highway connects to the West Virginia Turnpike as it existed on June 1, 1989: And provided further, That, for purposes of this section, in determining the amount of bonds outstanding, from time to time, within the meaning of this section: Original par amount or original stated principal amount at the time of issuance of bonds shall be used to determine the principal amount of bonds outstanding, except that the amount of parkway revenue bonds outstanding under this section may not include any bonds that have been retired through payment, defeased through the deposit of funds irrevocably set aside for payment or otherwise refunded so that they are no longer secured by toll revenues of the West Virginia Turnpike: And provided further, That the authorization to issue bonds under this section is in addition to the authorization and power to issue bonds under any other section of this code: And provided further, That, without limitation of the authorized purposes for which parkway revenue bonds are otherwise permitted to be issued under this section, and without increasing the maximum principal par amount of parkway revenue bonds permitted to be outstanding, from time to time, under this section, the Authority Transportation Secretary is specifically authorized by this section to issue, at one time or from time to time, by resolution or resolutions under this section, parkway revenue bonds under this section for the purpose of paying all or any part of the cost of one or more parkway projects that:

    (1) Consist of enhancements or improvements to the West Virginia Turnpike, including, without limitation, projects involving lane widening, resurfacing, surface replacement, bridge replacement, bridge improvements and enhancements, other bridge work, drainage system improvements and enhancements, drainage system replacements, safety improvements and enhancements, and traffic flow improvements and enhancements; and

    (2) Have been recommended by the Authority's Transportation Secretary’s consulting engineers or traffic engineers, or both, prior to the issuance of the bonds.

    (c) Except as otherwise specifically provided in this section, the issuance of parkway revenue bonds pursuant to this section, the maturities and other details of the bonds, the rights of the holders of the bonds, and the rights, duties and obligations of the Parkways Authority Transportation Secretary in respect of the bonds shall be governed by the provisions of this article insofar as the provisions are applicable.

    (d) Notwithstanding any other provision of this code to the contrary, the Authority may not issue parkway revenue bonds under this section for projects on the West Virginia Turnpike after June 30, 2010: Provided, That the authority may issue revenue refunding bonds pursuant to sections twenty-one and twenty-two of this article. Beginning July 1, 2014, and once all existing parkway revenue bonds have been repaid, the Transportation Secretary may not issue any more parkway revenue bonds: Provided, That beginning July 1, 2014, the Transportation Secretary may not refinance any existing parkway revenue bonds previously issued.

§17-16A-12. Parkway revenue bonds -- Trust agreement.

    In the discretion of the parkways authority Transportation Secretary any bonds issued under the provisions of this article may be secured by a trust agreement by and between the parkways authority Transportation Secretary and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. Any such trust agreement may pledge or assign the tolls, rents, fees, charges and other revenues to be received, but shall not convey or mortgage any project or any part thereof. Any such trust agreement or any resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the parkways authority Transportation Secretary in relation to the acquisition of property and the construction, reconstruction, improvement, maintenance, repair, operation and insurance of the project or projects in connection with which such bonds shall have been authorized, and the custody, safeguarding and application of all moneys, and provisions for the employment of consulting engineers in connection with the construction or operation of such project or projects. It shall be lawful for any bank or trust company incorporated under the laws of the state which may act as depository of the proceeds of bonds or of revenues to furnish such indemnifying bonds, or to pledge such securities as may be required by the parkways authority Transportation Secretary. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders as is customary in trust agreements or trust indentures securing bonds and debentures of corporations. In addition to the foregoing, any such trust agreement may contain such other provisions as the parkways authority Transportation Secretary may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of any such trust agreement may be treated as a part of the cost of the operation of the project or projects to which the trust agreement applies.

§17-16A-13. Tolls, rents, fees, charges and revenues; competitive bidding on contracts.

    (a) (1) The parkways authority Transportation Secretary is hereby authorized to fix, revise, charge and collect tolls for the use of each parkway project and the different parts or sections thereof and to fix, revise, charge and collect rents, fees, charges and other revenues, of whatever kind or character, for the use of each economic development project or tourism project, or any part or section thereof, and to contract with any person, partnership, association or corporation desiring the use of any part thereof, including the right-of-way adjoining the paved portion, for placing thereon telephone, telegraph, electric light, power or other utility lines, gas stations, garages, stores, hotels, restaurants and advertising signs, or for any other purpose except for tracks for railroad or railway use, and to fix the terms, conditions, rents and rates of charges for such use. Such tolls, rents, fees and charges shall be so fixed and adjusted in respect of the aggregate of tolls, or in respect of the aggregate rents, fees and charges, from the project or projects in connection with which the bonds of any issue shall have been issued as to provide a fund sufficient with other revenues, if any, to pay: (A) The cost of maintaining, repairing and operating such project or projects; and (B) the principal of and the interest on such bonds as the same shall become due and payable and to create reserves for such purposes. Such tolls, rents, fees and other charges shall not be subject to supervision or regulation by any other commission, board, bureau, department or agency of the state. The tolls, rents, fees, charges and all other revenues derived from the project or projects in connection with which the bonds of any issue shall have been issued, except such part thereof as may be necessary to pay the cost of maintenance, repair and operation and to provide such reserves therefor as may be provided in the resolution authorizing the issuance of such bonds or in the trust agreement securing the same, shall be set aside at regular intervals as may be provided in the resolution or the trust agreement in a sinking fund which is hereby pledged to, and charged with, the payment of: (i) The interest upon the bonds as such interest shall fall due; (ii) the principal of the bonds as the same shall fall due; (iii) the necessary charges of paying agents for paying principal and interest; and (iv) the redemption price or the purchase price of bonds retired by call or purchase as therein provided. The use and disposition of moneys to the credit of such sinking fund shall be subject to the provisions of the resolution authorizing the issuance of the bonds or of the trust agreement. Except as may otherwise be provided in the resolution or the trust agreement, such sinking fund shall be a fund for all bonds without distinction or priority of one over another. The moneys in the sinking fund, less such reserve as may be provided in the resolution or trust agreement, if not used within a reasonable time for the purchase of bonds for cancellation as above provided, shall be applied to the redemption of bonds at the redemption price then applicable.

    (2)(A) In fiscal year 1998, after the parkways authority Transportation Secretary has met or provided for the satisfaction of each requirement imposed by the provisions of subdivision (1) of this subsection, the parkways authority Transportation Secretary shall pay $250,000 to the Hatfield-McCoy regional recreation authority from any remaining balance of revenues received from economic development projects and tourism projects.

    (B) Upon the effective date of this act, the parkways authority Transportation Secretary shall seek authorization from the federal highway administration, the State Department of Transportation and the trustee under any trust indenture or agreement existing as the result of the issuance of any revenue bonds under the provisions of this article to issue additional revenue bonds in a total amount not to exceed $6 million for the purpose of funding projects of the Hatfield-McCoy regional recreation authority. Upon the agreement of all of such entities that the parkways authority Transportation Secretary be authorized to do so, as certified to the parkways authority Transportation Secretary, the Governor and the Joint Committee on Government and Finance, the parkways authority Transportation Secretary is authorized to issue additional revenue bonds in a total amount not to exceed $6 million. The proceeds of the revenue bonds shall be used to fund projects of the Hatfield-McCoy regional recreation authority. Each issuance of such revenue bonds and the application of the proceeds thereof shall be subject to each condition, restriction or other provision of this article applicable to the issuance of parkway revenue bonds. In the event the agreement is not certified as required by this subsection, and until the same is certified, the parkways authority Transportation Secretary shall pay $250,000 to the Hatfield-McCoy regional recreation authority in the fiscal year ending June 30, 2000, and in each fiscal year thereafter, for a total of nine consecutive years, for the purpose of funding projects of the Hatfield-McCoy regional recreation authority. These amounts shall be paid in quarterly installments from remaining balances in each fiscal year of revenues received from economic development projects and tourism projects as determined in the manner provided in paragraph (A) of this subdivision.

    (b) The parkways authority Transportation Secretary shall cause, as soon as it is legally able to do so, all contracts to which it is a party and which relate to the operation, maintenance or use of any restaurant, motel or other lodging facility, truck and automobile service facility, food vending facility or any other service facility located along the West Virginia Turnpike, to be renewed on a competitive bid basis. All contracts relating to any facility or services entered into by the parkways authority Transportation Secretary with a private party with respect to any project constructed after the effective date of this legislation shall be let on a competitive bid basis only. If the parkways authority Transportation Secretary receives a proposal for the development of a project, such proposal shall be made available to the public in a convenient location in the county wherein the proposed facility may be located. The parkways authority Transportation Secretary shall publish a notice of the proposal by a Class I legal advertisement in accordance with the provisions of article three, chapter fifty-nine of this code. The publication area shall be the county in which the proposed facility would be located. Any citizen may communicate by writing to the parkways authority Transportation Secretary his or her opposition to or approval to such proposal within a period of time not less than forty-five days from the publication of the notice. No contract for the development of a project may be entered into by the parkways authority Transportation Secretary until a public hearing is held in the vicinity of the location of the proposed project with at least twenty days' notice of such hearing by a Class I publication pursuant to section two of said article. The parkways authority Transportation Secretary shall make written findings of fact prior to rendering a decision on any proposed project. All studies, records, documents and other materials which are considered by the parkways authority Transportation Secretary in making such findings shall be made available for public inspection at the time of the publication of the notice of public hearing and at a convenient location in the county where the proposed project may be located. The parkways authority Transportation Secretary shall promulgate rules in accordance with chapter twenty-nine-a of this code for the conduct of any hearing required by this section. Persons attending any such hearing shall be afforded a reasonable opportunity to speak and be heard on the proposed project.

§17-16A-13a. Public notice and hearing requirements.

    (a) Notwithstanding any provision of the law to the contrary, on and after July 1, 2010, the Parkways Authority Transportation Secretary is authorized after prior public notice and hearing, as set forth in this section, to:

    (1) Fix initial rates, tolls or charges along any portion of a parkway project, or approve any proposal or contract that would require the Transportation Secretary to fix any initial rates, tolls or charges along any portion of a parkway project;

    (2) Increase any rates, tolls or charges along any portion of the parkway project, or approve any proposal or contract that would result in or require an increase in any rates or tolls along any portion of the parkway project;

    (3) Issue any refunding bond pursuant to sections twenty-one and twenty-two of this article which would require the Parkways Authority Transportation Secretary to increase rates, tolls or charges;

    (4) Approve any contract or project which would require or result in an increase in the rates, tolls or charges along any portion of the parkway project; or

    (5) Take any other action which would require or result in an increase in the rates, tolls or charges along any portion of the parkway project.

    (b) The Parkways Authority Transportation Secretary shall publish notice of any proposed contract, project or bond which would require the Parkways Authority Transportation Secretary to fix any initial toll rates or charges, result in an increase of any toll rates or charges or extend any bond repayment obligation, along with the associated initial rate, rate increase or revised bond repayment period, by a Class II legal advertisement in accordance with the provisions of article three, chapter fifty-nine of this code, published and of general circulation in each county which borders the parkway project or proposed parkway project affected by the proposed contract, project or bond.

    (c) Once notice has been provided in accordance with the provisions of this section, the Parkways Authority Transportation Secretary shall conduct a public hearing in each county which borders the parkway project or proposed parkway project affected by the proposed contract, project or bond, and any citizen may communicate by writing to the Parkways Authority Transportation Secretary his or her opposition to or approval of such proposal, initial rate or toll, rate or toll increase or amended bond terms. The public notice and written public comment period shall be conducted not less than forty-five days from the publication of the notice and the affected public must be provided with at least twenty days' notice of each scheduled public hearing.

    (d) All studies, records, documents and other materials which were considered by the Parkways Authority Transportation Secretary before recommending the approval of any such project or recommending the adoption of any such initial rate or increase shall be made available for public inspection for a period of at least twenty days prior to the scheduled hearing at a convenient location in each county where a public hearing is held.

    (e) At the conclusion of all required public hearings, the Parkways Authority Transportation Secretary shall render a final decision which shall include written findings of fact supporting its final decision on any proposed project which would result in or require initial rates, a rate increase, or prior to finally approving any proposed initial rate or toll or rate or toll increase, and such required findings and conclusions must reference and give due consideration to the public comments and additional evidence offered during the public hearings.

    (f) On and after July 1, 2010, any final action taken by the Parkways Authority Transportation Secretary to approve or implement any proposed initial rate, rate increase, contract or project which would require or result in a proposed initial rate or toll or a proposed increase of any rate or tolls along any portion of the parkway project without first satisfying the public notice and hearing requirements of this section, shall be null and void.

§17-16A-15. Remedies.

    Any holder of bonds issued under the provisions of this article or any of the coupons appertaining thereto, and the trustee under any trust agreement, except to the extent the rights herein given may be restricted by such trust agreement, may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights under the laws of the state or granted hereunder or under such trust agreement or the resolution authorizing the issuance of such bonds, and may enforce and compel the performance of all duties required by this article or by such trust agreement or resolution to be performed by the parkways authority Transportation Secretary or by any officer thereof, including the fixing, charging and collecting of tolls, rents, fees and charges.

§17-16A-16. Exemption from taxation.

    (a) The exercise of the powers granted by this article will be in all respects for the benefit of the people of the state, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of projects by the parkways authority Transportation Secretary will constitute the performance of essential governmental functions, the parkways authority Transportation Secretary shall not be required to pay any taxes or assessments upon any project or any property acquired or used by the parkways authority Transportation Secretary under the provisions of this article or upon the income therefrom, and the bonds issued under the provisions of this article, their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the state.

    (b) In lieu of payment by the parkways authority Transportation Secretary of county property taxes and other assessments on restaurant and gas service facilities owned by it, or upon any facility described in subsection (b), of section thirteen herein of this article which is leased to any private person, corporation, or entity, the parkways authority Transportation Secretary shall make an annual payment as provided herein to the county commission of such county. Any parkways authority Transportation Secretary project which is leased and is exempt from taxation shall be subject to a payment in lieu of taxes. Said payment shall be made to the county commission of the county in which the project is located and shall be in an amount equal to the property taxes otherwise payable. The county commission receiving such in lieu of payment shall distribute such payment to the different levying bodies in that county in the same manner as are property taxes. Nothing contained herein may be construed to prohibit the parkways authority Transportation Secretary from collecting such in lieu payment from any private party by contract or otherwise.

§17-16A-17. Repair, etc., of damaged property; conveyances, etc., by counties, cities, etc., to parkways authority Transportation Secretary; maintenance and policing of projects; defrauding transportation secretary; evading payment of tolls, rents, fees or charges; trespassing.

    All private property damaged or destroyed in carrying out the powers granted by this article shall be restored or repaired and placed in its original condition as nearly as practicable or adequate compensation made therefor out of funds provided under the authority of this article.

    All counties, cities, villages, townships and other political subdivisions and all public agencies and commissions of the State of West Virginia, notwithstanding any contrary provision of law, are hereby authorized and empowered to lease, lend, grant or convey to the parkways authority Transportation Secretary at its request upon such terms and conditions as the proper authorities of such counties, cities, villages, townships, other political subdivisions or public agencies and commissions of the state may deem reasonable and fair and without the necessity for any advertisement, order of court or other action or formality, other than the regular and formal action of the authorities concerned, any real property which may be necessary or convenient to the effectuation of the authorized purposes of the parkways authority Transportation Secretary, including public roads and other real property already devoted to public use.

    Each project when constructed and opened to traffic or use shall be maintained and kept in good condition and repair by the parkways authority Transportation Secretary. The parkways authority Transportation Secretary and the Superintendent of the Department of Public Safety State Police may by agreement provide that such project or projects shall be policed by members of such department under such terms and conditions as they may determine, excepting that all costs thereof, either direct or indirect, including overhead costs attributable thereto, shall be paid unto such department by the parkways authority Transportation Secretary at regular intervals not to exceed one year. Whoever shall knowingly or intentionally defraud or attempt to defraud the parkways authority Transportation Secretary, any of its tolltakers or other employees in regard to the payment of tolls, rents, fees or charges established by the parkways authority Transportation Secretary for the use of any such project or evade or attempt to evade or whoever shall aid another to evade or attempt to evade the payment of such toll, rent, fee or charge or whoever shall intentionally and knowingly trespass upon any project shall be guilty of a misdemeanor; and for every such offense shall upon conviction thereof be fined not in excess of $50. Magistrate courts shall have jurisdiction of misdemeanors created by this paragraph concurrently with circuit courts.

§17-16A-18. Cessation of tolls.

    (a) Except as provided herein, when all bonds issued under the provisions of this article in connection with any parkway project or projects and the interest thereon shall have been paid or a sufficient amount for the payment of all such bonds and the interest thereon to the maturity thereof shall have been set aside in trust for the benefit of the bondholders, such project or projects, if then in good condition and repair to the satisfaction of the Commissioner of the state Division of Highways, shall be transferred to the state Division of Highways and shall thereafter maintained by the state Division of Highways free of tolls.

    (b) No later than February 1, 1990, the parkways authority Transportation Secretary shall discontinue, remove and not relocate all toll collection facilities on the West Virginia Turnpike as the same existed on June 1, 1989, except for the three main toll barriers and collection facilities and, provided solely that the provisions of section eighteen-a are complied with, the toll collection facilities at the intersection of U.S. Route 19 (Corridor "L") and said turnpike.

§17-16A-18a. Corridor "L" toll fees authorized; commuter pass;                  annual report.

    (a) The parkways authority Transportation Secretary is hereby authorized to operate the currently existing toll collection facility located at the interchange of U.S. Route 19 (Corridor "L") and said turnpike subject to the following:

    (1) The toll fee charges by the Parkways, Economic Development and Tourism Authority Transportation Secretary at its toll facilities located at the interchange of U.S. Route 19 (Corridor "L") and said turnpike shall not exceed those toll charges levied and collected by the authority Transportation Secretary at said interchange as of January 1, 1990, and hereafter, no proposed increase in such toll fees shall be implemented by the parkways authority Transportation Secretary unless the authority Transportation Secretary shall have first complied with validly promulgated and legislatively approved rules pursuant to the applicable provisions of chapter twenty-nine-a of this code;

    (2) The parkways authority Transportation Secretary shall maintain, advertise, implement and otherwise make generally available to all qualified members of the public, resident or nonresident, a system of commuter passes, in a form to be determined by the authority Transportation Secretary: Provided, That said system of commuter passes shall, at a minimum, permit the holder of such pass or passes, after paying the applicable fee to the authority Transportation Secretary, to travel through the U.S. Route 19 (Corridor "L") turnpike interchange and toll facilities on an unlimited basis, without additional charge therefor, for a period of one year after the issuance of said commuter pass or passes: Provided, however, That the cost for such commuter pass or passes shall in no event aggregate more than $5 per year for a full calendar year of unlimited travel through the U.S. Route 19 (Corridor "L") turnpike interchange toll facilities. Applications for these commuter passes are to be made available by the Parkway Authority Transportation Secretary to every Division of Motor Vehicles office in the state.

    To the extent required or necessary, the parkways authority Transportation Secretary is further hereby authorized and empowered, in addition to the extent previously authorized and empowered pursuant to section six and section thirteen-b, article sixteen-a of this chapter, to promulgate rules in accordance with chapter twenty-nine-a of this code with regard to the implementation of proposed future toll increases at the U.S. Route 19 (Corridor "L") turnpike toll facility;

    (3) The system of commuter passes implemented in accordance with the provisions of subdivision (2), subsection (a), above, of this section shall be available only for use when operating or traveling in a Class "A" motor vehicle as herein defined. Whoever shall knowingly or intentionally utilize any commuter pass issued in accordance with this section while operating other than a Class "A" motor vehicle, as herein defined, at the U.S. Route 19 (Corridor "L") turnpike toll facility, or any other toll facility at or upon which such pass may later be usable, shall be guilty of a misdemeanor and, for every such offense shall, upon conviction thereof, be punished in accordance with the provisions of section seventeen, article sixteen-a of this chapter; and the parkways authority Transportation Secretary shall hereafter be authorized and empowered to cancel any such commuter pass or passes improperly used in accordance with this section;

    (4) In addition to the annual report required by section twenty-six of this article, the parkways authority Transportation Secretary will prepare and deliver to the Governor, the Speaker of the House of Delegates and the President of the Senate a separate annual report of toll revenues collected from the U.S. Route 19 (Corridor "L") turnpike toll facility. The report shall disclose separately the toll revenues generated from regular traffic and the commuter pass created herein. The reports shall include, but not be limited to, disclosing separately the expenditure of said toll revenues generated from the U.S. Route 19 (Corridor "L") turnpike toll facility including a description of the purposes for which such toll revenues are expended;

    (5) In the event any court of competent jurisdiction shall issue an order which adjudges that any portion of subdivision (1), (2) or (3) subsection (a) of this section is illegal, unconstitutional, unenforceable or in any manner invalid, the parkways authority Transportation Secretary shall discontinue, remove and not otherwise relocate the U.S. Route 19 (Corridor "L") turnpike toll facility within three hundred sixty-five days after the date upon which said court order is final or all appeals to said order have been exhausted;

    (6) For the purpose of this section, a Class "A" vehicle shall be defined as a motor vehicle of passenger type and truck with a gross weight of not more than 8,000 pounds and registered or eligible for registration as a Class "A" vehicle in accordance with section one, article ten, chapter seventeen-a of this code as the same is currently constituted; and

    (7) Notwithstanding any other provisions of the this code to the contrary, the parkways authority Transportation Secretary may not promulgate emergency rules in accordance with section fifteen, article three, chapter twenty-nine-a of this code to increase or decrease toll fees or the commuter pass fee established herein.

    (b) Nothing in this section is to be construed to apply to, regulate, or in any manner affect the operation of the three main line toll barriers and toll collection facilities currently located on the West Virginia Turnpike and operated by the parkways authority Transportation Secretary as Barrier A, Barrier B and Barrier C (I-64, I-77).

§17-16A-21. Parkway revenue refunding bonds–Generally.

    The parkways authority Transportation Secretary is hereby authorized to provide by resolution for the issuance of parkway revenue refunding bonds of the state for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this article, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds; and, if deemed advisable by the parkways authority Transportation Secretary, for the additional purpose of constructing improvements, extensions or enlargements of the project or projects in connection with which the bonds to be refunded shall have been issued: Provided, That this section shall not be construed as authorizing the issuance of parkway revenue refunding bonds for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this article, or any predecessor thereof, in connection with the construction of the West Virginia Turnpike, which revenue refunding bonds may be issued only as authorized under section twenty-two of this article. The issuance of such bonds, the maturities and other details thereof, the rights of the holders thereof and the rights, duties and obligations of the parkways authority Transportation Secretary in respect of the same shall be governed by the provisions of this article insofar as the same may be applicable. After the effective date of the amendments to this article enacted by the Legislature during the regular session in 2006, no issuance of a refunding bond may extend the maturity date of such bond being refunded and may not exceed the outstanding principal of such bond being refunded. Any refunding bond issued after the effective date of the amendments to this article enacted by the Legislature during the regular session in 2006 shall be structured to provide for approximately level annual debt service savings each fiscal year through the final maturity or structured to approximate the level of debt service that would have been paid prior to the refunding, with a preponderance of the savings being deferred toward eliminating or reducing the most distant maturities. For purposes of this section, the outstanding principal is to be determined as of the date on which the revenue bond is refinanced.

    Beginning July 1, 2014, once all existing parkway revenue bonds have been repaid, the Transportation Secretary may not issue any more parkway revenue bonds. Beginning July 1, 2014, the Transportation Secretary may not refinance any existing parkway revenue bonds previously issued.

§17-16A-22. Parkway revenue refunding bonds--West Virginia                  Turnpike.

    The parkways authority Transportation Secretary is hereby authorized to provide by resolution for the issuance of parkway revenue refunding bonds of the state in an aggregate principal amount not to exceed $60,000,000 for the purpose of refunding any bonds which shall have been issued under this article, or any predecessor thereof, in connection with the construction of the West Virginia Turnpike, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and, to the extent permissible under federal law and if deemed advisable by the parkways authority Transportation Secretary, for repaying to the state all or any part of the state funds used to upgrade the West Virginia Turnpike to federal interstate standards: Provided, That any proceeds derived from the issuance of such bonds which are used on any parkway project other than the West Virginia Turnpike must be used solely on parkway projects: (i) Which are either connected to or intersect with the West Virginia Turnpike and are within seventy-five air miles of said turnpike as it exists on June 1, 1989, or any subsequent expressway, trunkline, turnpike, feeder road, state local service road or park and forest road constructed pursuant to this article; and (ii) which involve the upgrading or addition of interchanges, the construction of expressways or feeder roads, or the upgrading or construction of information centers, visitors' centers, rest stops or any combination thereof: Provided, however, That none of the proceeds of the issuance of parkway revenue refunding bonds issued under this section shall be used to pay all or any part of the cost of any economic development project. Except as otherwise specifically provided in this section, the issuance of parkway revenue refunding bonds pursuant to this section, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the parkways authority Transportation Secretary in respect of the same, shall be governed by the provisions of this article insofar as the same may be applicable.

    After the effective date of the amendments to this article enacted by the Legislature during the regular session in 2006, no issuance of a refunding bond may extend the maturity date of such bond being refunded and may not exceed the outstanding principal of such bond being refunded. Any refunding bond issued after the effective date of the amendments to this article enacted by the Legislature during the 2006 regular session shall be structured to provide for approximately level annual debt service savings each fiscal year through the final maturity or structured to approximate the level of debt service that would have been paid prior to the refunding, with a preponderance of the savings being deferred toward eliminating or reducing the most distant maturities. For purposes of this section, the outstanding principal is to be determined as of the date on which the revenue bond is refinanced.

    Beginning July 1, 2014, and once all existing parkway revenue bonds have been repaid, the Transportation Secretary may not issue any more parkway revenue bonds. Beginning July 1, 2014, the Transportation Secretary may not refinance any existing parkway revenue bonds previously issued.

§17-16A-23. Special highway fund; appropriations from fund.

    (a) There is hereby created a special fund in the State Treasury which shall be designated and known as the "West Virginia Special Highway Fund." The special highway fund shall consist of: (i) All funds allocated and disbursed to the State Department Division of Highways by the parkways authority Transportation Secretary, including without limitation the proceeds of any parkway revenue bonds or revenue refunding bonds issued by the parkways authority Transportation Secretary pursuant to sections eleven, twenty-one or twenty-two of this article, in repayment of the amount of state funds used to upgrade the West Virginia Turnpike to federal interstate standards; (ii) any appropriations, grants, gifts, contributions or other revenues received by the special highway fund from any source, and (iii) all interest earned on moneys held in the fund. When any funds are received by the State Department Division of Highways from the parkways authority Transportation Secretary pursuant to this section, they shall be paid into the State Treasury by the Commissioner of the Department Division of Highways and credited to the special highway fund, and shall be disbursed in the manner set forth in subsections (b) and (c) of this section. The special highway fund shall not be treated by the Auditor and Treasurer as part of the state road fund or as part of the general revenues of the state.

    (b) The Governor shall have the authority to transfer to the insurance fund created in section eight, article fifteen, chapter thirty-one of this code, on any date or dates after the enactment of this section, up to $35 million of the funds received or earned by the special highway fund, which funds may be used and applied by the West Virginia Economic Development Authority in the manner and to the extent set forth in article fifteen of said that chapter. thirty-one. On or before December 31, 1994, the Economic Development Authority shall retransfer to the special highway fund the $35 million advanced to the insurance fund pursuant to this section. All interest earned on the $35 million while being held in the insurance fund shall remain in, and be the property of, said insurance fund: Provided, That on and after July 1, 1992, the Governor shall have the authority to transfer $6 million from the insurance fund created in section eight, article fifteen, chapter thirty-one of this code to a special fund hereby created in the State Treasury and designated "the West Virginia Economic Development Fund." Expenditures from the fund are to be made only in accordance with appropriations by the Legislature.

    (c) Upon the transfer of $35 million to the insurance fund as provided in subsection (b) of this section, the Legislature shall annually appropriate all or any part of the balance of the funds deposited in the special highway fund for the construction, reconstruction, improvement, maintenance or repair of any parkway project or projects: Provided, That all of such funds shall be appropriated to: (i) The upgrading or addition of interchanges; (ii) the construction of expressways or feeder roads; or (iii) the upgrading or construction of information centers, visitors' centers, rest stops, or any combination thereof, and that all such feeder roads, expressways, interchanges, information centers, visitors' centers or rest stops shall connect to the West Virginia Turnpike and within seventy-five fifteen air miles of the West Virginia Turnpike as it existed on the effective date of this legislation, or any subsequent expressway, turnpike or feeder road constructed pursuant to this subsection. The appropriation of funds pursuant to this subsection shall be expended on more than one project.

§17-16A-25. Additional powers of Transportation Secretary; issuance of special obligation bonds.

    (a) In addition to all powers granted by the foregoing sections of this article, the parkways authority Transportation Secretary in connection with a proceeding prosecuted to completion under Title 11, United States Code, Secs. 401-403, as permitted by subdivision (17), section six of this article is hereby authorized to provide by resolution for the issuance of special obligation bonds of the state for the purpose of exchanging such special obligation bonds for all bonds then outstanding which shall have been issued under the provisions of this article. Special obligation bonds issued under the provisions of this section shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision, but such bonds shall be payable solely from the funds herein provided therefor from pledged property and income therefrom as provided in subdivision (1) of this subsection. All such special obligation bonds shall contain on the face thereof a statement in accordance with the preceding sentence. The issuance of such bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the parkways authority Transportation Secretary in respect of the same shall be governed by the provisions of this article insofar as the same may be applicable with the following express exceptions:

    (1) The principal of and the interest on such special obligation bonds shall not be payable from tolls, rents, fees, charges or revenues of any parkway project but shall be payable solely from such other property purchased and pledged as security therefor as the parkways authority Transportation Secretary shall determine together with the income derived therefrom which other property may include direct obligations of, or obligations the principal of and the interest on which are guaranteed by, the United States Government or participation certificates or other obligations issued by or by authority of the United States Government; and

    (2) Following the issuance of such special obligation bonds there shall be no obligation to fix, revise, charge and collect tolls for the use of any parkway project and any parkway project shall be transferred to the State Department Division of Highways and shall thereafter be maintained by the State Department Division of Highways free of tolls. At such time as the special obligation bonds are issued, then section eighteen of this article shall be of no further force and effect.

    (b) Financial, legal, engineering and feasibility consultants may be employed to perform such services as the parkways authority Transportation Secretary shall deem necessary or desirable in connection with the Title 11 proceedings mentioned above and the issuance and exchange of the special obligation bonds.

    (c) The entire powers herein granted by this section to the parkways authority Transportation Secretary may be exercised by the State Department Division of Highways in which event the special obligation bonds herein authorized shall be executed by manual or facsimile signature by the Governor and by the Commissioner of the Department Division of Highways, and the official seal of the Department Division of Highways shall be affixed to or printed on each bond, and any coupons attached to such bonds shall bear the manual or facsimile signature of the Commissioner of the State Department Division of Highways. In the event that the State Department Division of Highways shall elect to exercise the powers granted by this section, it shall file a statement to that effect in the office of the chairman of the parkways authority Transportation Secretary and in the office of the Secretary of State, and upon the issuance of the special obligation bonds herein provided for, the State Department Division of Highways shall succeed immediately to the principal functions of the parkways authority and the parkways authority shall then be abolished Transportation Secretary.

    (d) Beginning July 1, 2014, and once all existing special obligation bonds have been repaid, the Transportation Secretary may not issue any more special obligation bonds as mentioned in this section. Beginning July 1, 2014, the Transportation Secretary may not refinance any existing special obligation bonds previously issued.

    (d) (e) The State Department Division of Highways is hereby empowered to acquire by purchase the parkways authority and all its rights-of-way, equipment, facilities and any and all other rights or interest the parkways authority has or had in any project, from any funds available to it and to pay any expenses incident to such acquisition under the provisions of this article: Provided, That the contribution of the State Department Division of Highways in making such acquisition shall not exceed the sum of $20 million from all sources of public moneys of the State of West Virginia, excluding any funds reimbursed or reimbursable or otherwise provided or to be provided by the federal government. No funds derived from the sale of the $350 million bond issue authorized by the roads development amendment shall be included in the acquisition of the West Virginia Turnpike.

§17-16A-26. Annual report; audit.

    (a) Annually, the Parkways Authority Transportation Secretary shall prepare and provide to each member of the West Virginia Legislature who so requests, an annual report detailing the financial condition and operations of the Parkways Authority Transportation Secretary.. The Parkways Authority Transportation Secretary shall provide to the Joint Committee on Government and Finance any financial statements that are required under any trust agreement to which the Parkways Authority Transportation Secretary is a party.

    (b) Annually, the Parkways Authority Transportation Secretary shall file with the Legislative Auditor’s office a full and complete accounting of its activities, including the collection of all revenues, expenditures, liabilities, assets, bonds and disbursement of funds. The Legislative Auditor shall conduct an annual audit of the information provided by the Transportation Secretary and the audit report of the Legislative Auditor shall be provided to each member of the Legislature requesting a copy.

§17-16A-27. Exit awareness signs.

    Consistent with applicable federal laws, rules and regulations, the parkways authority Transportation Secretary shall develop and prepare a uniform roadway sign identifying the availability of restaurants, gas stations, hotel accommodations and emergency services available off each exit of the West Virginia Turnpike. At every tourism project maintained or operated by the parkways authority Transportation Secretary and which is constructed after the effective date of this legislation, and, to the extent permitted under the terms of the applicable lease, at every currently existing service station, gas station, hotel or restaurant, garage or store maintained, operated or leased by the parkways authority Transportation Secretary, the parkways authority Transportation Secretary shall at no charge or cost permit the placement of, in a conspicuous place, all reasonably sized advertising literature prepared and delivered by hotels, restaurants and other tourist attractions, whether public or private, located within the State of West Virginia.

§17-16A-29. Discount program for purchasers of West Virginia EZ Pass transponders.

    (a) The Parkways Authority Transportation Secretary is hereby authorized to create a discount program for purchasers of West Virginia EZ Pass transponders: Provided, That prior to the fixation of any initial rates, tolls or charges or any increase in any rates, tolls or charges along any portion of the parkway project, the Parkways Authority Transportation Secretary shall create a discount program for purchasers of West Virginia EZ Pass transponders. Any discount program created pursuant to this section shall provide discounts for each class of motor vehicles.

    (b) The Authority Transportation Secretary shall provide public notice and hold public hearings on any proposed discount program as required in section thirteen-a of this article prior to implementation of such program.

    (c) Annually, the Parkways Authority Transportation Secretary shall hold at least one public informational session in each of the following counties: Kanawha, Fayette, Raleigh and Mercer counties. The Authority Transportation Secretary is to distribute educational materials and other information concerning the discount program for purchasers of West Virginia EZ Pass transponders described in this section.

    (d) Upon the effective date of the amendments to this section enacted during the regular session of the Legislature in the year 2010, the Authority Transportation Secretary shall make available West Virginia EZ Pass transponders to the public without the payment of any monetary security deposit. The Authority Transportation Secretary shall credit any individual that has paid a security deposit for a West Virginia EZ Pass transponder prior to July 1, 2010, on the individual’s next billing statement.

    (e) For purposes of this section, a “West Virginia EZ Pass transponder” means a device sold by the Parkways Authority Transportation Secretary which allows the purchaser to attach the device to his or her motor vehicle and travel through a Parkways toll facility and be billed for such travel by the Authority Transportation Secretary.

§17-16A-30. Coordination with county commission in counties where a parkway project may be located.

    Once a parkway project is identified by the Authority Transportation Secretary, the Governor shall appoint, with the advice and consent of the Senate, two persons from each county where the parkway project is located to serve on a local committee to provide recommendations and suggestions to the Authority Transportation Secretary on all matters regarding the local identified project. The local committee shall also report any of its findings to the county commission or county commissions of the counties in which the parkway project is located. Prior to any final approval of a parkway project, the county commissions of the counties in which a parkway project is located shall by resolution approve the parkway project.



    NOTE: The purpose of this bill is to dissolve the West Virginia Parkways, Economic Development and Tourism Authority and transfer its powers to the Secretary of the Department of Transportation. The bill requires all outstanding bonds of the Parkways Authority to be paid off via a loan from the funds managed by the West Virginia Investment Management Board. The bill requires that the loan be repaid to the West Virginia Investment Management Board at the same interest rate and intervals as the current bonds.


    §17-16A-2 is repealed.


    11B-2-20a is new; therefore, it has been completely underscored.

 

    Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.

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