WEST virginia Legislature
2016 regular session
Introduced
Senate Bill 397
By Senators Walters and Beach
[Introduced January
27, 2016;
Referred to the Committee on Transportation and Infrastructure; and then to the
Committee on Finance.]
A BILL to amend and reenact §17-16A-18 of the Code of West Virginia, 1931, as amended, relating to Parkways Authority and maintaining status quo in the event bond indebtedness relative to Parkways Authority is eliminated; continuing tolls; and maintaining projects with Parkways Authority.
Be it enacted by the Legislature of West Virginia:
That §17-16A-18 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND TOURISM AUTHORITY.
§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 be maintained by the state Division of Highways free of
tolls.
(b) No later than
February 1, 1990, The Parkways Authority
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.
NOTE: The purpose of this bill is to maintain the status quo in the event bond indebtedness is eliminated as the result of being paid off in order to continue collecting revenue for parkways roads and infrastructure projects. Current law would require, in the event bond indebtedness was satisfied, that tolls be eliminated and Parkway Authority roads and infrastructure projects if in good condition be transferred to the Division of Highways..
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.