COMMITTEE SUBSTITUTE
FOR
COMMITTEE SUBSTITUTE
FOR
Senate Bill No. 427
(By Senators Tomblin (Mr. President) and Caruth,
By Request of the Executive)
____________
[Originating in the Committee on Finance;
reported March 1, 2010.]
____________
A BILL to amend and reenact §17-16A-3, §17-16A-5, §17-16A-6,
§17-16A-10, §17-16A-11, §17-16A-13a, §17-16A-19, §17-16A-26
and §17-16A-29 of the Code of West Virginia, 1931, as amended,
all relating to the West Virginia Parkways, Economic
Development and Tourism Authority; renaming the West Virginia
Parkways, Economic Development and Tourism Authority;
reorganizing the membership of the authority; redefining
terms; authorizing issuance of revenue bonds for parkway
projects; prohibiting the authority from constructing new
tourism projects or new economic development projects;
clarifying certain powers of the authority relating to parkway
projects, tourism projects and economic development projects; clarifying certain powers of the Department of Transportation
with respect to parkway projects; clarifying the power of the
authority to reimburse the Department of Transportation for
costs associated with parkway projects; clarifying certain
powers of the authority with respect to real and personal
property; clarifying the powers of the authority to fix and
revise tolls for transit over certain parkway projects;
requiring notice and public hearings prior to fixing initial
rates or tolls on parkway projects; requiring county
commission approval where a parkway project is located;
requiring an annual legislative audit of the Parkways
Authority; requiring the Parkways Authority to provide certain
information; and requiring a discount program for purchasers
of EZ Pass transponders prior to fixing initial rates or tolls
on parkway projects.
Be it enacted by the Legislature of West Virginia:
That §17-16A-3, §17-16A-5, §17-16A-6, §17-16A-10, §17-16A-11,
§17-16A-13a, §17-16A-19, §17-16A-26 and §17-16A-29 of the Code of
West Virginia, 1931, as amended, be amended and reenacted, all to
read as follows:
ARTICLE 16A. WEST VIRGINIA PARKWAYS AUTHORITY.
§17-16A-3. West Virginia Parkways 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 twenty-five thousand dollars. The secretary and treasurer of the
Authority shall execute a surety bond in the penal sum of fifty
thousand dollars. 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.
§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:
(o) The word (a) "Cost"
as applied to any project, including
without limitation the West Virginia Turnpike in sections eleven and
twenty-two of this article, embraces 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 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
commissioner of the
department of highways Department of Transportation with the
approval of the Parkways Authority,
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
shall 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.
(d) The words (c) "Economic development project"
mean means any
land or water site, structure, facility or equipment which the
Parkways Authority may
at any time determine to 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 for the development, construction or operation
of such project.
(j) The word (d) "Expressway" means any road serving major
intrastate and interstate travel, including federal interstate
routes.
(l) The words (e) "Feeder roads"
mean means any road serving
community to community travel or collects and feeds traffic to an
expressway or turnpike.
(m) The words (f) "Local service road"
mean means any local
arterialized and spur roads which provide land access and
socioeconomic benefits to abutting properties.
(p) The word (g) "Owner"
includes means all individuals, co-
partnerships, associations or corporations having any title or
interest in any property, rights, easements and interests authorized
to be acquired by this article.
(n) The words (h) "Park and forest roads"
mean means any road
serving travel within state parks, state forests and public hunting
and fishing areas.
(a) The words (i) "Parkways Authority"
or "Authority" mean
means the West Virginia Parkways
Economic Development and Tourism
Authority,
created by section three of this article or if
said the Parkways Authority
shall be 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.
(b) The words (j) "Parkway project"
mean 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 may
at any time determine
to 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 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, 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 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, together with all
property, rights, easements and interests which may be acquired by
the Parkways Authority 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.
(e) The words (k) "Project" or "projects"
mean means a parkway
project, economic development project or tourism project, or any
combination thereof.
(f) The words (l) "Transportation secretary"
mean means the
Secretary of the State Department of Transportation.
(c) The words (m) "Tourism project"
mean means:
(i) (1) Any park or tourist facility and attraction which the
Parkways Authority may
at any time determine to create, develop,
construct, reconstruct, improve, maintain or repair under the
provisions of this article, and shall
embrace include all roads,
interchanges, entrance plazas, approaches, service stations,
administration, storage and any other buildings or service stations,
structures which the Parkways Authority 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 for the construction or operation of the tourism project;
and
(ii) (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.
(h) The words (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 determines may improve, enhance or contribute to the
development of the tourism industry in the state.
(k) The word (o) "Trunkline" means any road serving major city
to city travel.
(i) The word (p) "Turnpike" means the West Virginia Turnpike
or any other toll road in the state.
(g) The words (q) "West Virginia Turnpike Commission"
mean
means the State Turnpike Commission existing as of June 1, 1989.
(q) The words (r) "West Virginia Turnpike"
mean 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 powers.
(a) The Parkways Authority 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
shall be is located;
(5) To construct, reconstruct, improve, maintain, repair and
operate projects, at such locations within the state as may be
determined by the Parkways Authority:
Provided, That the Parkways
Authority shall be prohibited from constructing motels or any other
type of lodging facility within five miles of the West Virginia
Turnpike Provided, That after July 1, 2010, the Parkways Authority
is prohibited from constructing new tourism projects or new economic
development projects, but this prohibition shall not prevent the
Authority 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
Authority and located adjacent to the Tamarack project and
facilities at Exit 45 of the West Virginia Turnpike;
(6) 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;
Provided, That upon the
effective date of the amendments to this section enacted during the
regular session of the Legislature in two thousand six, the
authorization to issue bonds pursuant to this subsection is limited
to that of refunding bonds pursuant to subdivision seven of this
subsection
(7) 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:
(i) (A) Refunding any bonds which shall have been issued under
the provisions of this article or any predecessor thereof; and
(ii) (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) 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;
(9) To fix and revise,
from time to time, rents, fees or other
charges, of whatever kind or character, for the use of each tourism
project or economic development project constructed by it or for the use of any building, structure or facility constructed by it in
connection with a parkway project;
(10) 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;
Provided, That the authority may not
finance any transaction to acquire, hold or lease real property
(11) 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.
Provided, That the authority may not finance any
transaction to acquire real property 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) 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 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) 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) 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) To receive and accept from any federal agency grants for
or in aid of the construction of any 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) To do all acts and things necessary or convenient to carry
out the powers expressly granted in this article; and
(17) 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.
(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.
Provided,
That upon the effective date of the amendments to this section
enacted during the regular session of the Legislature in two
thousand six, the authorization to issue bonds pursuant to this
subsection is limited to that of refunding bonds pursuant to
sections twenty-one and twenty-two 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.
(b) The bonds of each issue shall be dated, shall bear interest
at a rate as may be determined by the Parkways Authority 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, and may be made redeemable before maturity, at the option
of the Parkways Authority at a price and under the terms and
conditions as may be fixed by the Parkways Authority prior to the
issuance of the bonds.
(c) The Parkways Authority 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, and the official
seal of the Parkways Authority 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. Any coupons
attached to any bond shall bear the manual or facsimile signature
of the chair of the Parkways Authority.
(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 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 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 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 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 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 shall comply
with the provisions of section twenty-eight, article one, chapter
five of this code.
(m) Notwithstanding any other provision of this code to the contrary, the authority may not issue parkway revenue bonds after
the effective date of the amendments to this section enacted in the
regular session of the Legislature in two thousand six: Provided,
That the authority may issue revenue refunding bonds pursuant to
sections twenty-one and twenty-two of this article for parkway
revenue bonds previously issued prior to the effective date of the
amendments to this section enacted in the regular session of the
Legislature in two thousand six.
§17-16A-11. Parkway revenue bonds -- West Virginia Turnpike;
related projects.
(a) The Parkways Authority 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:
(i) (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;
(ii) (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 traffic engineers or consulting engineers or by both of them prior to the issuance of parkway revenue bonds
for the project or projects; and
(iii) (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
exists 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 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
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
as of 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
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:
(i) (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
(ii) (2) Have been recommended by the Authority'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 in respect of the bonds shall be governed by the
provisions of this article insofar as the provisions are applicable.
(b) (d) Notwithstanding any other provision of this code to the
contrary, the Authority may not issue parkway revenue bonds
after
the effective date of the amendments to this section enacted in the
regular session of the Legislature in 2006 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.
for parkway revenue bonds previously issued prior to the effective date
of the amendments to this section enacted during the regular session
of the Legislature in two thousand six
§17-16A-13a. Public notice and hearing requirements.
(a) Notwithstanding any provision of the law to the contrary,
on and after July 1,
2006, unless 2010, the Parkways Authority
satisfies the is authorized after prior public notice and hearing,
requirements as set forth in this section,
it may not 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 Parkways Authority to fix any initial rates, tolls or
charges along any portion of a parkway project: Provided, That West
Virginia residents who reside in a county adjacent to a parkway
project shall pay $1.00 per toll barrier: Provided, however, That
prior to fixing any initial rates, tolls or charges along any
portion of a parkway project, the Parkways Authority shall obtain
the approval of the county commission(s) where such parkway project
is located;
(1) (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;
(2) (3) Issue any refunding bond pursuant to sections
twenty-one and twenty-two of this article which would require the Parkways Authority to increase rates, tolls or charges;
(3) (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
(4) (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 shall publish notice of any proposed
contract, project or bond which would
result in or require
an
increase in the Parkways Authority to fix any initial toll rates or
charges, result in an increase of any toll rates or charges or
the
extension of 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 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 his or her opposition to or approval of such proposal,
or 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 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
shall be is held.
(e) At the conclusion of all required public hearings, the
Parkways Authority 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,
2006 2010, any final action taken by
the Parkways Authority 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-19. Preliminary expenses.
(a) The
commissioner of the state department of highways
Secretary of the Department of Transportation is
hereby authorized
in his
or her discretion to expend out of any funds available for
the purpose, such moneys as may be necessary for the study of any
parkway, economic development or tourism project or projects and to
use the
department of highway's Department of Transportation's
engineering and other forces, including consulting engineers and
traffic engineers, for the purpose of effecting such study and to
pay for such additional engineering and traffic and other expert
studies as he
or she may deem expedient.
and
(b) All such expenses incurred by the
state department of
highways Department of Transportation prior to the issuance of
parkway revenue bonds or revenue refunding bonds under the
provisions of this article shall be paid by the
state department of
highways Department of Transportation and charged to the appropriate
project or projects, and the
state department of highways Department
of Transportation shall keep proper records and accounts showing
each amount so charged.
(c) Upon the sale of parkway revenue bonds or revenue refunding bonds for any project or projects, the funds so expended by the
state department of highways Department of Transportation in
connection with such project or projects
shall may be reimbursed to
the
state department of highways Department of Transportation from
the proceeds of such bonds.
§17-16A-26. Annual report; audit.
(a) Annually, the Parkways Authority shall prepare on an annual
basis 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. The Parkways Authority
shall provide to the Joint Committee on Government and Finance any
financial statements as may be that are required under any trust
agreement to which the Parkways Authority is a party.
(b) Annually, the Parkways Authority 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 Parkways Authority and the audit report of the
Legislative Auditor shall be provided to each member of the
Legislature requesting a copy.
§17-16A-29. Discount program for purchasers of West Virginia EZ
Pass transponders.
(a) The Parkways Authority 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 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 must 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) For purposes of this section, a "West Virginia EZ Pass
transponder" means a device sold by the Parkways Authority 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.