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Introduced Version - Originating in Committee Senate Bill 764 History

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Senate Bill No. 764

(By Senators Craigo, Anderson, Bailey, Chafin, Helmick, Jackson, Love, Macnaughtan, Plymale, Prezioso, Sharpe, Walker, Boley, Dugan, McKenzie, Minear and Sprouse)
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[Originating in the Committee on Finance;

reported March 4, 1998.]

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A BILL to amend and reenact section thirteen, article six-a, chapter seventeen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to requiring the parkways authority to pay one million dollars each year to the Hatfield-McCoy trail development coalition, incorporated for five years, beginning with the next fiscal year.

Be it enacted by the Legislature of West Virginia:
That section thirteen, article six-a, chapter seventeen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 6A.WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND TOURISM AUTHORITY.

§17-6A-13. Tolls, rents, fees, charges and revenues; competitive bidding on contracts.

(a) The parkways authority is hereby authorized to may fix, revise, charge and collect tolls for the use of each parkway project and the different parts or sections thereof of a parkway project 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 may contract with any person, partnership, association or corporation desiring the use of any part thereof of a parkway project, 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 may fix the terms, conditions, rents and rates of charges for such that use. Such The 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 parkway 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: (1) The cost of maintaining, repairing and operating such the parkway project or projects and (2) the principal of and the interest on such the bonds as the same shall bonds become due and payable, and to create reserves for such those purposes. Such The tolls, rents, fees and other charges shall are 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 parkway project or projects in connection with which the bonds of any issue shall have been issued, except such the part thereof as may be of the revenues that are necessary to pay such the cost of maintenance, repair and operation and to provide such the reserves therefor as may be provided for in the resolution authorizing the issuance of such the bonds or in the trust agreement securing the same bonds, shall be set aside at such regular intervals as may be provided in such the resolution or such the trust agreement in a sinking fund which is hereby pledged to, and charged with, the payment of: (1) The interest upon such the bonds as such the interest shall fall falls due; (2) the principal of such the bonds as the same shall fall principal falls due; (3) the necessary charges of paying agents for paying principal and interest; and (4) 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 the sinking fund shall be are subject to the provisions of the resolution authorizing the issuance of such the bonds or of such the trust agreement. Except as may otherwise be provided in such the resolution or such the trust agreement, such the sinking fund shall be is a fund for all such bonds without distinction or priority of one over another. The moneys in the sinking fund, less such a reserve as may be provided for in such the resolution or trust agreement, if not used within a reasonable time for the purchase of bonds for cancellation as above provided in this subsection, shall be applied to the redemption of bonds at the redemption price then applicable.
(b) The parkways authority may 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 of an economic development or tourism project, and may contract with any person, partnership, association or corporation desiring the use of any part an economic development or tourism project, 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 may fix the terms, conditions, rents and rates of charges for that use. The rents, fees and charges shall be fixed and adjusted in respect of the aggregate rents, fees and charges, from the economic development or tourism project or projects in connection with which the bonds of any issue have been issued as to provide a fund sufficient with other revenues, if any, to pay: (1) The cost of maintaining, repairing and operating the economic development or tourism project or projects; (2) the principal of and the interest on the bonds as the bonds become due and payable; and (3) one million dollars to the Hatfield-McCoy trail development coalition, incorporated, and to create reserves for those purposes: Provided, That parkways authority shall pay the one million dollars to the Hatfield-McCoy trail development coalition each fiscal year for five years, beginning with the fiscal year that begins on the first day of July, one thousand nine hundred ninety-eight. The rents, fees and other charges are not subject to supervision or regulation by any other commission, board, bureau, department or agency of the state. The rents, fees, charges and all other revenues derived from the economic development or tourism project or projects in connection with which the bonds of any issue have been issued, except the part of the revenues that are necessary to pay the cost of maintenance, repair and operation and to provide the reserves therefor as may be provided for in the resolution authorizing the issuance of bonds or in the trust agreement securing the bonds, shall be set aside at regular intervals as provided in the resolution or the trust agreement in a sinking fund which is pledged to, and charged with, the payment of: (1) The interest upon the bonds as the interest principal falls due; (2) the principal of the bonds as the principal falls due; (3) the necessary charges of paying agents for paying principal and interest; and (4) 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 the sinking fund are 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, the sinking fund shall be a fund for all bonds without distinction or priority of one over another. The moneys in the sinking fund, less a reserve as provided for in the resolution or trust agreement, if not used within a reasonable time for the purchase of bonds for cancellation as provided in this subsection, shall be applied to the redemption of bonds at the redemption price then applicable.
(b)(c) The parkways authority 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 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 receives a proposal for the development of a project, such the proposal shall be made available to the public in a convenient location in the county wherein in which the proposed facility may be located. The parkways authority 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 his or her opposition to or approval to such the 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 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, article three, chapter fifty- nine of this code. The parkways authority 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 in making such the 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 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.
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