H. B. 4344
(By Delegates Porter, Sumner and Lane)
[Introduced February 1, 2006; referred to the
Committee on Government Organization then Finance.]
A BILL to amend and reenact §17-16A-6, §17-16A-7, §17-16A-10,
§17-16A-11, §17-16A-13, §17-16A-18a, §17-16A-20, §17-16A-21,
§17-16A-22, §17-16A-23 and §17-16A-25 of the Code of West
Virginia, 1931, as amended, all relating to modifying the West
Virginia Parkways, Economic Development and Tourism
Authority's power and authority to charge tolls and issue
bonds; and to transfer duties and responsibilities of the
Parkways, Economic Development and Tourism Authority to the
Division of Highways.
Be it enacted by the Legislature of West Virginia:
That §17-16A-6, §17-16A-7, §17-16A-10, §17-16A-11, §17-16A-13,
§17-16A-18a, §17-16A-20, §17-16A-21, §17-16A-22, §17-16A-23 and
§17-16A-25 of the Code of West Virginia, 1931, as amended, be
amended and reenacted, all to read as follows:
ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND TOURISM AUTHORITY.
§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 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, however, That as of the first day of July, two
thousand six, once all existing bonds issued have been repaid, all
such administrative duties with respect to roads, highways and the
West Virginia Turnpike shall be assumed by and transferred to the
Division of Highways.
(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 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;
(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) Constructing improvements,
enlargements or extensions to the project in connection with which
the bonds to be refunded were issued; (ii) paying all or part of
the cost of any additional project or projects; (iii) refunding any
bonds which shall have been issued under the provisions of this
article or any predecessor thereof; and (iv) repaying to the state
all or any part of the state funds used to upgrade the West
Virginia Turnpike to federal interstate standards;
(8) Beginning the first day of July, two thousand six, the
parkways authority may not issue any bonds as mentioned in
subdivisions (6) and (7) of this subsection unless the Legislature
authorizes it to do so;
(8) (9) To fix and revise from time to time tolls for transit
over each parkway project constructed by it or by the West Virginia
Turnpike Commission;
(10) Beginning the first day of July, two thousand six, all
tolls fixed by the parkways authority are to revert back to the original rate fixed when the outstanding parkways revenue bonds
were issued;
10) (11) 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;
(11) (12) 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;
(12) (13) 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;
(13) (14) 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;
(14) (15) 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;
(15) (16) 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;
(16) (17) 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;
(17) (18) To do all acts and things necessary or convenient to
carry out the powers expressly granted in this article; and
(18) (19) 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.
§17-16A-7. Parkways authority's incidental powers.
The parkways authority shall have 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 as a part of the cost of such project.
If the parkways authority 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 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 as a part of the
cost of such project.
Upon the request of the parkways authority, the Commissioner
of the State
Department Division of Highways shall relocate or
discontinue any road or highway over which he has authority and
control which is affected by the construction of any project.
In addition to the foregoing powers, the parkways authority
and its 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 may deem necessary or
convenient for the purposes of this article, and such entry shall
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 shall make reimbursement for
any actual damages resulting to such lands, waters and premises as
a result of such activities.
Beginning the first day of July, two thousand six, once all
existing bonds are repaid, all duties and responsibilities relating to roads, highways and the West Virginia Turnpike mentioned in this
section are to be assumed by and transferred to the Division of
Highways.
The State of West Virginia hereby consents to the use of all
lands owned by it, including lands lying under water, which are
deemed by the parkways authority to be necessary for the
construction or operation of any project.
§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 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
or she 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
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 project or 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.
(m) Beginning the first day of July, two thousand six, the
parkways authority may not issue any parkway revenue bonds as
mentioned in this section unless the Legislature has granted it the
authority to do so.
§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, two hundred million dollars for the purpose of paying: (i) 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)
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) to the extent permitted by
federal law, all or any part of the cost of any related parkway
project. 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 on the first day of June, one thousand nine hundred
eighty-nine, 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 the first day of June, one thousand
nine hundred eighty-nine:
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) 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) have been recommended by the authority's
consulting engineers or traffic engineers, or both, prior to the
issuance of the bonds. 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) Notwithstanding the provisions of subsection (a) of this
section, no additional bonds authorized by the amendments to this
section enacted during the regular session of the Legislature in
the year two thousand four may be issued until the parkways
authority has adopted by written resolution a final, irrevocable
decision to fully fund and complete the construction of a Shady
Spring connector and interchange connecting to the West Virginia
Turnpike from its toll funds or from the proceeds of bonds issued
for that purpose pursuant to subsection (a) of this section, or
from both, or funded, in whole or in part, by federal highway funds
if they are available.
(c) Beginning the first day of July, two thousand six, the
parkways authority may not issue any parkway revenue bonds as
mentioned in this section unless the Legislature has granted it the
authority to do so.
§17-16A-13. Tolls, rents, fees, charges and revenues; competitive
bidding on contracts.
(a)(1) The parkways authority 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:
Provided, That beginning the first day of
July, two thousand six, all tolls charged are to revert back to the
original rate when the existing bonds were issued. 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 one thousand nine hundred ninety-eight, after the parkways authority has met or provided for the
satisfaction of each requirement imposed by the provisions of
subdivision (1) of this subsection, the parkways authority shall
pay two hundred fifty thousand dollars 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 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 six million dollars 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
be authorized to do so, as certified to the parkways authority, the
Governor and the Joint Committee on Government and Finance, the
parkways authority is authorized to issue additional revenue bonds
in a total amount not to exceed six million dollars. 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 shall pay two hundred fifty thousand dollars to the
Hatfield-McCoy Regional Recreation Authority in the fiscal year
ending the thirtieth day of June, two thousand, 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 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 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 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 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 of said article. 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 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.
§17-16A-18a. Corridor "L" toll fees authorized; commuter pass;
annual report.
(a) The parkways authority 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 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
at said interchange as of the first day of January, one thousand
nine hundred ninety, and hereafter, no proposed increase in such
toll fees shall be implemented by the parkways authority unless the
authority shall have first complied with validly promulgated and
legislatively approved rules
and regulations pursuant to the
applicable provisions of chapter twenty-nine-a of this code:
Provided, That beginning the first day of July, two thousand six,
all tolls fixed at these facilities are to revert back to the
original rate fixed when the outstanding bonds were issued by the
parkways authority.
(2) As soon as reasonably possible after the effective date of
this legislation, but in no event later than the first day of July, one thousand nine hundred ninety, the authority shall establish,
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:
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, 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 five dollars per year for a
full calendar year of unlimited travel through the U.S. Route 19
(Corridor "L") turnpike interchange toll facilities.
To the extent required or necessary, the parkways authority 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, 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 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 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 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 code to the
contrary, the parkways authority 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 as Barrier A, Barrier B and Barrier C (I-64, I-77).
§17-16A-20. Parkway projects part of state road system; pledge of
limited funds by State Department Division of
Highways in case of deficit.
It is hereby declared that any expressway, turnpike, feeder
road, state local service road or park and forest road or other
road, or any subsequent expressway, turnpike feeder road, state
local service road, park and forest road or other road constructed
pursuant to this article shall be a part of the state road system,
although subject to the provisions of this article and of any bonds
or trust agreements entered into pursuant thereto, and that the
construction of such parkway projects shall be considered as
developments of the state road system. Any other provisions of
this article to the contrary notwithstanding, in order to encourage
the development of the state road system, the state is authorized
in its discretion to pledge by resolution and agreement annually to
pay from the state road fund, subject to all prior commitments of
such fund which shall be stated in the resolution and agreement,
the amount of any yearly deficit between the principal and interest
requirements of any such parkway project or portion thereof
hereafter constructed and the amount available in the hands of the
parkways authority to pay such requirements, up to three fourths of
one percent of the estimated or actual construction cost of such
parkway project or portion thereof for which such pledge is made, until any bonds issued and interest due upon the basis of such a
pledge have been fully paid and satisfied;
Provided, That the
state department of highways shall enter into no agreement with
underwriters on any bond issue for the purpose of constructing or
aiding in the construction of any toll road unless and until there
is filed with the parkways authority a report and finding of
reputable traffic engineers of national standing, showing that the
earnings from the proposed toll road will be sufficient to provide
annual income in an amount at least large enough to cover the
annual cost of retiring the indebtedness, including interest,
sinking fund and operating costs of such toll highway.
§17-16A-21. Parkway revenue refunding bonds--Generally.
The parkways authority 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, 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 parkways authority
is further authorized to provide by resolution for the issuance of
parkway revenue bonds of the state for the combined purpose of two
or more of the following: (a) 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; (b) paying all or any part of the cost of any additional
project or projects; and (c) repaying to the state all or any part
of the state funds used to upgrade the West Virginia Turnpike to
federal interstate standards. 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 in respect of the same, shall be governed by the
provisions of this article insofar as the same may be applicable.
Beginning the first day of July, two thousand six, the parkways
authority may not issue such bonds unless the Legislature grants it
the authority to do so.
§17-16A-22. Parkway revenue refunding bonds--West Virginia
Turnpike.
The parkways authority 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 sixty
million dollars 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, for either or both of
the following purposes: (a) Paying all or any part of the cost of
any additional parkway project or projects, 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: 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 the first
day of June, one thousand nine hundred eighty-nine, 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 provided in section twenty-three of this
article. 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 in respect of the same, shall
be governed by the provisions of this article insofar as the same
may be applicable.
Beginning the first day of July, two thousand
six, the parkways authority may not issue such refunding bonds in
connection with the West Virginia Turnpike unless the Legislature
grants it the authority to do so.
§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 of
Highways by the parkways authority, including without limitation
the proceeds of any parkway revenue bonds or revenue refunding
bonds issued by the parkways authority 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
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 thirty-five million dollars 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 chapter thirty-one. On or before the thirty-first
day of December, one thousand nine hundred ninety-four, the
Economic Development Authority shall retransfer to the special highway fund the thirty-five million dollars advanced to the
insurance fund pursuant to this section. All interest earned on
the thirty-five million dollars while being held in the insurance
fund shall remain in, and be the property of, said insurance fund:
Provided, That on and after the first day of July, one thousand
nine hundred ninety-two, the Governor shall have the authority to
transfer six million dollars 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 thirty-five million dollars 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 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.
(d) Beginning the first day of July, two thousand six, once
all existing bonds are repaid by the parkways authority, all funds
in the West Virginia Special Highway Fund granted to it shall be
allocated and dispersed to the Division of Highways.
§17-16A-25. Additional powers of parkways authority; issuance of
special obligation bonds.
(a) In addition to all powers granted by the foregoing
sections of this article, the parkways authority 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 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 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
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 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 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.
(d)
Beginning the first day of July, two thousand six, the
parkways authority may not issue such special obligation bonds
unless the Legislature grants it the authority to do so.
(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 twenty million
dollars 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 three hundred fifty million
dollars bond issue authorized by the roads development amendment
shall be included in the acquisition of the We
st Virginia Turnpike.
NOTE: The purpose of this bill is to modify the West Virginia
Parkways, Economic Development and Tourism Authority's power and
authority to charge tolls and issue bonds and to transfer duties
and responsibilities of the parkways authority to the Division of
Highways.
Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would
be added.