The Board may acquire by purchase, whenever it deems such purchase expedient, any of the projects set forth in the definition of “project” in § 33.2-1700, upon such terms and at such prices as may be reasonable and can be agreed upon between the Board and the owner thereof, title thereto to be taken in the name of the Commonwealth. The Board shall issue revenue bonds of the Commonwealth as provided in this chapter to pay the cost of such acquisition.

Terms Used In Virginia Code 33.2-1703

  • Board: means the Commonwealth Transportation Board, or if the Commonwealth Transportation Board is abolished, any board, commission, or officer succeeding to the principal functions thereof or upon whom the powers given by this chapter to the Board shall be given by law. See Virginia Code 33.2-1700
  • Owner: includes all individuals, incorporated companies, partnerships, societies, and associations having any title or interest in any property rights, easements, or franchises authorized to be acquired by this chapter. See Virginia Code 33.2-1700

Code 1950, § 33-231; 1970, c. 322, § 33.1-271; 2014, c. 805.

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