Terms Used In Virginia Code > Title 2.2 > Subtitle II > Part B > Chapter 50 - Interest on Certain Obligations of Government Instrumentalities

• Area of Operation: means land owned by the Commonwealth at Fort Monroe. See Virginia Code 2.2-2337
• Authority: means the Fort Monroe Authority. See Virginia Code 2.2-2337
• Bequest: Property gifted by will.
• Board: means the Board of Trustees created in § 2. See Virginia Code 2.2-2337
• Bonds: means any bonds, notes, interim certificates, debentures, or other obligations issued by the Authority pursuant to this article. See Virginia Code 2.2-2337
• City: means the City of Hampton, Virginia, a municipal corporation of the Commonwealth of Virginia. See Virginia Code 2.2-2337
• Design Standards: means the standards developed as a requirement of the Programmatic Agreement and referred to in that document as the "Historic Preservation Manual and Design Standards" which govern the restoration, rehabilitation, and renovation of the contributing elements to the Fort Monroe National Historic Landmark District and new construction, additions, and reconstruction of buildings so they are compatible with the overall character of the District, as they may be adopted or amended from time to time. See Virginia Code 2.2-2337
• Devise: To gift property by will.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Master Plan: means the plan that identifies the long-term vision for the reuse of the Area of Operation, key implementation projects, and a detailed implementation strategy for attracting new uses and investment to the Area of Operation as approved by the Authority and produced in accordance with the public participation plan as adopted by the Authority. See Virginia Code 2.2-2337
• Nonlegislative citizen member: means any natural person who is not a member of the General Assembly of Virginia. See Virginia Code 1-225
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Programmatic Agreement: means that certain agreement, as it may be amended from time to time, entered into among the U. See Virginia Code 2.2-2337
• real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
• Real property: means all lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto, or used in connection therewith, and every estate, interest, and right, legal or equitable, therein, including terms for years and liens by way of judgment, mortgage, or otherwise and the indebtedness secured by such liens. See Virginia Code 2.2-2337
• Reuse Plan: means the document created by the Fort Monroe Federal Area Development Authority and adopted as an official operating document on August 20, 2008, as it may be amended from time to time. See Virginia Code 2.2-2337
• State Memorandum of Understanding: means an agreement between the Authority, the Secretary of Administration, the State Historic Preservation Officer, and the Governor, on behalf of all state agencies, to protect Fort Monroe and its historic, cultural, and natural assets by carefully implementing the plans, stipulations, requirements, and obligations under the Programmatic Agreement for nonfederal lands following the transfer of properties from the United States Army to the Commonwealth. See Virginia Code 2.2-2337
• Trustees: means the members of the Board of Trustees of the Authority. See Virginia Code 2.2-2337