West Virginia Code 17-27-2 – Definitions
As used in this article, the following words and terms have the following meanings:
Terms Used In West Virginia Code 17-27-2
- Comprehensive agreement: means the comprehensive agreement by and between a developer and the division required by section nine of this article. See West Virginia Code 17-27-2
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the Department of Transportation. See West Virginia Code 17-27-2
- Developer: means the private entity that is responsible for the acquisition, construction or improvement of a qualifying transportation facility. See West Virginia Code 17-27-2
- Division: means the Division of Highways. See West Virginia Code 17-27-2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Private entity: means any natural person, corporation, limited liability company, partnership, joint venture or other private business entity. See West Virginia Code 17-27-2
- Public entity: means the State of West Virginia or any political subdivision thereof. See West Virginia Code 17-27-2
- Qualifying transportation facility: means one or more transportation facilities acquired, constructed or improved by a private entity pursuant to this article. See West Virginia Code 17-27-2
- Service contract: means a contract entered into between a public entity and a developer pursuant to section six of this article. See West Virginia Code 17-27-2
- State: means the State of West Virginia. See West Virginia Code 17-27-2
- Transportation facility: means any public inland waterway port facility, road, bridge, tunnel, overpass or existing airport used for the transportation of persons or goods, and the structures, equipment, facilities or improvements necessary or incident thereto. See West Virginia Code 17-27-2
- User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
(1) "Comprehensive agreement" means the comprehensive agreement by and between a developer and the division required by section nine of this article.
(2) "Department" means the Department of Transportation.
(3) "Developer" means the private entity that is responsible for the acquisition, construction or improvement of a qualifying transportation facility.
(4) "Division" means the Division of Highways.
(5) "Material default" means any default by the developer in the performance of its duties under subsection (f), section eight of this article that jeopardizes adequate service to the public from a qualifying transportation facility and remains unremedied after the division has provided notice to the developer and a reasonable cure period has elapsed.
(6) "Private entity" means any natural person, corporation, limited liability company, partnership, joint venture or other private business entity.
(7) "Public entity" means the State of West Virginia or any political subdivision thereof.
(8) "Qualifying transportation facility" means one or more transportation facilities acquired, constructed or improved by a private entity pursuant to this article.
(9) "Revenues" mean the user fees or service payments generated by a qualifying transportation facility.
(10) "Service contract" means a contract entered into between a public entity and a developer pursuant to section six of this article.
(11) "Service payments" mean payments to the developer of a qualifying transportation facility pursuant to a service contract.
(12) "State" means the State of West Virginia.
(13) "Transportation facility" means any public inland waterway port facility, road, bridge, tunnel, overpass or existing airport used for the transportation of persons or goods, and the structures, equipment, facilities or improvements necessary or incident thereto.
(14) "User fees" mean the rates, tolls, fees or other charges imposed by the developer of a qualifying transportation facility for use of all or a portion of the qualifying transportation facility pursuant to the comprehensive agreement.