10.1-112 - Capital improvement projects. - Virginia Statutes

§ 10.1-112. Capital improvement projects.

The Director is authorized to make and execute leases and contracts in thename of the Commonwealth for the development and operation ofrevenue-producing capital improvement projects in Virginia state parks uponthe written approval of the Governor. Prior to approval, the Governor shallconsider the written recommendation of the Director of the Department ofGeneral Services and the Attorney General shall review such leases andcontracts as to form.

Any contract or lease for the development and operation of the capitalimprovement project shall be in accordance with the provisions of theVirginia Public Procurement Act (§ 2.2-4300 et seq.). The accepted biddershall give a performance bond for the construction, operation and maintenanceof the project with good and sufficient surety in an amount fixed by theDirector for the faithful performance of the conditions and covenants of suchlease or contract.

Such lease or contract, with an initial term not exceeding 30 years, shallbe subject to terms, conditions, and limitations as the Director mayprescribe and may be renewed with the approval of the Director. The proceedsarising from a contract or lease executed pursuant to this section shall bepaid into the State Park Conservation Resources Fund established insubsection A of § 10.1-202.

(1987, c. 835, § 10-17.114; 1980, c. 451; 1984, c. 739; 1987, c. 453; 1988,c. 891; 1998, c. 168; 2003, cc. 79, 89.)