10.1-645 - Limits on expenditures authorized under § 10.1-638 B; sale of resulting facilities; sale of stored water; renting facilities. - Virginia Statutes

§ 10.1-645. Limits on expenditures authorized under § 10.1-638 B; sale ofresulting facilities; sale of stored water; renting facilities.

Expenditures by the Board for any one facility under the provisions of §10.1-638 B shall not exceed $500,000 without the written approval of theGovernor for construction and seeding, acquisition of land, easements, andrights-of-way, engineering costs, appraisal costs, legal services, and othercosts related to the facility. The Board is authorized to sell any facilityresulting from an expenditure authorized by § 10.1-638 B to any entity towhom a loan could be made pursuant to the provisions of § 10.1-638 A underthe terms and conditions prescribed hereinafter. Conveyances of any suchfacilities shall be executed by the chairman of the Board acting pursuant toa resolution of the Board and shall be approved by the Governor and AttorneyGeneral as to form and substance. Upon the transfer of title of suchfacilities, the purchasing entity shall grant an easement or right-of-way tothe appropriate soil and water conservation district to assure the continuedoperation, inspection and repair of the works of improvement on the landsold, and in all cases, the purchasing entity shall agree to maintain thefacility in a satisfactory manner. The Board may contract with an entityeligible to borrow from the revolving fund pursuant to § 10.1-638 A, for thesale of water stored at facilities constructed by expenditures pursuant to §10.1-638 B. However, it is not the intent of this article to provide a meanswhereby the Commonwealth shall store and sell water to such entities;therefore, unless extenuating circumstances prevail, such contract shall beentered into with the understanding that such entities shall acquire therights of the Board in the water storage facility by a future date agreeableto the Board and entity. The Board may lease such facilities to any agency orentity of government, corporation, organization or individual forrecreational purposes or any other uses which will not impair the facilities'value for future water supply. Proceeds from the sale of stored water or saleor rental of such facilities shall be placed in the revolving fund.

(1970, c. 591, § 21-11.9; 1972, c. 821; 1988, c. 891.)