23-30.41 - Definitions.
§ 23-30.41. Definitions.
In this chapter, the following words and terms shall, unless the contextotherwise requires, have the following meanings:
(a) "Authority," the Virginia College Building Authority created by §23-30.25.
(b) "Project," in the case of a participating institution for highereducation, a structure or structures suitable for use as a dormitory or othermulti-unit housing facility for students, faculty, officers or employees, adining hall, student union, administration building, academic building,library, laboratory, research facility, classroom, athletic facility, healthcare facility, maintenance, storage or utility facility and other structuresor facilities related to any of the foregoing or required or useful for theinstruction of students or the conducting of research or the operation of aninstitution for higher education, including parking and other facilities orstructures essential or convenient for the orderly conduct of suchinstitution for higher education, and shall also include landscaping, sitepreparation, furniture, equipment and machinery and other similar itemsnecessary or convenient for the operation of a particular facility orstructure in the manner for which its use is intended but shall not includesuch items as books, fuel, supplies or other items the costs of which arecustomarily deemed to result in a current operating charge, and shall notinclude any facility used or to be used for sectarian instruction or as aplace of religious worship nor any facility which is used or to be usedprimarily in connection with any part of the program of a school ordepartment of divinity for any religious denomination.
(c) "Costs," as applied to a project or any portion thereof financed underthe provisions of this chapter embraces all or any part of the cost ofconstruction, acquisition, alteration, enlargement, reconstruction andremodeling of a project including all lands, structures, real or personalproperty, rights, rights-of-way, air rights, franchises, easements andinterests acquired or used for or in connection with a project, the cost ofdemolishing or removing any buildings or structures on land so acquired,including the cost of acquiring any lands to which such buildings orstructures may be moved, the cost of all machinery and equipment, financingcharges, interest prior to, during and for a period after completion of suchconstruction and acquisition, provisions for reserves for principal andinterest and for extensions, enlargements, additions, replacements,renovations and improvements, the cost of architectural, engineering,financial and legal services, plans, specifications, studies, surveys,estimates of cost and of revenues, administrative expenses, expensesnecessary or incident to determining the feasibility or practicability ofconstructing the project and such other expenses as may be necessary orincident to the construction and acquisition of the project, the financing ofsuch construction and acquisition and the placing of the project in operation.
(d) "Bonds" or "revenue bonds," revenue bonds of the Authority issuedunder the provisions of this chapter, including revenue refunding bonds,notes and other obligations, notwithstanding that the same may be secured bymortgage or by the full faith and credit or by any other lawfully pledgedsecurity of either one or more participating institutions for highereducation.
(e) "Institution for higher education," a nonprofit educational institutionwithin the Commonwealth whose primary purpose is to provide collegiate orgraduate education and not to provide religious training or theologicaleducation.
(f) "Participating institution for higher education," an institution forhigher education which, pursuant to the provisions of this chapter,undertakes the financing and construction or acquisition of a project orundertakes the refunding or refinancing of obligations or of a mortgage or ofadvances as provided in this chapter.
(1972, c. 686; 1973, c. 205.)