33.1-287 - Cessation of tolls.
§ 33.1-287. Cessation of tolls.
When the particular revenue bonds issued for any project or projects and theinterest thereon have been paid, or a sufficient amount has been provided fortheir payment and continues to be held for that purpose, the Board shallcease to charge tolls for the use of such project or projects and thereaftersuch project or projects shall be free; however, the Board may thereaftercharge tolls for the use of any such project when tolls are required formaintaining, repairing, operating, improving, and reconstructing suchproject, when such tolls have been or are pledged by the Board to the paymentof revenue bonds issued under the provisions of the article for anotherproject or projects on approval of the General Assembly or when such tollsare designated by the Board to be deposited into the Transportation TrustFund. But any such pledge of tolls of a project to the payment of bondsissued for another project shall not be effectual until the principal andinterest of the bonds issued for the first mentioned project shall have beenpaid or provision made for their payment.
The foregoing provisions shall also apply to tolls on projects constructedpursuant to (i) the acts incorporated by reference by § 33.1-253 (ChesapeakeBay Bridge and Tunnel District), and (ii) to the Richmond MetropolitanAuthority, established in Chapter 70 (§ 15.2-7000 et seq.) of Title 15.2,provided their governing bodies have acted as set forth in subdivision 4 of §33.1-23.03:1.
(Code 1950, § 33-247; 1970, c. 322; 1986, Sp. Sess., c. 13; 2009, c. 471.)