5.1-2.16 - Grants or loans of public or private funds.
§ 5.1-2.16. Grants or loans of public or private funds.
The Board is authorized to accept, receive, receipt for, disburse, and expendfederal and state moneys and other moneys, public or private, made availableby grant or loan or both, to accomplish, in whole or in part, any of thepurposes of this chapter. All federal moneys accepted under this sectionshall be accepted and expended by the Board upon such terms and conditions asare prescribed by the United States and as are consistent with state law; andall state moneys accepted under this section shall be accepted and expendedby the Board upon such terms and conditions as are prescribed by theCommonwealth.
In considering or evaluating the application for or award of any grant ofmoneys under this section, the Board shall take into account the capacitiesof all airports within the affected geographic region.
(1980, c. 750; 1998, c. 480.)