Whenever used, unless a different meaning clearly
appears in the context, the following terms, whether used in the singular
or plural, shall be given the following respective interpretations:
AUTHORITY
The Industrial Development Authority of Shenandoah County,
Virginia, created, organized and operated pursuant to the provisions
of this Article; or, if said authority shall be abolished, the board,
body, commission, department or officer succeeding to the principal
functions thereof or to whom the powers given by this Article shall
be given by law.
AUTHORITY FACILITIES or FACILITIES
Any or all medical, hospital or health care, including but
not limited to office and treatment facilities, pollution control
and industrial facilities, located within or without or partly within
or without Shenandoah County, now existing or hereafter acquired,
constructed or installed by or for said authority for lease or sale
by the authority pursuant to the terms of this Article. Any "facility"
may consist of or include any or all buildings, improvements, additions,
extensions, replacements, machinery or equipment, and may also include
appurtenances, lands, rights in land, water rights, franchises, furnishings,
landscaping, utilities, approaches, roadways and other facilities
necessary or desirable in connection therewith or incidental thereto,
acquired, constructed or installed by or on behalf of said authority.
A pollution control facility shall include any facility acquired,
constructed or installed or any expenditure made, including the reconstruction,
modernization or modification of any existing building, improvement,
addition, extension, replacement, machinery or equipment, and which
is designed to further the control or abatement of land, sewer, water,
air, noise or general environmental pollution derived from the operation
of any industrial or medical facility. Any "facility" may be constructed
on or installed in or upon lands, structures, rights-of-way, easements,
air rights, franchises or other property rights or interests whether
owned by said authority or others.
BONDS or REVENUE BONDS
Notes, bonds and other obligations authorized to be issued
by the authority pursuant to the provisions of this Article.
COMMONWEALTH
The State of Virginia.
COST
Includes, as applied to authority facilities, the cost of
construction, the cost of acquisition of all lands, structures, rights-of-way,
franchises, easements and other property rights and interests, the
cost of demolishing, removing or relocating any buildings or structures
on lands acquired, including the cost of acquiring any lands to which
such buildings or structures may be moved or relocated, the cost of
all labor, material, machinery and equipment, financing charges, interest
on all bonds prior to and during and, if deemed advisable by said
authority, for a period not exceeding one year after completion of
such construction, cost of engineering, financial and legal services,
plans, specifications, studies, surveys, estimates of cost and of
revenues, other expenses necessary or incident to determine the feasibility
or practicability of constructing said authority facilities, administrative
expenses, provisions for working capital, reserves for interest and
for extensions, enlargements, additions and improvements and such
other expenses as may be necessary or incident to the construction
of the authority facilities, the financing of such construction and
the placing of the authority facilities in operation. Any obligation
or expense incurred by the commonwealth, municipality or any agencies
thereof, with the approval of authority, for studies, surveys, borings,
preparation of plans and specifications or other work or materials
in connection with the construction of the authority facilities may
be regarded as a part of the cost of the authority facilities and
may be reimbursed to the commonwealth, municipality or any agencies
thereof out of the proceeds of the bonds issued for such authority
facilities as hereinafter authorized.
ENTERPRISE
Any industry for the manufacturing, processing, assembling,
storing, warehousing, distributing or selling any products of agriculture,
mining or industry and for research and development of scientific
laboratories, including but not limited to the practice of medicine
and all other activities related thereto, or for such other businesses
as will be in the furtherance of the public purposes of this Article.
GOVERNING BODY
The Board of Supervisors of Shenandoah County, Virginia.
MUNICIPALITY
The County of Shenandoah, Virginia.
REVENUES
Any or all fees rates, rentals and receipts collected by,
payable to or otherwise derived by the authority from, and all other
moneys and income of whatsoever kind or character collected by, payable
to or otherwise derived by said authority in connection with the ownership,
leasing or sale of authority facilities.
TRUST INDENTURE
Any trust agreement or mortgage under which bonds authorized
pursuant to this Article may be secured.
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