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Virginia Code Title 23.1. Institutions of Higher Education;  Other Educational and Cultural Institutions § 23.1-2400. Definitions

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As used in this chapter, unless the context requires a different meaning:

Authority” means the Virginia Commonwealth University Health System Authority.

Board” means the board of directors of the Authority.

Bonds” means bonds, notes, revenue certificates, lease participation certificates, or other evidences of indebtedness or deferred purchase financing arrangements.

Chief executive officer” means the chief executive officer of the Virginia Commonwealth University Health System Authority.

Costs” means (i) costs of (a) construction, reconstruction, renovation, site work, and acquisition of lands, structures, rights-of-way, franchises, easements, and other property rights and interests;  (b) demolition, removal, or relocation of buildings or structures;  (c) labor, materials, machinery, and all other kinds of equipment;  (d) engineering and inspections;  (e) financial, legal, and accounting services;  (f) plans, specifications, studies, and surveys;  (g) estimates of costs and of revenues;  (h) feasibility studies;  and (i) issuance of bonds, including printing, engraving, advertising, legal, and other similar expenses;  (ii) financing charges;  (iii) administrative expenses, including administrative expenses during the start-up of any project;  (iv) credit enhancement and liquidity facility fees;  (v) fees for interest rate caps, collars, swaps, or other financial derivative products;  (vi) interest on bonds in connection with a project prior to and during construction or acquisition thereof and for a period not exceeding one year thereafter;  (vii) provisions for working capital to be used in connection with any project;  (viii) redemption premiums, obligations purchased to provide for the payment of bonds being refunded, and other costs necessary or incident to refunding of bonds;  (ix) operating and maintenance reserve funds, debt reserve funds, and other reserves for the payment of principal and interest on bonds;  (x) all other expenses necessary, desirable, or incidental to the operation of the Authority's facilities or the construction, reconstruction, renovation, acquisition, or financing of projects, other facilities, or equipment appropriate for carrying out the purposes of this chapter and the placing of the same in operation;  or (xi) the refunding of bonds.

Hospital facilities” means all property or rights in property, real and personal, tangible and intangible, including all facilities suitable for providing hospital and health care services and all structures, buildings, improvements, additions, extensions, replacements, appurtenances, lands, rights in land, furnishings, landscaping, approaches, roadways, and other related and supporting facilities owned, leased, operated, or used, in whole or in part, by Virginia Commonwealth University as part of, or in connection with, MCV Hospitals in the normal course of its operations as a teaching, research, and medical treatment facility.

Hospital obligations” means all debts or other obligations, contingent or certain, owing to any person or other entity on the transfer date, arising out of the operation of MCV Hospitals as a medical treatment facility or the financing or refinancing of hospital facilities and including all bonds and other debts for the purchase of goods and services, whether or not delivered, and obligations for the delivery of services, whether or not performed.

Project” means any health care, research, or educational facility or equipment necessary or convenient to or consistent with the purposes of the Authority, whether owned by the Authority, including hospitals;  nursing homes;  continuing care facilities;  self-care facilities;  wellness and health maintenance centers;  medical office facilities;  clinics;  outpatient clinics;  surgical centers;  alcohol, substance abuse, and drug treatment centers;  laboratories;  sanitariums;  hospices;  facilities for the residence or care of the elderly, the handicapped, or the chronically ill;  residential facilities for nurses, interns, and physicians;  other kinds of facilities for the treatment of sick, disturbed, or infirm individuals, the prevention of disease, or maintenance of health;  colleges, schools, or divisions offering undergraduate or graduate programs for the health professions and sciences and such other courses of study as may be appropriate, together with research, training, and teaching facilities;  all necessary or desirable related and supporting facilities and equipment or equipment alone, including (i) parking, kitchen, laundry, laboratory, wellness, pharmaceutical, administrative, communications, computer, and recreational facilities;  (ii) power plants and equipment;  (iii) storage space;  (iv) mobile medical facilities;  (v) vehicles;  (vi) air transport equipment;  and (vii) other equipment necessary or desirable for the transportation of medical equipment, medical personnel, or patients;  and all lands, buildings, improvements, approaches, and appurtenances necessary or desirable in connection with or incidental to any project.

Transfer date” means a date or dates agreed to by the board of visitors of Virginia Commonwealth University and the Authority for the transfer of employees to the Authority and for the transfer of hospital facilities, or any parts thereof, to and the assumption, directly or indirectly, of hospital obligations by the Authority, which dates for the various transfers and the various assumptions may be different, but in no event shall any date be later than June 30, 1997.

University” means Virginia Commonwealth University.

Cite this article: - Virginia Code Title 23.1. Institutions of Higher Education;  Other Educational and Cultural Institutions § 23.1-2400. Definitions - last updated January 01, 2020 |

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