2006 Code of Virginia § 2.2-2233 - Advanced Communications Assistance Fund created; purposes

2.2-2233. Advanced Communications Assistance Fund created; purposes.

A. From such funds as may be appropriated by the General Assembly and anygifts, grants, or donations from public or private sources, there is createdin the state treasury a special nonreverting, permanent fund, to be known asthe Advanced Communications Assistance Fund ("the Fund"), to beadministered by the Authority. The Fund shall be established on the books ofthe Comptroller. Interest earned on moneys in the Fund shall remain in theFund and be credited to it. Any moneys remaining in the Fund at the end ofeach fiscal year, including interest thereon, shall not revert to the generalfund but shall remain in the Fund. Expenditures and disbursements from theFund, which may consist of grants or loans, shall be made by the StateTreasurer on warrants issued by the Comptroller upon written request bearingthe signature of the chairman or the vice-chairman of the Authority, or, ifso authorized by the Authority, bearing his facsimile signature, and theofficial seal of the Authority.

B. Moneys in the Fund shall be used solely for the purpose of helpingunderserved localities in the Commonwealth take full advantage of advancedcommunications services. Loans or grants from the Fund shall be used inunderserved localities for (i) the internal communication needs of suchlocalities, which may include but are not limited to fiber-optic, satellite,and wireless communications networks, or (ii) help in financing the costs ofplanning, designing, purchasing, leasing, installing, or maintaining darkfiber to the extent permitted in 15.2-1500.

C. For purposes of this section:

"Dark fiber" means fiber optic cable that is not lighted by lasers or otherelectronic equipment.

"Underserved locality" means a locality wherein advanced communicationservices are not readily and generally available from three or morenonaffiliated certificated local exchange companies.

(1999, c. 924, 9-265.1; 2001, c. 844.)

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