§12-7-16. Credit of State Not Pledged
The provisions of this article do not and shall not be construed to authorize the jobs investment trust board at any time or in any manner to grant or pledge the credit or taxing power of the state. None of the obligations or debts created by the jobs investment trust board under the authority granted […]
§12-8-1. Short Title
This article shall be known and may be cited as the pension liability redemption act.
§12-8-2. Declaration of Policy; Legislative Findings; Legislative Intent
The Legislature finds and declares that: (a) The Legislature has established a number of pension systems, including the death, disability and retirement fund of the West Virginia State Police established in article two, chapter fifteen of this code; the Judges' Retirement System established in article nine, chapter fifty-one of this code; and the Teachers Retirement […]
§12-8-3. Definitions
As used in this article, unless the context clearly requires a different meaning: (1) "Bonds" means bonds, notes, refunding notes and bonds, or other obligations of the state issued by the Governor pursuant to this article.
§12-8-4. Issuance of Bonds; Determination of Unfunded Actuarial Accrued Liability
(a) The Governor may, as provided by this article, issue the bonds authorized in this section at a time or times as provided by a resolution adopted by the Legislature to fund all or a portion of the unfunded actuarial accrued liability, the bonds to be payable from and secured by moneys deposited in the […]
§12-7-10. Acceptance or Rejection of Investment Package
(a) The board may approve or disapprove an investment package or any portion thereof: Provided, That notwithstanding any provision of this article to the contrary, the board may not accept any investment package or any portion thereof unless the same has been reviewed and approved by the board's executive director in his or her sole […]
§12-7-2. Legislative Findings
(a) The Legislature finds that the Jobs Investment Trust is a necessary tool to make investment funds available to eligible businesses, would stimulate economic growth, and provide or retain jobs within the state. Accordingly, it is declared to be the public policy of the state to create an investment program to inject needed capital into […]
§12-7-3. Definitions
For purposes of this article: (a) “Board” means the West Virginia Economic Development Authority, established pursuant to 31-15-1 et seq. of this code. (b) “Eligible business” means any business, including, but not limited to, a business licensed or seeking licensure by the small business administration as a small business investment company under the Small Business […]
§12-7-4. Jobs Investment Trust Board; Termination; Vesting With the Economic Development Authority
(a) The Jobs Investment Trust Board is hereby terminated, and the management and control of the Jobs Investment Trust shall be vested in the West Virginia Economic Development Authority. (b)The board shall meet on a quarterly basis or more often, if necessary, to carry out the powers and duties of the board with respect to […]
§12-7-5. Management and Control of Jobs Investment Trust Vested in Board; Officers; Liability; Authority of Executive Director to Act on Behalf of Board; Relationship to Higher Education Institutions
(a) It is the duty of the board to manage and control the Jobs Investment Trust. With the advice and consent of the Senate, the Governor appoints an executive director of the Jobs Investment Trust who is or has been a senior executive of a major financial institution, brokerage firm, investment firm or similar institution, […]