§12-6C-7. Management and Control of Fund; Officers; Staff; Fiduciary or Surety Bonds for Directors; Liability of Directors
(a) The management and control of the Consolidated Fund is vested solely in the Board in accordance with the provisions of this article. (b) The State Treasurer is the chairperson of the Board. The Board shall elect a vice chairperson. Annually, the directors shall elect a secretary to keep a record of the proceedings of […]
§12-6C-8. Administration of Consolidated Fund
(a) In the administration of the Consolidated Fund continued by this article, the board may: (1) Purchase, retain, hold, transfer and exchange and sell, at public or private sale, the whole or any part of the fund or pools upon any terms and conditions it considers advisable;
§12-6C-9. Asset Allocation; Investment Policies, Authorized Investments; Restrictions
(a) The board shall develop, adopt, review, or modify an asset allocation plan for the Consolidated Fund at each annual board meeting. (b) The board shall adopt, review, modify, or cancel the investment policy of each fund or pool created at each annual board meeting. For each participant directed account authorized by the State Treasurer, […]
§12-6C-10. Investment Authority for Consolidated Fund Transferred to Board; Exceptions
Effective July 1, 2005, all duties vested by law in state spending units and the West Virginia Investment Management Board relating to the Consolidated Fund are transferred to the Board, including without limitation the investment of moneys, and the acquisition, sale, exchange or disposal of securities or any other investment: Provided, That neither this section […]
§12-6C-11. Legislative Findings; Loans for Industrial Development; Availability of Funds and Interest Rates
(a) Subject to a liquidity determination, the West Virginia Board of Treasury Investments shall make a revolving loan available to the West Virginia Economic Development Authority in an amount of up to $200 million. The revolving loan shall be used for business or industrial development projects authorized by 31-15-7 of this code and to consolidate […]
§12-6A-4. Definitions
For the purpose of this article: "Debt" means bonds, notes, certificates of participation, certificate transactions, capital leases, debentures, lease purchases, mortgages, securitizations and all other forms of securities and indebtedness obligations evidencing specific amounts owed and payable on demand or on determinable dates. "Debt impact report" means a report prepared by the division which includes […]
§12-6A-5. Powers and Duties
The Division of Debt Management shall perform the following functions and duties: (1) Continuously evaluate the current and projected debt and debt service requirements of the State and its spending units.
§12-6A-6. Reporting
(a) Within fifteen days following the end of each calendar quarter, each state spending unit shall provide the division and the Legislative Auditor, in the manner provided by this article and in such form and detail as the State Treasurer may require, a report including, but not limited to, the name of the state spending […]
§12-6A-7. Promulgation of Rules
The Treasurer shall propose rules for legislative approval relating to the reporting requirements and duties under this article in accordance with the provisions of article three, chapter twenty-nine-a of this code.
§12-6C-1. Purposes and Objects; How Article Cited
This article, cited as the West Virginia Treasury Investments Act, is enacted to provide for the investment and management of the Consolidated Fund for the purposes of making state moneys more accessible to state government and allowing the Investment Management Board to focus on long-term investment of the trust estates it manages pursuant to article […]