§13-3-10. Accounts of Bond Issues; Annual Statements, Canceled Bonds and Coupons
The commission shall keep separate accounts for each bond issue showing in detail all receipts and disbursements: Provided, That accounts of one issuer for the same purpose may be consolidated into one account. Within thirty days after the end of the fiscal year, the commission shall submit to each issuer a statement of all receipts […]
§13-3-11. Statement by Commission to Political Subdivision Showing Levy Required; Determination of Levy
The commission shall, annually, at least thirty days before the time for making up the estimate for levy purposes, render to each political subdivision having outstanding general obligation bonds, a statement showing the levy required to pay the interest on and provide for the retirement of the subdivision's outstanding general obligation bonds. In determining the […]
§13-3-12. Destruction of Canceled Bonds and Coupons
Any canceled bonds and interest coupons of any issue for which the commission acts as fiscal agent or paying agent may be destroyed in the discretion of the commission by one of the two methods described herein below. Method I — The commission shall maintain a permanent record for the purpose of recording the destruction […]
§13-3-13. Substitute Paying Agents
The commission may appoint a new paying agent on any issue for which the commission acts as fiscal agent, in the event of the insolvency, threat of insolvency, malfeasance, misfeasance, incompetence, resignation, or discontinuance from business of the paying agent or in the case of discontinuance of the place of payment as designated by the […]
§13-3-14. Authorizing the Transfer and Investment of Funds Raised by Levy, Sale of Bonds or Otherwise
Any funds of a political subdivision or of any of the agencies, boards, commission or departments of the State of West Virginia raised by levy, sale of bonds or otherwise and which cannot be used within a reasonable time may be transferred to the Municipal Bond Commission. Any funds so transferred shall be invested by […]
§13-3-15. Reports of Commission
The commission shall prepare a complete and full report of its operations and investments at the close of each fiscal year and furnish a copy thereof to the Governor, President of the Senate, Speaker of the House of Delegates and the Legislative Auditor on or before the first day of the next regular session of […]
§13-4-1. Definitions
Unless the context clearly indicates otherwise, as used in this article: (1) "Federal subsidy bonds" means any state or local government bonds authorized for sale under the Internal Revenue Code of 1986, as amended, for which a credit payment is available to the issuer or its designee. Certain Build America Bonds authorized under Section 1531 […]
§13-4-2. Authority to Issue Federal Subsidy Bonds; Election of Credit Payments; Treatment of Federal Subsidy Payments; Exemption From Taxation
(a) A government entity authorized to issue bonds, notes or other debt obligations under the provisions of this code may issue federal subsidy bonds in the manner, and subject to the requirements, limitations and conditions, set forth in the provisions of the code that authorize the government entity to issue such bonds, notes or other […]
§13-3-6. Powers and Duties of Commission
(a) The commission shall serve as fiscal agent for all issuers of general obligation bonds issued by the counties, municipalities, and school districts of the State of West Virginia when the commission is specifically named as the fiscal agent by statute. (b) The commission shall serve as fiscal agent for all issuers of revenue bonds […]
§13-3-7. Permissible Investments; Limitations and Prohibitions on Purchase, Sale or Exchange of Securities; Public Records; Combining Funds and Proration of Interest; Custody of Securities
(a) Notwithstanding any provisions of this code to the contrary, the commission may invest funds under its control in the following classes of securities and not otherwise: (1) Securities of the United States or any agency thereof which are guaranteed by or for which the full faith and credit of the United States is pledged […]