§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 […]
§13-3-2. Composition of Commission; Terms of Appointment; Vacancies; Removal From Office
(a) The commission shall be composed of five members as follows: (1) The Auditor of the state, by virtue of his office; (2) the treasurer of the state, by virtue of his office; (3) the State Tax Commissioner, by virtue of his office; and (4) two residents of the state appointed by the Governor by […]
§13-3-3. Officers; Employees; Chief Administrative Officer; Meetings; Quorum; Compensation and Expenses; Legal Representation
(a) The Tax Commissioner or his or her designee shall be chair of the commission. (b) The members of the commission shall appoint a chief administrative officer and may fix his title and duties. Notwithstanding the provisions of section two-a, article seven, chapter six of this code, the commission shall have the authority to set […]
§13-3-4. Executive Committee; Powers and Duties
The State Tax Commissioner, the State Treasurer, and the State Auditor constitute the executive committee of the Municipal Bond Commission. The executive committee is vested with all the powers of the commission when it is not in session, except that the executive committee may not overrule, reverse or disregard any action of the full commission. […]
§13-3-5. Officer and Employee Bonds
The chief administrative officer and the employees designated by the commission shall furnish bonds in such form and in such amounts as the commission shall, from time to time, determine. The costs of such bonds shall be paid by the commission and such bonds shall be filed in the same office as are the bonds […]