§16-29A-1. Short Title
This article shall be known and may be cited as the "West Virginia Hospital Finance Authority Act."
§16-29A-10. Security for Bonds and Notes
A resolution authorizing the issuance of bonds or notes under this article may provide that the principal of an interest on the bonds or notes issued shall be secured by a lien on any or all of the fees and charges made or received, or to be received, by the authority from the hospital in […]
§16-29A-11. Enforcement of Payment and Validity of Bonds and Notes
(a) The provisions of this article and any resolution, indenture, deed of trust or security agreement shall continue in effect until the principal of and interest on the bonds or notes of the authority have been fully paid, and the duties of the authority under this article and any resolution, indenture, deed of trust or […]
§16-29A-12. Pledges; Time; Liens; Recordation
Any pledge made by the authority shall be valid and binding from the time the pledge is made. The money or property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act. The lien of any such pledge shall […]
§16-29A-13. Refunding Bonds
Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by the authority by the issuance of its refunding bonds in such amount as it may deem necessary to refund the principal of the bonds so to be refunded, together with any unpaid interest thereon; […]
§16-29A-14. Purchase and Cancellation of Notes or Bonds
The authority, subject to such agreements with noteholders or bondholders as may then exist, shall have power, out of any funds available therefor, to purchase bonds, including refunding bonds, or notes of the authority. If the bonds or notes are then redeemable, the price of such purchase shall not exceed the redemption price then applicable […]
§16-29A-15. Vested Rights; Impairment
The state pledges and agrees with the holders of any bonds or notes issued under this article that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of the holders […]
§16-29A-16. Bonds and Notes Not Debt of State, County, Municipality or Any Political Subdivision; Expenses Incurred Pursuant to Article
Bonds, including refunding bonds, and notes issued under the authority of this article and any coupons in connection therewith shall not constitute a debt or a pledge of the faith and credit or taxing power of this state or of any county, municipality or any other political subdivision of this state, and the holders and […]
§16-29A-17. Negotiability of Bonds and Notes
Whether or not the bonds or notes are of such form or character as to be negotiable instruments under the uniform commercial code, the bonds or notes authorized to be issued by this article are negotiable instruments within the meaning of and for all the purposes of the uniform commercial code, subject only to the […]
§16-29A-18. Bonds and Notes Legal Investments
The provisions of sections nine and ten, article six, chapter twelve of this code to the contrary notwithstanding, the bonds and notes of the authority are securities in which all public officers and bodies of this state, including the West Virginia state Board of Investments, all municipalities and other political subdivisions of this state, all […]
§16-29A-19. Exemption From Taxation
The exercise of the powers granted to the authority by this article will be in all respects for the benefit of the people of the state, for the improvement of their health, safety, convenience and welfare and is a public purpose. As the operation and maintenance of hospital facilities will constitute the performance of essential […]
§16-29A-2. Declaration of Policy and Responsibility; Purpose and Intent of Article; Findings
It is hereby declared to be the public policy of the State of West Virginia and a responsibility of the State of West Virginia, for the benefit of the people of the state and the improvement of their health, welfare and living conditions, to provide hospitals with appropriate means at reasonable cost to maintain, expand, […]
§16-29A-20. Certificate of Need
Before the authority makes a hospital loan to any hospital, and as a condition precedent to the authority's making any such hospital loan, a certificate of need shall be obtained pursuant to article two-d of this chapter, or a determination shall be secured from the agency issuing the certificate of need that a certificate is […]
§16-29A-21. Nondiscrimination; Hospital Facilities
The authority shall require that use of hospital facilities assisted under this article shall be open to all regardless of race, religion, sex or creed, and that contractors and subcontractors engage in the construction or alteration of such hospital facilities shall provide an equal opportunity for employment, without discrimination as to race, religion, sex or […]
§16-29A-22. Personal Liability; Persons Executing Bonds or Notes
Neither the members of officers of the board nor officers or employees of the authority nor any person executing the bonds or notes shall be liable personally on the bonds or notes or be subject to any personal liability or accountability by reason of the issuance thereof.
§16-29A-23. Financial Interest in Contracts Prohibited; Penalty
No officer, member or employee of the board or the authority shall be financially interested, directly or indirectly, in any contract of any person with the authority, or in the sale of any property, real or personal, to or from the authority. This section does not apply to contracts or purchases of property, real or […]
§16-29A-24. Meetings and Records of Authority to Be Kept Public
All meetings of the authority shall be open to the public, and the records of the authority shall be open to public inspection at all reasonable times, except as otherwise provided in this section. All final actions of the authority shall be journalized, and such journal shall also be open to the inspection of the […]
§16-29A-25. Cumulative Authority as to Powers Conferred; Applicability of Other Statutes and Charters
This article shall be construed as granting cumulative authority for the exercise of the various powers herein conferred, and neither the powers nor any bonds or notes issued hereunder shall be affected or limited by any other statutory or charter provision now or hereafter in force, other than as may be provided in this article, […]
§16-29A-26. Liberal Construction
This article, being necessary for and to secure the public health, safety, convenience and welfare of the citizens of the state, shall be liberally construed to effect the public purposes hereof.
§16-29A-3. Definitions
As used in this article, unless the context clearly requires a different meaning: (1) "Authority" means the West Virginia Hospital Finance Authority created by section four of this article, the duties, powers, responsibilities and functions of which are specified in this article;