§18-9D-15. Legislative Intent; Allocation of Money Among Categories of Projects; Lease-Purchase Options; Limitation on Time Period for Expenditure of Project Allocation; County Maintenance Budget Requirements; Project Disbursements Over Period of Years; Preference for Multicounty Arrangements; Submission of Project Designs; Set-Aside to Encourage Local Participation; Local Bond Levies
(a) It is the intent of the Legislature to empower the School Building Authority to facilitate and provide state funds and to administer all federal funds provided for the construction and major improvement of school facilities so as to meet the educational needs of the people of this state in an efficient and economical manner. […]
§18-9D-16. Authority to Establish Guidelines and Procedures for Facilities and Major Improvement Plans; Guidelines for Modifications and Updates, etc.; Guidelines for Project Evaluation; Submission of Certified List of Projects to Be Funded; Department On-Site Inspection of Facilities; Enforcement of Required Changes or Additions to Project Plans
(a) The authority shall establish guidelines and procedures to promote the intent and purposes of this article and assure the prudent and resourceful expenditure of state funds for projects under this article including, but not limited to, the following: (1) Guidelines and procedures for the facilities plans, school major improvement plans and projects submitted in […]
§18-9D-17. Limitations on Contracts for Sale of Bonds or Other Securities
Parliamentarian's NOTE: In a mandamus proceeding, the Supreme Court of the state declined to issue a writ of mandamus and held that this act violated Section 4, Article X of the Constitution. (State ex rel. Marockie v. Wagoner (1993), 190 W.Va. 467, 438 S.E. 2d 811).
§18-9D-8. Use of Proceeds of Bonds; Bonds Exempt From Taxation
(a) The maximum aggregate amount of bonds outstanding at any time, for which the moneys in the School Building Debt Service Fund or the Excess Lottery School Building Debt Service Fund are to be pledged, is $500 million; however, any amount of bonds for which moneys have been deposited in a sinking fund, reserve fund […]
§18-9D-2. Definitions
For the purposes of this article, unless a different meaning clearly appears from the context: (1) "Authority" means the School Building Authority of West Virginia;
§18-9D-3. Powers of Authority; School Building Authority Fund
(a) The School Building Authority has the power: (1) To sue and be sued, plead and be impleaded;
§18-9D-4. School Building Authority Authorized to Issue Refunding Revenue Bonds And/or General Obligation Bonds for School Building Capital Improvement Projects
(a) The School Building Authority may by resolution, in accordance with the provisions of this article, issue revenue bonds of the authority from time to time, either to finance the cost of construction projects for public schools in this state, or to refund, at the discretion of the authority, bonds issued to finance the cost […]
§18-9D-4a. Savings From Issuance of Refunding Bonds
Any aggregate savings resulting from the issuance of refunding bonds pursuant to section four of this article shall be retained by the School Building Authority. Any savings shall be utilized solely for the construction and maintenance of schools and may not be used to fund administrative costs of the authority.
§18-9D-4b. School Building Authority Authorized to Issue Bonds and Pay Debt Service on Bonds With Funds Distributed From State Excess Lottery Fund
The School Building Authority is expressly authorized to issue bonds and pay debt service on bonds pursuant to the provisions of this article with funds distributed from the State Excess Lottery Fund under section eighteen-a, article twenty-two, chapter twenty-nine of this code and deposited into the Excess Lottery School Building Debt Service Fund and any […]
§18-9D-4c. School Building Authority Authorized to Temporarily Finance Projects Through the Issuance of Loans, Notes or Other Evidences of Indebtedness
The School Building Authority may by resolution, in accordance with the provisions of this article, temporarily finance the cost of projects and other expenditures permitted under this article for public schools, including, but not limited to, comprehensive high schools and comprehensive middle schools as defined in this article, in this state through the issuance of […]