§31-15A-17a. Infrastructure Revenue Bonds Payable From A. James Manchin Fund
Notwithstanding any other provision of this code to the contrary, the Water Development Authority may issue, in accordance with the provisions of section seventeen of this article, infrastructure revenue bonds payable from the A. James Manchin Fund created by section nine, article fifteen-a, chapter twenty-two of this code and such other sources as may be […]
§31-15A-17b. Infrastructure Lottery Revenue Bonds for Watershed Compliance Projects
(a)(1) The Chesapeake Bay has been identified as an impaired water body due to excessive nutrients entering the bay from various sources in six states, including wastewater facilities in West Virginia. To restore the Chesapeake Bay, the states have agreed to reduce their respective nutrient contributions to the Chesapeake Bay. (2) The Greenbrier River Watershed […]
§31-15A-17c. Critical Needs and Failing Systems Sub Account
Notwithstanding any provision of this article to the contrary: (a) The Water Development Authority shall establish a separate and segregated sub account in the Infrastructure Fund designated the Critical Needs and Failing Systems Sub Account into which the council may instruct the Water Development Authority to transfer from the uncommitted loan balances on June 30 […]
§31-15A-18. Trustee for Holders of Infrastructure Revenue Bonds; Contents of Trust Agreement
(a) Any infrastructure revenue bonds issued by the water development authority under this article shall be secured by a trust agreement between the water development authority and a corporate trustee, which trustee may be any trust company or banking institution having the powers of a trust company within this state. (b) Any trust agreement may […]
§31-15A-19. Legal Remedies of Infrastructure Revenue Bondholders or Noteholders and Trustees
Any holder of infrastructure revenue bonds issued pursuant to this article and the trustee under any trust agreement, except to the extent the rights given by this article may be restricted by the applicable resolution or trust agreement, may by civil action, mandamus or other proceedings protect and enforce any rights granted under the laws […]
§31-15A-20. Infrastructure Revenue Bonds Lawful Investments
All infrastructure revenue bonds issued pursuant to this article shall be lawful investments for banking institutions, societies for savings, building and loan associations, savings and loan associations, deposit guarantee associations, trust companies, and insurance companies, including domestic for life and domestic not for life insurance companies.
§31-15A-21. Purchase and Cancellation of Infrastructure Revenue Bonds
(a) The water development authority, subject to such agreements with noteholders or bondholders as may then exist, shall have the power, from any funds available therefor, to purchase or redeem infrastructure revenue bonds of the water development authority. (b) If the infrastructure revenue bonds are then redeemable, the price of the purchase shall not exceed […]
§31-15A-22. Refunding Revenue Bonds
Any infrastructure revenue bonds issued pursuant to the provisions of this article and at any time outstanding may at any time and from time to time be refunded by the water development authority by the issuance of its refunding revenue bonds in an amount it deems necessary to refund the principal of the bonds to […]
§31-15A-23. Infrastructure Revenue Bonds Not Debt of State, County, Municipality or Any Political Subdivision
Infrastructure revenue bonds issued pursuant to the provisions of this article 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. The holders or owners thereof shall have no right to have taxes […]
§31-15A-24. Infrastructure Revenue Bonds Exempt From Taxation
The exercise of the powers granted to the water development 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 for the enhancement of their residential, agricultural, recreational, economic, commercial and industrial opportunities and is for […]