§31-18-24. Annual Audit; Reports to Joint Committee on Government and Finance; Information to Joint Committee or Legislative Auditor
The Housing Development Fund shall cause an annual audit to be made by an independent certified public accountant of its books, accounts, and records, with respect to its receipts, disbursements, contracts, mortgages, leases, assignments, loans, and all other matters relating to its financial operations, including those of the Operating Loan Fund, the Land Development Fund, […]
§31-18-25. Severability Clause
If any provision of this article or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the article, and to this end the provisions of this article are severable.
§31-18-26. Projects Not to Be Deemed Public Improvements
No project or business facility acquired, constructed, maintained, or financed in whole or in part by the Housing Development Fund shall be deemed to be a "public improvement" within the meaning of the provisions of article five-a, chapter twenty-one of this code, as a result of such financing.
§31-18-19. Operating Loan Fund
(a) The board of directors of the Housing Development Fund may create and establish a special revolving loan fund of moneys made available by contribution or loan, to be known as the operating loan fund and to be governed, administered and accounted for by the directors, officers and managerial staff of the Housing Development Fund […]
§31-18-20. Authorized Limit on Borrowing
The aggregate principal amount of bonds and notes issued by the Housing Development Fund shall not exceed $1,250,000,000 outstanding at any one time: Provided, That in computing the total amount of bonds and notes which may at any one time be outstanding, the principal amount of any outstanding bonds or notes refunded or to be […]
§31-18-20a. Land Development Fund
(a) The board of directors of the Housing Development Fund may create and establish a special revolving fund of moneys made available by appropriation, grant, contribution or loan, to be known as the land development fund and to be governed, administered and accounted for by the directors, officers and managerial staff of the Housing Development […]
§31-18-12. Validity of Any Pledge, Mortgage, Deed of Trust or Security Instrument
It is the intention hereof that any pledge, mortgage, deed of trust or security instrument made by or for the benefit of the Housing Development Fund, including, but not limited to amounts in the mortgage finance bond insurance fund, shall be valid and binding between the parties from the time the pledge, mortgage, deed of […]
§31-18-13. Redemption of Notes or Bonds
The Housing Development Fund, subject to such agreements with noteholders or bondholders as may then exist, shall have power, out of any funds available therefor, to purchase notes or bonds of the Housing Development Fund. If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then […]
§31-18-14. Disclaimer of Any Liability of State of West Virginia
The state of West Virginia shall not be liable on notes, bonds or other evidences of indebtedness of the Housing Development Fund and such notes, bonds or other evidences of indebtedness shall not be a debt of the State of West Virginia, and such notes, bonds or other evidences of indebtedness shall contain on the […]
§31-18-15. Limitation of Rights Vested in Housing Development Fund by State
The state of West Virginia does hereby pledge to and agree with the holders of any notes or bonds issued under this article, that the state will not limit or alter the rights hereby vested in the Housing Development Fund to fulfill the terms of any agreements made with the holders thereof, or in any […]