§31-18C-10. Veterans' Loan Payments Used to Pay Bonds and Interest; Investment of Remainder
(a) There shall be paid into the general account in the veterans' mortgage fund all money from any and all loan payments made by veterans under the terms of the loans for the purpose of paying the interest on and principal of such bonds and from any other source whatsoever which is made liable by […]
§31-18C-11. Sale by Governor; Minimum Price
The Governor shall sell the bonds herein authorized at such time or times as he may determine necessary to provide funds for the making or purchase of loans, as herein provided, and after consultation with the Housing Development Fund regarding the status and requirements of the program and subject to the limitations contained in this […]
§31-18C-12. Auditor to Be Custodian of Unsold Bonds
The State Auditor shall be the custodian of all unsold bonds issued pursuant to the provisions of this article.
§31-18C-13. Bond Counsel and Financial Advisor
The Governor shall designate the bond counsel responsible for the issuance of a final approving opinion regarding the legality of the sale of such bonds and may at his discretion designate a financial advisor to the Governor for the issuance and sale of such bonds.
§31-18C-14. Approval and Payment of All Necessary Expenses
All necessary expenses, including legal expenses incurred in the execution of this article, to the extent such expenses are not otherwise paid out of the veterans' mortgage fund, shall be paid out of the General Fund of the state on warrants of the Auditor of the state drawn on the State Treasurer.
§31-18C-15. Administration of Veterans' Mortgage Fund Program by West Virginia Housing Development Fund
The program shall be administered by the West Virginia Housing Development Fund.
§31-18C-16. Powers and Duties of Housing Development Fund Regarding Veterans' Mortgage Fund
The West Virginia Housing Development Fund is hereby authorized and empowered: (a) To make available the moneys from the veterans' mortgage fund for the making or purchase of loans in the name of and on behalf of the state; (b) To make and execute contracts, including contracts for the purchase of bond or pool insurance, […]
§31-18C-17. Terms and Conditions of Loans From Veterans' Mortgage Fund
No loans shall be made or acquired by the Housing Development Fund except loans to veterans who meet reasonable criteria of creditworthiness as defined by the Housing Development Fund and in accordance with the following terms and conditions, among other terms and conditions which the Housing Development Fund shall require that: (a) No loan shall […]
§31-18C-18. Prohibition of Funds Inuring to the Benefit of or Being Distributable to the Directors or Officers
No part of the funds of the veterans' mortgage fund shall inure to the benefit of or be distributable to the directors or officers of the Housing Development Fund or other private persons except that the Housing Development Fund shall be authorized and empowered to pay reasonable compensation for services rendered, and to make loans […]
§31-18C-19. Annual Audit
The Housing Development Fund shall cause an annual audit to be made by an independent certified public accountant of the books, accounts and records of the program, and with respect to the receipts, disbursements, contracts, mortgages or deeds of trust, assignments, loans and all other matters relating to its operation of the program. The person, […]