§31-20-16. Disclaimer of Any Liability of State of West Virginia
The state of West Virginia shall not be liable on notes, security interests or bonds or other evidences of indebtedness of the authority and such notes, security interests or bonds or other evidences of indebtedness shall not be a debt of the State of West Virginia, and such notes, security interests or bonds or other […]
§31-19-13. Reports by Authority to Governor and Legislature
As soon as possible after the close of each fiscal year, the authority shall make an annual report of its activities for the preceding fiscal year to the Governor and the Legislature. Each such report shall set forth a complete operating and financial statement covering the authority's operations during the preceding fiscal year. The authority […]
§31-19-14. Community Infrastructure Bonds Lawful Investments
The provisions of sections nine and ten, article six, chapter twelve of this code to the contrary notwithstanding all community infrastructure revenue bonds issued pursuant to this article shall be lawful investments for the West Virginia state Board of Investments and shall also be lawful investments for banking institutions, societies for savings, building and loan […]
§31-19-15. 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 notes or bonds of the authority. If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then applicable plus accrued interest […]
§31-19-16. 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; […]
§31-19-3. Definitions
As used in this article, unless the context clearly requires a different meaning: (1) "Authority" means the West Virginia community infrastructure authority created in section four of this article, the duties, powers, responsibilities and functions of which are specified in this article.
§31-19-4. West Virginia Community Infrastructure Authority Created; West Virginia Community Infrastructure Board Created; Organization of Authority and Board; Appointment of Board Members; Their Term of Office, Compensation and Expenses; Duties and Responsibilities of Director and Staff of Authority
(a) There is hereby created the West Virginia Community Infrastructure Authority. The authority is a governmental instrumentality of the state and a body corporate. The exercise by the authority of the powers conferred by this article and the carrying out of its purposes and duties are essential governmental functions and for a public purpose. The […]
§31-19-5. Authority May Finance Community Infrastructure Projects; Loans to or Bond Purchases From Counties and Municipalities Shall Be Subject to Terms of Loan or Bond Purchase Agreements
To accomplish the public policies and purposes and to meet the responsibility of the state as set forth in this article, the West Virginia community infrastructure authority may make loans to counties and municipalities for the acquisition, renovation, repair or construction of community infrastructure projects by such counties and municipalities, and may issue community infrastructure […]
§31-19-6. Powers, Duties and Responsibilities of the Authority Generally
The West Virginia community infrastructure authority is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purpose. The authority shall have the power and capacity to: (1) Adopt, and from time to time, amend and repeal bylaws necessary and proper for the regulation of its affairs […]
§31-19-7. Authority Empowered to Issue Community Infrastructure Revenue Bonds, Renewal Notes and Refunding Bonds; Requirements and Manner of Such Issuance
The authority is hereby empowered to issue from time to time community infrastructure revenue bonds and notes of the state in such principal amounts as the authority deems necessary to make loans to or bond purchases from counties and municipalities for one or more community infrastructure projects. The authority may, from time to time, issue […]