§31-19-18. Financial Interests in Contracts Prohibited; Penalty
No officer, member or employee of the authority shall be financially interested, directly or indirectly, in any contract of any person with the authority, or in the sale of any property, real or personal, to or from the authority. This section does not apply to contracts or purchases of property, real or personal, between the […]
§31-19-19. Meetings and Records of Authority to Be Kept Public
All meetings of the authority shall be open to the public and the records of the authority shall be open to public inspection at all reasonable times, except as otherwise provided in this section. All final actions of the authority shall be journalized and such journals shall also be open to the inspection of the […]
§31-19-20. Liberal Construction of Article
The provisions of this article are hereby declared to be remedial and shall be liberally construed to effectuate its purposes and intents.
§31-19-21. Severability
If any section, part or provision of this article or the application thereof to any person or circumstance is held unconstitutional or invalid, such unconstitutionality or invalidity shall not affect any other section, part or provision of this article or its application and to this end the provisions of this article are declared to be […]
§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 […]
§31-19-10. Bonds and Notes Not Debt of State, County, or Municipality; Expenses Incurred Pursuant to Article
Community infrastructure revenue bonds and notes and community infrastructure revenue refunding bonds issued pursuant to this article and any coupons in connection therewith shall not constitute a debt or a pledge of the faith and credit or taxing power of this state or of any county or municipality of the state and the holders or […]
§31-19-11. Use of Funds by Authority; Restrictions Thereon
All moneys, properties and assets acquired by the authority whether as proceeds from the sale of community infrastructure revenue bonds or as revenues or otherwise, shall be held by it in trust for the purposes of carrying out its powers and duties, and shall be used and reused in accordance with the purposes and provisions […]
§31-19-12. Investment of Funds by Authority
Except as otherwise provided in any resolution authorizing the issuance of community infrastructure revenue bonds or in any trust agreement securing the same, the authority is hereby authorized and empowered to invest any funds not needed for immediate disbursement in any of the following securities: (1) Direct obligations of or obligations guaranteed by the United […]
§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 […]