§4-11A-14. Exemption From Purchasing Provisions
The provisions of article three, chapter five-a of this code shall not apply to the authority with respect to contracts entered into by the authority in carrying out the public and essential governmental functions set forth in this article and are exempt from the laws of the state which provide for competitive bids and hearings […]
§4-11A-15. Bankruptcy
Notwithstanding any other provision of law, the authority is not authorized, and no governmental officer or organization shall authorize the authority to become a debtor in a case under the United States bankruptcy code, Title 11 of the United States Code, to make an assignment for the benefit of creditors or to become the subject […]
§4-11A-16. Dissolution of the Authority; Distribution of Assets
The authority shall dissolve not sooner than three hundred sixty-six days after it no longer has any bonds outstanding and no later than two years from the date of final payment of all outstanding bonds and the satisfaction of all outstanding obligations of the authority, except to the extent necessary to remain in existence to […]
§4-11A-17. Construction
This article, being considered necessary for the welfare of the state and its people, shall be liberally construed to affect its purpose.
§4-11A-18. Dedication of Personal Income Tax Proceeds as Replacement Moneys for Anticipated Tobacco Master Settlement Agreement Proceeds to the Old Fund
(a) There is hereby dedicated an annual amount of $50,400,000 from annual collections of the tax imposed by article twenty-one, chapter eleven of this code as a portion of the revenue source dedicated to satisfy the Old Fund liabilities as they occur to provide a dollar for dollar replacement of the first $30 million received […]
§4-11A-6. Creation of Tobacco Settlement Finance Authority
(a) The Tobacco Settlement Finance Authority is hereby created and constitutes a body corporate and politic, constituting a public corporation and government instrumentality of the state and the exercise of its powers pursuant to this article is an essential governmental function. (b) The authority shall not create any obligation of this state or any political […]
§4-11A-7. Definitions
Unless the context clearly indicates otherwise, as used in this article: (a) "Authority" means the Tobacco Settlement Finance Authority created in this article. (b) "Board" means the governing board of the authority. (c) "Bonds" means bonds, notes and other obligations and financing arrangements issued or entered into by the authority pursuant to this article. (d) […]
§4-11A-8. Governing Board
(a) The powers of the authority are vested in and shall be exercised by a board of five individuals, consisting of the Secretary of the Department of Administration, who shall act as chairperson, the Treasurer of the State of West Virginia, and three individuals, each appointed by the Governor, who shall have skill and experience […]
§4-11A-9. Staff; Assistance by State Officers, Agencies and Departments
(a) The Secretary of the Department of Administration shall furnish to the authority any secretarial, clerical, technical, research and other services that are necessary to the conduct of the business of the authority. (b) State officers, agencies and departments may render services to the authority within their respective functions, as requested by the authority.
§4-11A-10. Limitation of Liability
Members of the board and persons acting on the authority's behalf, while acting within the scope of their employment or agency, are not subject to personal liability resulting from carrying out the powers and duties conferred on them under this article.