§5B-7-1. Definitions
Unless the context clearly indicates otherwise, as used in this article: (1) "Economic Development Authority" or "authority" means the West Virginia Economic Development Authority as continued in section five, article fifteen, chapter thirty-one of this code.
§5B-7-2. Allocation of Volume Cap for Recovery Zone Bonds; Obligations Not Debt of State
Pursuant to 26 U.S.C. §1400U-1(a)(3)(A), the State of West Virginia shall allocate the volume cap among the counties of the state in the same manner as described in Section 6.04 of Internal Revenue Service Notice 2009-50. Bonds, notes and other obligations issued pursuant to this article shall not constitute a debt or a pledge of […]
§5B-7-3. Certification and Waiver of Volume Cap Allocation
(a) Preliminary certification. — (1) Each county allocated volume cap in accordance with this article shall submit a preliminary certification to the Governor that includes:
§5B-7-4. Reallocation of Volume Cap
(a) The Economic Development Authority shall reallocate volume cap that has been waived pursuant to this article. The authority may reallocate the volume cap to the state, state agencies, counties, municipalities or any other political subdivisions or any other eligible issuer authorized to issue recovery zone bonds pursuant to Section 5.04 of Internal Revenue Service […]
§5B-7-5. Suballocation of Volume Cap by Counties; Counties Authorized to Take Action to Issue Recovery Zone Bonds
Counties allocated volume cap pursuant to this article may, by order, ordinance or resolution of the county commission, suballocate such allocation to municipalities or any other eligible issuers authorized to issue recovery zone bonds pursuant to Section 5.04 of Internal Revenue Service Notice 2009-50. Each county that suballocates volume cap shall attach a copy of […]