§7-27-1. Short Title
This article shall be known as the "Letting Our Counties Act Locally Act.”
§7-27-10. Amendment of Road Construction Project Plan
(a) General. – A road construction project plan adopted by order of the county commission may be amended by the county commission at any time to add one or more projects, delete one or more projects, or redesignate the order in which projects are to be completed as funds become available. (b) Procedure to amend […]
§7-27-11. Termination of Road Construction Project Plan
(a) General. – No road construction project plan may be in existence for a period longer than thirty years, except as otherwise provided in this section, and no revenue bond secured by collections of the taxes imposed by a county commission may have a final maturity date more than thirty years after date of issuance […]
§7-27-12. Order Adopting Road Construction Project Plan or Plan Amendment
§7-27-12. Order adopting road construction project plan or plan amendment. Upon approval of a road construction project plan or an amendment to an existing project plan by the Commissioner of Highways, and approval of the voters in the referendum provided in section nine of this article, the county commission shall enter an order that: (1) […]
§7-27-13. Joint Road Construction Projects
(a) The Legislature hereby finds and declares that the citizens of the state would benefit from coordinated road construction efforts by county commissions funded by county transportation sales and use taxes imposed pursuant to this article. (b) Notwithstanding any other section of this code to the contrary, any two or more county commissions may contract […]
§7-27-14. Creation of County Road Improvement Account
(a) Account created. – There is hereby created in the State Treasury a Special Revenue Revolving Fund account known as the "County Road Improvement Account” which is an interest-bearing account that shall be invested in the manner described in section nine-c, article six, chapter twelve of this code, with the interest income a proper credit […]
§7-27-15. Cash Basis Projects; Issuance of Road Construction Special Revenue Bonds by West Virginia Economic Development Authority
(a) Cash basis projects. – Each county commission that has a subaccount in the County Road Improvement Account established pursuant to this article may, in its discretion and pursuant to an intergovernmental written agreement with the county commission, authorize the Commissioner of Highways to use the moneys in its subaccount to finance the costs of […]
§7-27-16. Commissioner's Authority Over Road Construction Projects Accepted Into the State Road System; Use of State Road Funds
(a) Notwithstanding anything in this article to the contrary, the Commissioner of Highways has final approval of any road construction project. However, no state road funds may be used, singly or together with funds from any other source, for any purpose or in any manner contrary to or prohibited by the Constitution and laws of […]
§7-27-17. Qualifying a Transportation Project as a Public Improvement
All road construction projects authorized under this article are public improvements subject to article one-c, chapter twenty-one of this code, and either article twenty-two, chapter five of this code or article two-d, chapter seventeen of this code.
§7-27-18. Reports by Commissioner of Highways
Each year, the Commissioner of Highways shall prepare a report giving the status of each road construction project being constructed pursuant to this article and file it by October 1 with the Governor, the Joint Committee on Government and Finance of the Legislature and with each county commission with which the Commissioner of Highways has […]
§7-27-19. Issuance of County Road Construction Special Revenue Bonds
§7-27-19. Issuance of county road construction special revenue bonds. Special revenue bonds may be issued by the West Virginia Economic Development Authority pursuant to an intergovernmental written agreement between the county commission and the Commissioner of Highways to finance or refinance, in whole or in part, road construction projects in an aggregate principal amount not […]
§7-27-2. Purpose and Findings
(a) The Legislature hereby makes the following findings: (1) Roads maintained by the Department of Transportation include:
§7-27-20. Trustee for Bondholders; Contents of Trust Agreement; Pledge or Assignment of Revenues and Funds
For bonds issued pursuant to this article, any bonds, including refunding bonds issued by the Authority, may be secured by a trust agreement between the Authority and a corporate trustee, which trustee may be any bank or trust company within or without the state. Any such trust agreement may contain binding covenants with the holders […]
§7-27-21. Refunding Bonds
Any bonds issued by the West Virginia Economic Development Authority pursuant to the provisions of this article or any other provision of this code 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 […]
§7-27-22. Obligations of the West Virginia Economic Development Authority Undertaken Pursuant to This Article Not Debt of State, County, Municipality or Any Political Subdivision
(a) Bonds, including refunding bonds, issued under this article and any other obligations undertaken by the West Virginia Economic Development Authority pursuant to this article, do not constitute a debt or a pledge of the faith and credit or taxing power of this state or of any county, municipality or any other political subdivision of […]
§7-27-23. Negotiability of Bonds Issued Pursuant to This Article
hether or not the bonds issued pursuant to this article are of the form or character as to be negotiable instruments under the Uniform Commercial Code, the bonds are negotiable instruments within the meaning of and for all the purposes of the Uniform Commercial Code, subject only to the provisions of the bonds for registration.
§7-27-24. Exemption From Taxation
All bonds issued by the Authority pursuant to this article, and all interest and income thereon, are exempt from all taxation by this state and any county, municipality, political subdivision or agency thereof, except inheritance taxes.
§7-27-25. Personal Liability; Persons Executing Bonds Issued Pursuant to This Article
Neither the West Virginia Economic Development Authority, nor any officer or employee of the West Virginia Economic Development Authority, or any person executing the bonds issued pursuant to the provisions of this article, are liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance thereof.
§7-27-26. Cumulative Authority as to Powers Conferred; Applicability of Other Statutes and Charters; Bonds Issued Pursuant to This Article
The provisions of this article relating to the issuance of bonds shall be construed as granting cumulative authority for the exercise of the various powers herein conferred, and neither the powers nor any bonds issued hereunder are affected or limited by any other statutory or charter provision now or hereafter in force, other than as […]
§7-27-27. Criteria and Requirements Necessary to Impose County Transportation Sales and Use Taxes
§7-27-27. Criteria and requirements necessary to impose county transportation sales and use taxes. As a prerequisite to imposing county transportation sales and use taxes, the county commission shall have entered into one or more intergovernmental agreements with the Commissioner of Highways pursuant to which the county commission agrees to finance one or more road construction […]