(a) This article may be known and cited as the "State Transportation Infrastructure Fund Program. (b) The Legislature finds and declares that new financing mechanisms will provide greater flexibility and additional funds for needed transportation infrastructure projects in the state. The creation of a financing mechanism, in conformance with the federal State infrastructure bank program, […]
As used in this article, the following words and terms shall have the following meaning: (1) "Capitalized" means depositing funds as initial capital into a State Transportation Infrastructure Fund to establish the infrastructure fund.
(a) There is hereby created in the State Treasury the West Virginia State Transportation Infrastructure Fund. The special fund shall be a revolving fund, to be administered by the commissioner and used for the purposes described in this article. The fund consists of certain federal and state highway funds and other funds eligible for deposit […]
The loans shall be made upon such terms as the commissioner shall determine, including secured and unsecured loans, and in connection with the secured and unsecured loans. The commissioner may enter into loan agreements, subordination agreements and other agreements; accept notes and other forms of obligation to evidence the indebtedness, and mortgages, liens, pledges, assignments […]
It is the function and duty of the Commissioner of Highways to administer and enforce the provisions of this article, and in the performance of duties hereunder, the commissioner may assign to other employees in the department, such duties as he or she may deem proper. The commissioner may propose rules for legislative approval in […]
