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Home » US Law » 2022 West Virginia Code » Chapter 18. Education » Article 12B. Revenue Bonds for State Institutions of Higher Education -- Capital Improvements on System Basis

§18-12B-10. Credit of State Not Pledged

No provisions of this article shall be construed to authorize the board of regents at any time or in any manner to pledge the credit or taxing power of the state, nor shall any of the obligations or debts created by the board under the authority herein granted be deemed to be obligations of the […]

§18-12B-2. State System Tuition Fee Special Capital Improvements Fund in State Treasury; Collections to Be Paid Into Special Fund; Authority of Board of Regents to Pledge Such Collections as Security for Revenue Bonds; Authority of Board to Finance Projects on a Cash Basis

There is created in the State Treasury a state system tuition fee special capital improvements fund to be expended by the board of regents for the benefit of the state institutions of higher education, which shall include any college, university or community college under its supervision, management and control. On and after July 1, 1977, […]

§18-12B-3. Board of Regents to Fix and Collect Fees

The board of regents shall fix, establish, maintain and collect the tuition fees provided for in section one, article twenty-four, chapter eighteen of this code, from students at all state institutions of higher education other than (unless the board of regents shall otherwise determine by resolution) tuition fees from students attending community colleges, in amounts […]

§18-12B-4. Issuance of Revenue Bonds; Use of Proceeds; Bonds Exempt From Taxation

The issuance of revenue bonds under the provisions of this article shall be authorized from time to time by resolution or resolutions of the board of regents, which shall set forth the proposed major renovations, repairs and safety upgrading and capital improvements authorized by section one of this article; and shall provide for the issuance […]

§18-12B-6. Bonds May Be Issued for Combined Purposes

The board of regents may authorize by one or more resolutions a single issue of bonds for the combined purposes of refunding the outstanding bonds as herein authorized and financing one or more of the major renovations, repairs and safety upgrading and capital improvements herein authorized.

§18-12B-7. Bonds Shall Be Negotiable Instruments

The revenue bonds, revenue refunding bonds and bonds issued for combined purposes under the provisions of this article shall, independently of the requirements of any other provision of law and solely by virtue of the provisions of this section, be and have all the qualities and incidents of negotiable instruments.

§18-12B-8. Trust Agreements for Holders of Bonds

The board of regents may enter into an agreement or agreements with any trust company, or with any bank having the powers of a trust company, either within or outside the state, to act as trustee for the holders of bonds issued hereunder, setting forth therein such duties and containing such legally binding covenants of […]

§18-12B-9. Sinking Fund for Payment of Bonds

From the state system tuition fee special capital improvements fund the board of regents shall make periodic payments to the state sinking fund commission in an amount sufficient to meet the requirements of any issue of bonds sold under the provisions of this article, as may be specified in the resolution of the board authorizing […]