§31-15-1. Short Title
This article shall be known and may be cited as "The West Virginia Economic Development Authority Act."
§31-15-10. Approval by Authority
(a) To implement the powers and authority conferred upon it by this article, the board of the authority may adopt a resolution pursuant to which it shall: (1) specify and describe the project;
§31-15-11. Trustee for Bondholders; Contents of Trust Agreement; Pledge or Assignment of Revenues
For bonds or notes issued pursuant to the provisions of this article, in the discretion of the authority, any bonds or notes, including refunding bonds or notes 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 […]
§31-15-12. Use of Funds by Authority; Restrictions Thereon Relating to Projects
All moneys, properties and assets acquired by the authority, whether as proceeds from the sale of bonds or notes or as revenues or otherwise, shall be held by it in trust for the purposes of carrying out its powers and duties and shall be used and reused in accordance with the purposes and provisions of […]
§31-15-12a. Horseshoe Pitcher S Hall of Fame
[Repealed.]
§31-15-12b. Loans to Support Tourism
(a) In order to preserve jobs and support tourism, the Economic Development Authority may make loans, consistent with this section. (b) For purpose of this section an applicant is: (1) A licensed entity that has filed an application for a loan under this section no later than July 1, 2016;
§31-15-13. Refunding Bonds or Notes
Any bonds or notes issued by the authority or any other public body or authority of the state 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 […]
§31-15-14. Obligations of Authority Undertaken Pursuant to This Article Not Debt of State, County, Municipality or Any Political Subdivision
Bonds and notes, including refunding bonds and notes, issued under the authority of this article and any coupons in connection therewith, and any other obligations undertaken by the authority pursuant to this article, shall not constitute a debt or a pledge of the faith and credit or taxing power of this state or of any […]
§31-15-15. Negotiability of Bonds and Notes Issued Pursuant to This Article
Whether or not the bonds or notes issued pursuant to this article are of such form or character as to be negotiable instruments under the Uniform Commercial Code, such bonds or notes are negotiable instruments within the meaning of and for all the purposes of the Uniform Commercial Code, subject only to the provisions of […]
§31-15-16. Bonds and Notes Issued Pursuant to This Article; Legal Investments
The provisions of sections nine and ten, article six, chapter twelve of this code to the contrary notwithstanding, the bonds and notes issued pursuant to the provisions of this article are securities in which all public officers and bodies of this state, including the West Virginia state Board of Investments, all municipalities and other political […]
§31-15-16a. Bonds for Capital Improvements at Institutions of Higher Education, State Parks, the State Capitol Complex, Other State Facilities or Tourism Sites; Limitations; Authority to Issue Revenue Bonds; Use of Funds to Pay for Projects
(a)(1) The economic development authority shall, in accordance with the provisions of this article, issue revenue bonds from time to time, to pay for a portion of the cost of constructing, equipping, improving or maintaining capital improvement projects under this section or to refund the bonds, at the discretion of the authority. The principal amount […]
§31-15-16b. Lottery Revenue Bonds for Cacapon Resort State Park and Beech Fork State Park
(a)(1) The economic development authority shall, in accordance with the provisions of this article, issue revenue bonds, in one or more series, from time to time, to pay for all or a portion of the cost of constructing, equipping, improving or maintaining capital improvement projects under this section or to refund the bonds, at the […]
§31-15-16c. Bonds for County Capital Improvements; Limitations; Authority to Issue Revenue Bonds; Use of Funds to Pay for Projects
(a) The West Virginia Economic Development Authority may, in accordance with the provisions of this article and article twenty seven, chapter seven of this code, issue special revenue bonds from time to time, to pay for a portion of the cost of constructing, equipping, improving or maintaining road projects under article twenty seven, chapter seven […]
§31-15-16d. Lottery Revenue Bonds for State Park Projects
(a)(1) The Economic Development Authority shall, in accordance with the provisions of this article, issue revenue bonds, in one or more series, from time to time, to pay for all or a portion of the cost of constructing, equipping, improving, or maintaining capital improvement projects under this section or to refund the bonds issued for […]
§31-15-17. Exemption From Taxation
The exercise of the powers granted to the authority by this article will be in all respects for the benefit of the people of the state for the improvement of their health, safety, convenience and welfare and is a public purpose. As the operation and maintenance of projects financed under this article will constitute the […]
§31-15-18. Personal Liability; Persons Executing Bonds or Notes Issued Pursuant to This Article
Neither the members or officers of the authority or of any authority, agency or office, nor any person executing the bonds or notes issued pursuant to the provisions of this article, shall be liable personally on such bonds or notes or be subject to any personal liability or accountability by reason of the issuance thereof.
§31-15-19. Cumulative Authority as to Powers Conferred; Applicability of Other Statutes and Charters; Bonds and Notes Issued Pursuant to This Article
The provisions of this article relating to the making of loans and to the issuance of bonds and notes shall be construed as granting cumulative authority for the exercise of the various powers herein conferred, and neither the powers nor any bonds or notes issued hereunder shall be affected or limited by any other statutory […]
§31-15-2. Legislative Findings
It is hereby determined and declared as a matter of legislative finding: (a) That unemployment exists in many areas of the state and may well come about, from time to time, in other areas of the state; (b) that in some areas of the state, unemployment is a serious problem and has been for so […]
§31-15-20. Authority of the Board of Investments
[Repealed].
§31-15-21. Loan and Insurance Application Requirements
Prior to the loaning of any funds to an industrial development agency or an enterprise for a project or the insuring of any bonds, notes, loans or other instruments pursuant to section eight of this article, the authority shall receive from such agency or enterprise an application in such form as adopted by the authority […]