Under subtitle A of Public Law 96-499, which is called the "Mortgage Subsidy Bond Tax Act," a subtitle of the "Revenue Adjustments Act of 1980," this state is permitted to issue up to $200,000,000 per year during the three year life of the act. Pursuant to that act, the Legislature hereby authorizes the West Virginia […]
The Housing Development Fund shall cause an annual audit to be made by an independent certified public accountant of its books, accounts, and records, with respect to its receipts, disbursements, contracts, mortgages, leases, assignments, loans, and all other matters relating to its financial operations, including those of the Operating Loan Fund, the Land Development Fund, […]
If any provision of this article or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the article, and to this end the provisions of this article are severable.
No project or business facility acquired, constructed, maintained, or financed in whole or in part by the Housing Development Fund shall be deemed to be a "public improvement" within the meaning of the provisions of article five-a, chapter twenty-one of this code, as a result of such financing.
Any documentary material or data made or received by the Housing Development Fund for the purpose of furnishing assistance, to the extent that such material or data consists of trade secrets, commercial, financial or personal information regarding the financial position or business operation of such business or person, shall not be considered public records and […]
(a) The program set forth in this section shall be known as the "West Virginia Property Rescue Initiative". (b) The Legislature finds that a great number of dilapidated housing structures exist throughout the state and that county and municipal officials often lack the training and resources to identify, purchase, remove, or rehabilitate these structures and […]
Upon termination of the West Virginia Affordable Housing Trust Fund, the Housing Development Fund shall provide for the payment of all debts, obligations, or expenses of the Affordable Housing Trust Fund, and all assets remaining in the Affordable Housing Trust Fund shall be transferred to the West Virginia Housing Development Fund.
As used in this article, unless the context otherwise requires: (1) “Affordable Housing Fund” means the affordable housing fund created and established by the Housing Development Fund in accordance with §31-18-20d of this code.
(a) There is continued as a governmental instrumentality of the State of West Virginia, a public body corporate to be known as the West Virginia Housing Development Fund. (b) The Housing Development Fund is created and established to serve a public corporate purpose and to act for the public benefit and as a governmental instrumentality […]
(a) The management and control of the Housing Development Fund shall be vested solely in the board of directors in accordance with the provisions of this article. (b) The chairman shall be the chief executive officer of the Housing Development Fund, and, in his or her absence, the vice chairman shall act as chief executive […]
The Housing Development Fund is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purpose, including, but not limited to, the following: (1) To make or participate in the making of federally insured construction loans to sponsors of land development, residential housing, or nonresidential projects. Such […]
Notwithstanding any other provision to the contrary, no law limiting interest rates or providing for forfeiture, penalty or other loss or liability because of rate of interest charged shall apply to any loan in a principal amount of more than $100,000 on loans made by the Housing Development Fund in the furtherance of its corporate […]
Except as may otherwise be provided by the Housing Development Fund, every issue of its notes or bonds shall be general obligations of the Housing Development Fund payable out of any revenues or moneys of the Housing Development Fund, subject only to any agreements with the holders of particular notes or bonds pledging any particular […]
The notes and bonds shall be and hereby are made negotiable instruments under the provisions of article eight, chapter forty-six of this code, subject only to the provisions of the notes or bonds for registration, unless otherwise provided by resolution of the Housing Development Fund.
The borrowing of money and the notes and bonds evidencing any such borrowing shall be authorized by resolution approved by the Board of Directors of the Housing Development Fund, shall bear such date or dates, and shall mature at such time or times, in the case of any such note or any renewal thereof, not […]
