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Home » US Law » 2022 West Virginia Code » Chapter 31. Corporations » Article 20. West Virginia Regional Jail and Correctional Facility Authority

§31-20-16. Disclaimer of Any Liability of State of West Virginia

The state of West Virginia shall not be liable on notes, security interests or bonds or other evidences of indebtedness of the authority and such notes, security interests or bonds or other evidences of indebtedness shall not be a debt of the State of West Virginia, and such notes, security interests or bonds or other […]

§31-20-17. Default in Payment of Principal or Interest

In the event the authority shall default in the payment of principal of or interest on any issue of its notes, security interests or bonds after they become due, whether at maturity or upon call for redemption, and such default continues for a period of thirty days, or in the event the authority fails or […]

§31-20-18. Investment in Notes, Security Interests and Bonds

The notes, security interests and bonds of the authority are hereby made securities in which the state Board of Investments, all insurance companies and associations and other persons carrying on an insurance business, all banking institutions, trust companies, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking […]

§31-20-19. Tax Exemption

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 safety, convenience and welfare. Since the operation and maintenance of correctional facilities and correctional facility industries projects will constitute the performance of essential governmental […]

§31-20-26. Legislative Oversight Committee

The President of the Senate and the Speaker of the House of Delegates shall each designate five members of their respective houses, at least one of whom shall be a member of the minority party, to serve on a Legislative Oversight committee charged with immediate and ongoing oversight of the authority and the commissions, and […]