2009 West Virginia Code
CHAPTER 13. PUBLIC BONDED INDEBTEDNESS

ARTICLE 1. BOND ISSUES FOR ORIGINAL INDEBTEDNESS. 

• §13-1-1 Political divisions authorized to issue and sell bonds.
• §13-1-1a Exemption from interest rate ceilings.
• §13-1-2 Purposes for which bonds may be issued.
• §13-1-3 Amount and purpose of indebtedness for which bonds may be issued.
• §13-1-4 Bond issue proposal to be submitted to voters; election order.
• §13-1-5 Engineer's estimate.
• §13-1-6 Bonds may be specified for more than one purpose; single or general purpose defined.
• §13-1-6a When proceeds of bond issue specified for one project may be used for another project.
• §13-1-7 When election to be held.
• §13-1-8 Publication of notice of election.
• §13-1-9 Registration of voters.
• §13-1-10 Election precincts.
• §13-1-11 General election laws to apply; recorders and secretaries to act in lieu of circuit clerks.
• §13-1-12 Form of ballot.
• §13-1-13 Time and manner of canvassing returns.
• §13-1-14 Resolution authorizing issuance and fixing terms of bonds.
• §13-1-15 Bonds to be payable in annual or semiannual installments.
• §13-1-15a Bonds may be subject to redemption.
• §13-1-16 Recital of certification that bonds are issued in conformity with constitution and statutes; effect thereof with Attorney General's endorsement.
• §13-1-17 Bonds shall be registered.
• §13-1-18 Repealed
• §13-1-19 Signing, sealing and delivery of bonds.
• §13-1-20 Imposition and collection of tax to pay bonds and interest.
• §13-1-21 Advertisement and sale of bonds.
• §13-1-22 Purposes for which proceeds to be used; purchaser need not see to application thereof.
• §13-1-23 No law, order, ordinance, resolution, proceeding or publication necessary except as prescribed by this article.
• §13-1-24 Legal status of bonds.
• §13-1-25 Copy of proceedings to be transmitted to attorney general for approval or disapproval; publication of approval or disapproval.
• §13-1-26 Review in supreme court of appeals of action of attorney general.
• §13-1-27 Bond issue and tax to pay bonds to be incontestable upon failure to file petition for review or dismissal thereof.
• §13-1-28 Indorsement on bonds by attorney general.
• §13-1-29 Costs of proceedings and expenses of attorney general to be paid out of proceeds of bonds or general fund.
• §13-1-30 Files and records to be kept by attorney general.
• §13-1-31 Proceedings to issue bonds under authority of prior statutes; debts heretofore incurred.
• §;13-1-3 may be increased by special act as to municipalities and independent school districts; bonds for assessments against abutting property excepted from this article.
• §13-1-33 Bonds exempt from taxation.
• §13-1-34 Bonded indebtedness of school districts; annual tax to be levied and collected to pay same; definition of value.
• §13-1-35 Bonded indebtedness of counties, magisterial districts and municipal corporations; levy and collection of taxes to pay same.

ARTICLE 2. REFUNDING BONDS. 

• §13-2-1 What political divisions may issue refunding bonds; when issued.
• §13-2-2 Terms of refunding bonds; time, place and amount of payments.
• §13-2-3 Certain provisions of article one to apply to refunding bonds.
• §13-2-4 Disposition of bonds; cancellation of original bonds.
• §13-2-5 Article sufficient authority for issuing refunding bonds.
• §13-2-6 Issuance without election or notice.
• §13-2-7 Invalidity of part of article not to affect other parts.
• §13-2-8 Bonds exempt from taxation.
• §13-2-9 Funding of orders, drafts or warrants by county courts and boards of education at rate lower than six percent.

ARTICLE 2A. REVENUE BOND REFINANCING 

• §13-2A-1 How article cited.
• §13-2A-2 Definitions.
• §13-2A-3 Purpose of refunding bonds.
• §13-2A-4 Issuance authorized by resolution of governing body.
• §13-2A-5 Form of bonds; interest rates; negotiability.
• §13-2A-6 Validity.
• §13-2A-7 Sale or exchange; deposit and investment of proceeds.
• §13-2A-8 Security for payment; prior issues not impaired.
• §13-2A-9 Payable solely from revenues of enterprise.
• §13-2A-10 Exemption from taxation.
• §13-2A-11 Fiscal agent.
• §13-2A-12 Duties of public body and officers as to bonds and rights of bondholders.
• §13-2A-13 Provisions in resolution authorizing bonds.
• §13-2A-14 Receivership upon default; termination.
• §13-2A-15 Suits by bondholders.
• §13-2A-16 Article complete authority for refunding bonds; liberal construction.

ARTICLE 2B. VALIDATION. 

• §13-2B-1 How article cited.
• §13-2B-2 Definitions.
• §13-2B-3 Prior bond issues validated.
• §13-2B-4 Prior proceedings for pending bond issues validated.

ARTICLE 2C. INDUSTRIAL DEVELOPMENT AND COMMERCIAL DEVELOPMENT BOND ACT. 

• §13-2C-1 Short title.
• §13-2C-2 Legislative findings.
• §13-2C-3 Definitions.
• §13-2C-3a Continuation of industrial revenue bond allocation review committee; appointment, terms of members; voting; expenses; duties.
• §13-2C-4 Powers conferred on counties and municipalities.
• §13-2C-5 Location of industrial projects or commercial projects.
• §13-2C-6 Joint establishment by two or more governmental bodies.
• §13-2C-7 Bonds issued to finance industrial project or commercial project.
• §13-2C-8 Security for bonds.
• §13-2C-9 Requirements respecting lease, sale or financing of an industrial project or commercial project.
• §13-2C-10 Redemption of bonds.
• §13-2C-11 Refunding bonds.
• §13-2C-12 Use of proceeds from sale of bonds.
• §13-2C-13 No contribution by county or municipality.
• §13-2C-14 Bonds made legal investments.
• §13-2C-15 Exemption from taxation.
• §13-2C-16 Construction of article.
• §13-2C-17 No notice, consent or publication required.
• §13-2C-18 Severability.
• §13-2C-19 Public officials exempt from personal liability.
• §13-2C-20 Prohibition of financial interest of public officials.
• §13-2C-21 Ceiling on issuance of private activity bonds; establishing procedure for allocation and disbursements; reservation of funds; limitations; unused allocation; expirations and carryovers.

ARTICLE 2D. AIRPORT DEVELOPMENT BOND ACT. 

• §13-2D-1 Short title.
• §13-2D-2 Legislative finding.
• §13-2D-3 Definitions.
• §13-2D-4 Powers conferred on counties.
• §13-2D-5 Bonds issued to finance airport.
• §13-2D-6 Security for bonds.
• §13-2D-7 Redemption of bonds.
• §13-2D-8 Refunding bonds.
• §13-2D-9 Use of proceeds from sale of bonds.
• §13-2D-10 No contribution by county.
• §13-2D-11 Bonds made legal investments.
• §13-2D-12 Exemption from taxation.
• §13-2D-13 County court may lease appurtenances and facilities.
• §13-2D-14 Construction of article.
• §13-2D-15 No notice, consent or publication required.
• §13-2D-16 Severability.
• §13-2D-17 Public officials exempt from personal liability.
• §13-2D-18 Prohibition of financial interest of public officials.

ARTICLE 2E. REVENUE BOND REFUNDING ACT. 

• §13-2E-1 How article cited.
• §13-2E-2 Definitions.
• §13-2E-3 Authority to refund.
• §13-2E-4 Terms, form and execution of refunding bonds.
• §13-2E-5 Issuance of refunding bonds; application of proceeds.
• §13-2E-6 Determination of governing body to be conclusive.
• §13-2E-7 Authorization for issuance.
• §13-2E-8 Authority for escrow agreement.
• §13-2E-9 Call of revenue bonds for redemption.
• §13-2E-10 Security provisions.
• §13-2E-11 Bonds payable solely from revenues of enterprise.
• §13-2E-12 Tax exemption; exceptions.
• §13-2E-13 Validity of bonds.
• §13-2E-14 Article complete authority for refunding bonds; effect on other laws; liberal construction.
• §13-2E-15 Severability.

ARTICLE 2F. PUBLIC OBLIGATIONS REGISTRATION ACT. 

• §13-2F-1 How article cited.
• §13-2F-2 Purposes; article governs over charter provisions.
• §13-2F-3 Definitions.
• §13-2F-4 Authority to issue public obligations in registered and book entry forms.
• §13-2F-5 Powers of official registrar; designee.
• §13-2F-6 Confidentiality.
• §13-2F-7 Application to public obligations approved by voters.

ARTICLE 2G. STATE REFUNDING BOND ACT. 

• §13-2G-1 Short title.
• §13-2G-2 Definitions.
• §13-2G-3 Issuance of refunding bonds.
• §13-2G-4 Security for refunding bonds.
• §13-2G-5 Principal amount, use of sinking and reserve funds.
• §13-2G-6 Terms of refunding bonds; time, place and amount of payments.
• §13-2G-7 Sale of refunding bonds at above or below par value.
• §13-2G-8 Swap agreements.
• §13-2G-9 Certain provisions of the code or act of Legislature to apply to refunding bonds.
• §13-2G-10 Provision for payment of the bonds to be refunded.
• §13-2G-11 Bonds previously issued by the board of regents.
• §13-2G-12 Article sufficient authority for issuing refunding bonds.
• §13-2G-13 Issuance without election or creation of a new debt.
• §13-2G-14 Bonds exempt from taxation.

ARTICLE 3. MUNICIPAL BOND COMMISSION. 

• §13-3-1 Commission continued.
• §13-3-2 Composition of commission; terms of appointment; vacancies; removal from office.
• §13-3-3 Officers; employees; chief administrative officer; meetings; quorum; compensation and expenses; legal representation.
• §13-3-4 Executive committee; powers and duties.
• §13-3-5 Officer and employee bonds.
• §13-3-5a Costs and expenses; fees for services.
• §13-3-6 Powers and duties of commission.
• §13-3-7 Permissible investments; limitations and prohibitions on purchase, sale or exchange of securities; public records; combining funds and proration of interest; custody of securities.
• §13-3-7a Escrowing bond issues.
• §13-3-8 Notification by issuer of bond sale.
• §13-3-9 Collection, deposit and accounting funds; insufficient deposit; withdrawal of additional funds.
• §13-3-10 Accounts of bond issues; annual statements, canceled bonds and coupons.
• §13-3-11 Statement by commission to political subdivision showing levy required; determination of levy.
• §13-3-12 Destruction of canceled bonds and coupons.
• §13-3-13 Substitute paying agents.
• §13-3-14 Authorizing the transfer and investment of funds raised by levy, sale of bonds or otherwise.
• §13-3-15 Reports of commission.