There is a newer version of the West Virginia Code
2010 West Virginia Code
CHAPTER 18. EDUCATION
ARTICLE 27. WEST VIRGINIA EDUCATION LOAN BOND PROGRAM.
§18-27-22. Exercise of powers as essential public function; exemption from taxation.
§18-27-22. Exercise of powers as essential public function;
exemption from taxation. The exercise of the powers granted by this article shall be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of a program by the board or its agent will constitute the performance of an essential public function, neither the board nor its agent shall be required to pay any taxes or assessments, including mortgage recording taxes, upon or in respect of a program, and moneys or any property acquired by, retained by or used by the board or its agents under the provisions of this article and the income therefrom shall at all times be free from taxation of every kind by the state and by the municipalities and other political subdivisions of the state.
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