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2017 West Virginia Code
CHAPTER 8. MUNICIPAL CORPORATIONS.
ARTICLE 16. MUNICIPAL PUBLIC WORKS; REVENUE BOND FINANCING.
§8-16-15. How proceeds of bonds applied.
Universal Citation: WV Code § 8-16-15 (2017)
All moneys received from the sale of any bonds issued under the authority of this article, after reimbursements and repayments to said municipality or municipalities of all amounts advanced for preliminary expenses, as provided in section six of this article, shall be applied solely to the payment of the cost of the project, or to the appurtenant sinking fund, and there shall be, and there is hereby, created and granted a lien upon such moneys, until so applied, in favor of the holders of the bonds or the trustees hereinafter provided for.
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