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West Virginia Code

9D

School Building Authority.

18-9D-1School Building Authority; powers.18-9D-2Definitions.18-9D-3Powers of authority; School Building Authority Fund.18-9D-4School building authority authorized to issue refunding revenue bonds for school building capital improvement projects.18-9D-4aSavings from issuance of refunding bonds.18-9D-4bSchool Building Authority authorized to issue bonds and pay debt service on bonds with funds distributed from State Excess Lottery Fund.18-9D-4cSchool Building Authority authorized to temporarily finance projects through the issuance of loans, notes or other evidences of indebtedness.18-9D-4dEmergency facility and equipment repair or replacement fund for financially distressed counties.18-9D-5School building authority authorized to offer individual higher education savings plans.18-9D-6School Construction Fund in State Treasury; School Building Debt Service Fund in State Treasury; School Improvement Fund in State Treasury; collections to be paid into special funds; Excess Lottery School Building Debt Service Fund in State Treasury; authority to pledge the collections as security for refunding revenue bonds; authority to finance projects on a cash basis.18-9D-7Authority to fix and collect rents.18-9D-8Use of proceeds of bonds; bonds exempt from taxation.18-9D-9Issuance of revenue refunding bonds; use of moneys; power to enter into escrow agreements; call for redemption.18-9D-10Bonds may be issued for combined purposes.18-9D-11Bonds shall be negotiable instruments.18-9D-12Trust agreements for holders of bonds.18-9D-13Payment of bonds.18-9D-14Credit of state not pledged.18-9D-15Legislative intent; allocation of money among categories of projects; lease-purchase options; limitation on time period for expenditure of project allocation; county maintenance budget requirements; project disbursements over period of years; preference for multicounty arrangements; submission of project designs; set-aside to encourage local participation.18-9D-16Authority to establish guidelines and procedures for facilities and major improvement plans; guidelines for modifications and updates, etc.; guidelines for project evaluation; submission of certified list of projects to be funded; department on-site inspection of facilities; enforcement of required changes or additions to project plans.18-9D-17Limitations on contracts for sale of bonds or other securities.18-9D-19Comprehensive high schools.18-9D-19aComprehensive middle schools.18-9D-20Authority to promulgate rules; legislative authorization; effective date of rules; technical deficiencies waived.18-9D-21Authorizing rules of School Building Authority.