West Virginia Economic Development Authority. | Midpage

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West Virginia Code

15

West Virginia Economic Development Authority.

31-15-1Short title.31-15-2Legislative findings.31-15-3Purposes of article.31-15-3aWest Virginia industry and jobs development corporation abolished; establishment of economic development authority as successor to corporation.31-15-4Definitions.31-15-5West Virginia economic development authority; composition; appointment; terms; delegation of authority by chairman; voting; compensation and expenses.31-15-6General powers of authority.31-15-6aSpecial power of authority to transfer funds; limitations; fund created; use of funds to provide customized job training program by Governor's office of economic and community development.31-15-6bSpecial power of authority to issue bonds or notes to repay and refinance capital investment of Investment Management Board in Regional Jail and Correctional Facility Authority; authorizing issuance of bonds to finance regional jail facilities, correctional facilities, juvenile facilities and state police facilities.31-15-6cNeighborhood Housing and Economic Development Stabilization Program; authority to contract with Housing Development Fund; funding.31-15-7Loans to industrial development agencies or enterprises for projects.31-15-8Insurance fund.31-15-8aBroadband Loan Insurance Program; requirements.31-15-8bFacilitation of the State Parks Enhancement Loan Insurance Program.31-15-9Bonds and notes issued pursuant to this article.31-15-10Approval by authority.31-15-11Trustee for bondholders; contents of trust agreement; pledge or assignment of revenues.31-15-12Use of funds by authority; restrictions thereon relating to projects.31-15-12aHorseshoe pitcher’s hall of fame.31-15-12bLoans to support tourism.31-15-13Refunding bonds or notes.31-15-14Obligations of authority undertaken pursuant to this article not debt of state, county, municipality or any political subdivision.31-15-15Negotiability of bonds and notes issued pursuant to this article.31-15-16Bonds and notes issued pursuant to this article; legal investments.31-15-16aBonds for capital improvements at institutions of higher education, state parks, the State Capitol complex, other state facilities or tourism sites; limitations; authority to issue revenue bonds; use of funds to pay for projects.31-15-16bLottery revenue bonds for Cacapon Resort State Park and Beech Fork State Park.31-15-16cW. Va. Code § 31-15-16c 31-15-16dLottery revenue bonds for state park projects.31-15-17Exemption from taxation.31-15-18Personal liability; persons executing bonds or notes issued pursuant to this article.31-15-19Cumulative authority as to powers conferred; applicability of other statutes and charters; bonds and notes issued pursuant to this article.31-15-20Authority of the Board of Investments.31-15-21Loan and insurance application requirements.31-15-22Documentary materials concerning trade secrets; commercial or financial information; or confidentiality.31-15-23Economic development fund.31-15-23aEconomic Development Project Fund.31-15-24Transfer of state property to the authority.31-15-25Validity of any pledge, mortgage, deed of trust or security instrument.31-15-26Money of the authority.31-15-27Conflict of interest; when contracts void.31-15-28Agreement with federal agencies not to alter or limit powers of authority.31-15-29Audits.31-15-30Projects not to be considered public improvements.31-15-31Foreign trade zones; authority approval.31-15-32Severability.31-15-33Construction.