W. Va. Code § 22C-1-1
Short title
This article shall be known and cited as the "Water Development Authority Act."
West Virginia Code Chapter 22C — Environmental Resources; Boards, Authorities, Commissions and Compacts
West Virginia · statute · W. Va. Code ch. 22C · 164 active provisions
Provisions
W. Va. Code § 22C-1-2
Declaration of policy and responsibility; purpose and intent of article; findings
It is hereby declared to be the public policy of the State of West Virginia and a responsibility of the State of West Virginia, through the establishment, funding, operation and maintenance of water development projects, to maintain, preserve, protect, conserve and in all instances possible to improve the purity and qu…
W. Va. Code § 22C-1-3
Definitions
As used in this article, unless the context clearly requires a different meaning: (1) "Authority" means the Water Development Authority provided for in section four of this article, the duties, powers, responsibilities and functions of which are specified in this article. (2) "Beneficial use" means a use of water by a…
W. Va. Code § 22C-1-4
Water Development Authority; Water Development Board; organization of authority and board; appointment of board members; their term of office, compensation and expenses; Director of Authority; compensation
(a) The Water Development Authority is continued. The authority is a governmental instrumentality of the state and a body corporate. The exercise by the authority of the powers conferred by this article and the carrying out of its purposes and duties are essential governmental functions and for a public purpose. (b) Th…
W. Va. Code § 22C-1-5
Authority may construct, finance, maintain, etc., water development projects; loans to governmental agencies are subject to terms of loan agreements
To accomplish the public policies and purposes and to meet the responsibility of the state as set forth in this article, the water development authority may initiate, acquire, construct, maintain, repair and operate water development projects or cause the same to be operated pursuant to a lease, sublease or agreement w…
W. Va. Code § 22C-1-6
Powers, duties, and responsibilities of authority generally
The Water Development Authority has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purpose. The authority has the power and capacity to: (1) Adopt and, from time-to-time, amend and repeal bylaws necessary and proper for the regulation of its affairs and the conduct of its…
W. Va. Code § 22C-1-6a
Additional powers of the West Virginia Water Development Authority; Creation of Economic Enhancement Grant Fund
(a) The Water Development Authority shall create and establish a special fund of moneys made available by appropriations, grants, contributions or other sources to be known as the West Virginia Economic Enhancement Grant Fund. This fund shall be governed, administered and accounted for by the directors, officers and ma…
W. Va. Code § 22C-1-7
Power of authority to collect service charges and exercise other powers of governmental agencies in event of default; power to require governmental agencies to enforce their rights
In order to ensure that the public purposes to be served by the authority may be properly carried out and in order to assure the timely payment to the authority of all sums due and owing under loan agreements with governmental agencies, as referred to in section five of this article, notwithstanding any provision to th…
W. Va. Code § 22C-1-8
Expenditure of funds for study and engineering of proposed projects
With the approval and the consent of the board, either the director of the Division of Environmental Protection or the commissioner of the bureau of public health, or both of them, shall expend, out of any funds available for the purpose, such moneys as are necessary for the study of any proposed water development proj…
W. Va. Code § 22C-1-9
Authority empowered to issue water development revenue bonds, renewal notes and refunding bonds; requirements and manner of such issuance
The authority is hereby empowered to issue from time to time water development revenue bonds and notes of the state in such principal amounts as the authority deems necessary to pay the cost of or finance, in whole or in part, by loans to governmental agencies, one or more water development projects, but the aggregate…
W. Va. Code § 22C-1-10
Trustee for bondholders; contents of trust agreement
In the discretion of the authority, any water development revenue bonds or notes or water development revenue refunding bonds issued by the authority under this article may be secured by a trust agreement between the authority and a corporate trustee, which trustee may be any trust company or banking institution having…
W. Va. Code § 22C-1-11
Trust agreements for related responsibilities; reimbursements
Notwithstanding any other provision of this code to the contrary, when the authority acts in the capacity of fiscal agent, authorizing authority or some other capacity for any agency, department, instrumentality or public corporation of the state which is issuing or purchasing bonds or notes, the authority may, in the…
W. Va. Code § 22C-1-12
Legal remedies of bondholders and trustees
Any holder of water development revenue bonds issued under the authority of this article or any of the coupons appertaining thereto and the trustee under any trust agreement, except to the extent the rights given by this article may be restricted by the applicable resolution or such trust agreement, may by civil action…
W. Va. Code § 22C-1-13
Bonds and notes not debt of state, county, municipality or of any political subdivision; expenses incurred pursuant to article
Water development revenue bonds and notes and water development revenue refunding bonds issued under authority of this article and any coupons in connection therewith are not a debt or a pledge of the faith and credit or taxing power of this state or of any county, municipality or any other political subdivision of thi…
W. Va. Code § 22C-1-14
Use of funds by authority; restrictions thereon
All moneys, properties and assets acquired by the authority, whether as proceeds from the sale of water development revenue bonds or as revenues or otherwise, shall be held by it in trust for the purposes of carrying out its powers and duties, and shall be used and reused in accordance with the purposes and provisions…
W. Va. Code § 22C-1-15
Investment of funds by authority
The authority is hereby authorized and empowered to invest any funds not needed for immediate disbursement in any of the following securities: (1) Direct obligations of or obligations guaranteed by the United States of America; (2) Bonds, debentures, notes or other evidences of indebtedness issued by any of the followi…
W. Va. Code § 22C-1-16
Rentals and other revenues from water development projects owned by the authority; contracts and leases of the authority; cooperation of other governmental agencies; bonds of such agencies
This section applies to any water development project or projects which are owned, in whole or in part, by the authority. The authority may charge, alter and collect rentals or other charges for the use or services of any water development project, and contract in the manner provided by this section with one or more pe…
W. Va. Code § 22C-1-17
Maintenance, operation and repair of projects; reports by authority to Governor and Legislature
Each water development project, when constructed and placed in operation, shall be maintained and kept in good condition and repair by the authority or if owned by a governmental agency, by such governmental agency, or the authority or such governmental agency shall cause the same to be maintained and kept in good cond…
W. Va. Code § 22C-1-18
Water development bonds lawful investments
The provisions of sections nine and ten, article six, chapter twelve of this code to the contrary notwithstanding, all water development revenue bonds issued pursuant to this article are lawful investments for the West Virginia State Board of Investments and are also lawful investments for banking institutions, societi…
W. Va. Code § 22C-1-19
Purchase and cancellation of notes or bonds
The authority, subject to such agreements with noteholders or bondholders as may then exist, has the power, out of any funds available therefor, to purchase notes or bonds of the authority. If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then applicable plus a…
W. Va. Code § 22C-1-20
Refunding bonds
Any bonds issued hereunder and at any time outstanding may at any time and from time to time be refunded by the authority by the issuance of its refunding bonds in such amount as it may deem necessary to refund the principal of the bonds so to be refunded, together with any unpaid interest thereon; to provide additiona…
W. Va. Code § 22C-1-21
Exemption from taxation
The exercise of the powers granted to the authority by this article will be in all respects for the benefit of the people of the state, for the improvement of their health, safety, convenience and welfare and for the enhancement of their residential, agricultural, recreational, economic, commercial and industrial oppor…
W. Va. Code § 22C-1-22
Acquisition of property by authority -- Acquisition by purchase; governmental agencies authorized to convey, etc., property
The authority may acquire by purchase, whenever it deems such purchase expedient, any land, property, rights, rights-of-way, franchises, easements and other interests in lands it deems necessary or convenient for the construction and operation of any water development project upon such terms and at such prices it consi…
W. Va. Code § 22C-1-23
Same -- Acquisition under subdivision (10), section six of this article; property of public utilities and common carriers; relocation, restoration, etc., of highways and public utility facilities
The authority may acquire, pursuant to subdivision (10), section six of this article, any land, rights, rights-of-way, franchises, easements or other property necessary or proper for the construction or the efficient operation of any water development project. This section does not authorize the authority to take or di…
W. Va. Code § 22C-1-24
Financial interest in contracts prohibited; penalty
No officer, member or employee of the authority shall be financially interested, directly or indirectly, in any contract of any person with the authority, or in the sale of any property, real or personal, to or from the authority. This section does not apply to contracts or purchases of property, real or personal, betw…
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