W. Va. Code § 7-5A-5
Creation of sinking fund; loan may be repaid after five years
West Virginia · West Virginia Code Chapter 7 — County Commissions and Officers · Status: effective
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- Citation
- W. Va. Code § 7-5A-5, Creation of sinking fund; loan may be repaid after five years, West Virginia, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2360141
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Full text
The said county courts shall set apart a sufficient amount from the taxes, levied and collected annually, to create a sinking fund for the repayment of the aforesaid loan on the basis of five percent of the principal plus the interest thereon annually. Any county court, after a period of five years from the date of said loan, if it has sufficient funds on hand, may pay off and discharge the whole amount of the money so borrowed.