Source: http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=SB331%20ENR.htm&yr=2013&sesstype=RS&i=331
Timestamp: 2018-03-20 08:30:36
Document Index: 794929763

Matched Legal Cases: ['§29', '§29', '§29', '§29', '§29', '§29', '§29', '§29', '§29', '§29', '§29']

AN ACT to amend and reenact §29-26-2, §29-26-5 and §29-26-6 of the Code of West Virginia, 1931, as amended; and to amend said code by adding thereto eight new sections, designated §29-26-7, §29-26-8, §29-26-9, §29-26-10, §29-26-11, §29-26-12, §29-26-13 and §29-26-14, all relating to providing the West Virginia Courthouse Facilities Improvement Authority with the ability to issue bonds to raise funds for paying the costs of approved modifications or construction of courthouse facilities; defining terms; adding bond-related activities to the powers of the authority; providing that moneys from the West Virginia Courthouse Facilities Improvement Fund may be disbursed for payment of debt service on bonds; authorizing the authority to issue bonds; setting circumstances for bond issuance and potential terms of bonds; authorizing repayment of debt; permitting bonds be secured by trust agreement and setting certain parameters; permitting refunding bonds; clarifying that bonds by the authority are not a pledge of faith and credit of the state, county, municipality or other subdivision of the state; declaring bonds issued as negotiable instruments under the Uniform Commercial Code; exempting all bonds by the authority, as well as interest and income thereon, from taxation by the state or any subdivision; declaring that certain individuals have no personal liability in relation to issuance of bonds; and granting cumulative authority for exercising certain powers, including if no bonds are issued by the authority.
(d) "Cost" means the cost of construction, renovation, repair and safety upgrading of courthouse facilities; the cost of land, equipment, machinery, furnishings, installation of utilities and other similar items convenient in connection with placing a courthouse facility in operation; and the cost of financing, interest during construction, professional service fees and all other charges or expenses necessary, appurtenant or incidental to the modification or construction of a courthouse facility;
(e) "Courthouse facility" means buildings or structures, or any portion thereof, which are owned by the county or another governmental entity and occupied exclusively by offices of county and judicial officials or by courtrooms, county jails, detention centers, day report centers or other offices in which activities related to the operations of county governments take place; and
(i) Identify any alternative sources of funding, whether privately or publicly administered, and assist county applicants in the securing of alternative sources of funding; and
(j) Do all things necessary or convenient to carry out the powers given in this article.
(b) The authority shall undertake a study on the condition and state of need of every courthouse facility throughout the State of West Virginia, and shall determine the estimated cost of the improvements which are necessary to bring each facility into conformity with requirements outlined in this article.
(c) The moneys of the West Virginia Courthouse Facilities Improvement Fund shall be disbursed by the authority for the payment of debt service on bonds issued pursuant to the provisions of this article, funding of approved modifications or construction of courthouse facilities and to pay expenses of the authority in administering the provisions of this article.
(e) Nothing in this article may be construed to mandate funding for the West Virginia Courthouse Facilities Improvement Fund or to require any appropriation by the Legislature.