reglab/housing_qa huggingface dataset:
WV Code § 31-18-4 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-4. Composition; Board of Directors; Appointment, Term, etc., of Private Members; Chairman and Vice Chairman; Quorum

(a) There is continued as a governmental instrumentality of the State of West Virginia, a public body corporate to be known as the West Virginia Housing Development Fund.(b) The Housing Development Fund is created and established to serve a public corporate purpose and to act for the public benefit and as a governmental instrumentality of the State of West Virginia, to act on behalf of the state and its people in improving and otherwise promoting their health, welfare and prosperity.(c) The Housing Development Fund shall be governed by a board of directors, consisting of eleven members, four of whom shall be the Governor, the Attorney General, the Commissioner of Agriculture, and the state Treasurer, or their designated representatives as public directors, and seven of whom shall be chosen from the general public residing in the state, as private directors. No more than four of the private directors shall be from the same political party.(d) Upon organization of the Housing Development Fund, the Governor shall appoint, by and with the advice and consent of the Senate, the seven private directors to take office and to exercise all powers thereof immediately, with two each appointed for terms of two years and three years, and with three each appointed for terms of four years, respectively, as the Governor shall designate; at the expiration of said terms and for all succeeding terms, the Governor shall appoint a successor to the office of private director for a term of four years in each case.(e) A vacancy in the office of a private director is filled by appointment by the Governor for the remainder of the unexpired term.(f) The Governor may remove any private director for reason of incompetency, neglect of duty, gross immorality, or malfeasance in office and appoint a director to fill the vacancy as provided in other cases of vacancy.(g) The Governor or designee serves as chair. The board of directors shall annually elect one of its public members as vice chair and appoint a secretary to keep records of its proceedings, who need not be a member of the board.(h) Six members of the board of directors constitutes a quorum. A vacancy in the membership of the board does not impair the duties of the board of directors.(i) Action may not be taken by the board of directors except upon the affirmative vote of at least six of the directors.(j) The directors, including the chair, vice chair and treasurer, and the secretary of the board are not compensated for their services but receive reasonable and necessary expenses actually incurred in discharging their duties under this article in a manner consistent with guidelines of the travel management office of the Department of Administration.
WV Code § 31-18-5 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-5. Management and Control of Housing Development Fund Vested in Board; Officers; Liability

(a) The management and control of the Housing Development Fund shall be vested solely in the board of directors in accordance with the provisions of this article.(b) The chairman shall be the chief executive officer of the Housing Development Fund, and, in his or her absence, the vice chairman shall act as chief executive officer.(c) The Governor appoints an executive director of the Housing Development Fund, with the advice and consent of the Senate, who serves at the Governor's will and pleasure. The director is responsible for managing and administering the daily functions of the Housing Development Fund and for performing other functions necessary to the effective operation of the Housing Development Fund. The executive director's compensation is fixed annually by the board of directors.(d) The board of directors of the Housing Development Fund shall annually elect from its membership a treasurer and shall annually elect a secretary, who need not be a member of the board, to keep a record of the proceedings of the Housing Development Fund.(e) The treasurer of the Housing Development Fund shall be custodian of all funds of the Housing Development Fund and shall be bonded in such amount as the other members of the board of directors may designate.(f) The directors and officers of the West Virginia Housing Development Fund shall not be liable personally, either jointly or severally, for any debt or obligation created by the West Virginia Housing Development Fund.
WV Code § 31-18-6a (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-6a. Certain Loans Exempt From Laws Limiting Interest Rates or Providing Forfeitures, etc.

Notwithstanding any other provision to the contrary, no law limiting interest rates or providing for forfeiture, penalty or other loss or liability because of rate of interest charged shall apply to any loan in a principal amount of more than $100,000 on loans made by the Housing Development Fund in the furtherance of its corporate purposes or to any addition to or refinancing of a loan in the original principal amount of more than $100,000, made by the Housing Development Fund for such purposes.
WV Code § 31-18-7 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-7. Notes or Bonds as General Obligations of Housing Development Fund

Except as may otherwise be provided by the Housing Development Fund, every issue of its notes or bonds shall be general obligations of the Housing Development Fund payable out of any revenues or moneys of the Housing Development Fund, subject only to any agreements with the holders of particular notes or bonds pledging any particular receipts or revenues.
WV Code § 31-18-8 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-8. Notes and Bonds as Negotiable Instruments

The notes and bonds shall be and hereby are made negotiable instruments under the provisions of article eight, chapter forty-six of this code, subject only to the provisions of the notes or bonds for registration, unless otherwise provided by resolution of the Housing Development Fund.
WV Code § 31-18-9 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-9. Borrowing of Money

The borrowing of money and the notes and bonds evidencing any such borrowing shall be authorized by resolution approved by the board of directors of the Housing Development Fund, shall bear such date or dates, and shall mature at such time or times, in the case of any such note or any renewal thereof, not exceeding ten years from the date of issue of such original note, and, in the case of any such bond, not exceeding fifty years from the date of issue, as such resolution or resolutions may provide. The notes and bonds shall bear interest at such rate or rates, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such terms or conditions of redemption as such resolution or resolutions may provide.
WV Code § 31-18-10 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-10. Sale of Notes or Bonds

Any notes or bonds issued by the West Virginia Housing Development Fund may be sold in such manner, either at public or private sale, and for such price, upon such terms and at such interest rates per annum, as the fund shall determine to be for the best interests of the fund and to be necessary to effectuate the purposes of this article.
WV Code § 31-18-11 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-11. Authorizing Resolutions

Any resolution or resolutions authorizing any notes or bonds, or any issue thereof, may contain provisions, which shall be a part of the contract with the holders thereof, as to:(1) Pledging all or part of the mortgage or deed of trust payments, charges and other fees made or received by the Housing Development Fund and other moneys received or to be received to secure the payment of the notes or bonds or of any issue thereof, subject to such agreements with bondholders or noteholders as may then exist;(2) Pledging all or any part of the assets of the Housing Development Fund to secure the payment of the notes or bonds or any issue of notes or bonds, subject to such agreements with bondholders or noteholders as may then exist;(3) Pledging as security, or as part of the security, for the payment of any mortgage finance bonds, including, but not limited to mortgage finance bonds issued to pay outstanding notes, amounts payable from the mortgage finance bond insurance fund;(4) The setting aside of reserves or sinking funds and the regulation and disposition thereof;(5) Limitations on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payments of the notes or bonds or of any issue thereof;(6) Limitations on the issuance of additional notes or bonds; the terms upon which additional notes or bonds may be issued and secured; and the refunding of outstanding or other notes or bonds;(7) The procedure, if any, by which the terms of any contract with noteholders or bondholders may be amended or abrogated, the amount of notes or bonds the holders of which must consent thereto, and the manner in which such consent may be given;(8) Limitations on the amount of moneys to be expended by the Housing Development Fund for operating, administrative or other expenses of the Housing Development Fund;(9) Vesting in a trustee or trustees such property, rights, powers and duties of any trustee appointed by the bondholders pursuant to section sixteen of this article, and limiting or abrogating the right of the bondholders to appoint a trustee under section sixteen of this article or limiting the rights, powers and duties of such trustee; and(10) Any other matters, of like or different character, which in any way affect the security or protection of the notes or bonds.
WV Code § 31-18-12 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-12. Validity of Any Pledge, Mortgage, Deed of Trust or Security Instrument

It is the intention hereof that any pledge, mortgage, deed of trust or security instrument made by or for the benefit of the Housing Development Fund, including, but not limited to amounts in the mortgage finance bond insurance fund, shall be valid and binding between the parties from the time the pledge, mortgage, deed of trust or security instrument is made; and that the moneys or property so pledged, encumbered, mortgaged or entrusted shall immediately be subject to the lien of such pledge, mortgage, deed of trust or security instrument without any physical delivery thereof or further act. The lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise, irrespective of whether such parties have notice of the lien of such pledge. Nothing herein shall be construed to prohibit the Housing Development Fund from selling any property subject to any such pledge, mortgage, deed of trust or security instrument. Such property is not to be sold for less than its fair market value.
WV Code § 31-18-13 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-13. Redemption of Notes or Bonds

The Housing Development Fund, subject to such agreements with noteholders or bondholders as may then exist, shall have power, out of any funds available therefor, to purchase notes or bonds of the Housing Development Fund.If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date thereon. If the notes or bonds are not then redeemable, the price of such purchase shall not exceed the redemption price applicable on the first date after such purchase upon which the notes or bonds become subject to redemption plus accrued interest to such date. Upon such purchase such notes or bonds shall be canceled.
WV Code § 31-18-14 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-14. Disclaimer of Any Liability of State of West Virginia

The state of West Virginia shall not be liable on notes, bonds or other evidences of indebtedness of the Housing Development Fund and such notes, bonds or other evidences of indebtedness shall not be a debt of the State of West Virginia, and such notes, bonds or other evidences of indebtedness shall contain on the face thereof a statement to such effect.
WV Code § 31-18-15 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-15. Limitation of Rights Vested in Housing Development Fund by State

The state of West Virginia does hereby pledge to and agree with the holders of any notes or bonds issued under this article, that the state will not limit or alter the rights hereby vested in the Housing Development Fund to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of such holders until such notes or bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses for which the Housing Development Fund is liable in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The Housing Development Fund is hereby authorized to include this pledge and agreement of the state in any agreement with the holders of such notes and bonds.
WV Code § 31-18-16 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-16. Default in Payment of Principal or Interest

(a) In the event the Housing Development Fund shall default in the payment of principal of or interest on any issue of notes or bonds after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of thirty days, or in the event the Housing Development Fund shall fail or refuse to comply with the provisions of this article or shall default in any agreement made with the holders of any issue of notes or bonds, the holders of twenty-five per centum in aggregate principal amount of the notes or bonds of such issue then outstanding, by instrument or instruments filed in the office of the clerk of the county court of any county in which the Housing Development Fund operates and has an office and acknowledged in the same manner as a deed to be recorded, may appoint a trustee to represent the holders of such notes or bonds for the purposes herein provided.(b) Any such trustee upon the written request of the holders of twenty-five per centum in principal amount of such notes or bonds then outstanding shall, in his or its own name, do any one or more of the following:(1) By civil action or other proceeding, enforce all rights of the noteholders or bondholders, including the right to require the Housing Development Fund to perform its duties under this article;(2) Bring a civil action upon such notes or bonds;(3) By civil action or other proceeding, require the Housing Development Fund to account as if it were the trustee of an express trust for the holders of such notes or bonds;(4) By civil action or other proceeding, enjoin any acts or things which may be unlawful or in violation of the rights of the holders of such notes or bonds;(5) Declare all such notes or bonds due and payable, and if all defaults shall be made good, then, with the consent of the holders of twenty-five per centum of the principal amount of such notes or bonds then outstanding, annul such declaration and its consequences.(c) In addition to the foregoing, such trustee shall have and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth herein or incident to the general representation of bondholders or noteholders in the enforcement and protection of their rights.(d) Before declaring the principal of any notes or bonds due and payable, the trustee shall first give thirty days' notice in writing to the Housing Development Fund.
WV Code § 31-18-17 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-17. Investment in Notes and Bonds

The notes and bonds of the Housing Development Fund are hereby made securities in which all insurance companies and associations, and other persons carrying on an insurance business, all banks, bankers, trust companies, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, and other persons, except administrators, guardians, executors, trustees and fiduciaries, who are now or who may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them.
WV Code § 31-18-18 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-18. Tax Exemption

The Housing Development Fund shall not be required to pay any taxes and assessments to the State of West Virginia, or any county, municipality or other governmental subdivision of the State of West Virginia, upon any of its property or upon its obligations or other evidences of indebtedness pursuant to the provisions of this article, or upon any moneys, funds, revenues or other income held or received by the Housing Development Fund. The notes and bonds of the Housing Development Fund and the income therefrom shall at all times be exempt from taxation, except for death and gift taxes, taxes on transfers, sales taxes, real property taxes and business and occupation taxes.
WV Code § 31-18-19 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-19. Operating Loan Fund

(a) The board of directors of the Housing Development Fund may create and establish a special revolving loan fund of moneys made available by contribution or loan, to be known as the operating loan fund and to be governed, administered and accounted for by the directors, officers and managerial staff of the Housing Development Fund as a public purpose trust account separate and distinct from any other moneys, fund or funds owned and managed by the Housing Development Fund.(b) The purpose for organizing and operating the operating loan fund shall be to provide a source from which the Housing Development Fund may make temporary loans, with or without interest, but with such security for repayment as the Housing Development Fund deems reasonably necessary and practicable; such loans to be used to defray development costs to sponsors of land development for residential housing construction for occupancy by persons and families of low and moderate income or residential housing construction for occupancy by persons and families of low and moderate income which is eligible or potentially eligible for federally insured construction loans, federally insured mortgages or federal mortgages or other public assistance programs or uninsured construction loans or uninsured mortgage loans.(c) No temporary loans shall be made by the Housing Development Fund from the operating loan fund except in accordance with a written loan agreement which shall include, but not be limited to, the following terms and conditions:(1) The proceeds of all such loans shall be used only to defray the development costs of such proposed residential housing;(2) All such loans shall be repaid in full, with or without interest as provided in the agreement;(3) All repayments shall be made concurrent with receipt by the borrower of the proceeds of a construction loan or mortgage, as the case may be, or at such other times as the Housing Development Fund deems reasonably necessary or practicable; and(4) Specification of such security for repayments upon such terms and conditions as the Housing Development Fund deems reasonably necessary or practicable to ensure all repayments.(d) No funds from the operating loan fund shall be used to carry on propaganda, or otherwise attempt to influence legislation.
WV Code § 31-18-20 (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-20. Authorized Limit on Borrowing

The aggregate principal amount of bonds and notes issued by the Housing Development Fund shall not exceed $1,250,000,000 outstanding at any one time: Provided, That in computing the total amount of bonds and notes which may at any one time be outstanding, the principal amount of any outstanding bonds or notes refunded or to be refunded either by application of the proceeds of the sale of any refunding bonds or notes of the Housing Development Fund or by exchange for any such refunding bonds or notes, shall be excluded.
WV Code § 31-18-20c (2021)
2021 West Virginia Code|Chapter 31. Corporations|Article 18. West Virginia Housing Development Fund|§31-18-20c. Jobs Development Fund

There is hereby created and established a special fund to be designated as the "jobs development fund" into which the Housing Development Fund shall, effective July 1, 1992, deposit the sum of $10 million. Thereafter, the Housing Development Fund shall have no further duty or obligation to, but may in its sole discretion, deposit additional funds. Such funds shall be governed, administered and accounted for by the Housing Development Fund as a special purpose account separate and distinct from any other moneys, fund or funds owned or managed by the Housing Development Fund. The sole and exclusive purpose of such fund shall be to provide a source for distribution from time to time to the jobs investment trust as provided for in article seven, chapter twelve of this code. Upon receipt by the Housing Development Fund from time to time of a written requisition from the trust together with a certificate that the funds so requisitioned will be used in accordance with the provisions of article seven, chapter twelve of this code and are expected to be expended within thirty days after such disbursement to fund a loan or other investment or to pay the operating expenses of the trust, the Housing Development Fund shall disburse the amount so requisitioned. Until so disbursed, the moneys initially deposited or thereafter from time to time deposited in such fund may be invested and reinvested by the Housing Development Fund as permitted under subdivision (8), section six of this article. Upon the dissolution or the termination of the jobs investment trust board, any funds remaining in the jobs development fund shall automatically revert to the General Fund of the Housing Development Fund free of any limitations provided in this section.