reglab/housing_qa huggingface dataset:
WV Code § 8-37-3 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 37. Municipal Financial Stabilization Fund Act|§8-37-3. Budget Stabilization Fund; Creation; Appropriation; Maximum

(a) A municipality may create a financial stabilization fund by a majority vote of its governing body. The fund may receive appropriations, gifts, grants and any other funds made available.(b) The governing body may appropriate a sum to the fund from any surplus in the General Fund at the end of each fiscal year or from any other money available.(c) The amount of money in the fund may not exceed thirty percent of the municipality's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the governing body shall transfer the excess to any fund it considers appropriate.
WV Code § 8-37-4 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 37. Municipal Financial Stabilization Fund Act|§8-37-4. Fund Investment; Usage

(a) The governing body may invest the money in the fund as it considers appropriate, with the earnings retained by the fund.(b) The governing body may appropriate money in the financial stabilization fund upon a majority vote for the following purposes:(1) To cover a general fund shortfall; or(2) Any other purpose the municipality considers appropriate.
WV Code § 8-38-1 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-1. Short Title

This article is known and may be cited as the "Municipal Economic Opportunity Development District Act".
WV Code § 8-38-2 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-2. Legislative Findings and Declaration of Purpose

The Legislature finds that many significant business opportunities initiated within municipalities of this state face financial and other economic obstacles.The Legislature further finds that there are undeveloped, underdeveloped or seriously deteriorated development areas within certain municipalities of this state which are uniquely situated relative to large populations in other states or to other specific economic recreational or cultural activities or facilities which will attract large populations from this state and other states who would be likely to make substantial retail purchases of tangible personal property and services offered in modern and modernized structures and facilities constructed, supplemented, reconstructed or repaired in such undeveloped, underdeveloped or seriously deteriorated areas within certain municipalities of this state. The Legislature further finds that economic inducements provided by the state are necessary and appropriate to enable the construction, supplementation, reconstruction and repair of such modern and modernized structures and facilities in such undeveloped, underdeveloped or seriously deteriorated areas within certain municipalities of this state. This adversely affects the economic and general well-being of the citizens of those municipalities. Establishment of economic opportunity development districts within municipalities of the state, in accordance with the purpose and powers set forth in this article, will serve a public purpose and promote the health, safety, prosperity, security and general welfare of all citizens in the state. It will also promote the establishment and vitality of significant business opportunities within those municipalities while serving as an effective means for developing or restoring and promoting retail and other business activity within the economic opportunity development districts created herein. This will be of special benefit to the tax base of the municipalities within which any economic development district is created pursuant to this article and will specifically generate substantial incremental increases in excise taxes on sales within such economic opportunity development districts of tangible personal property and services and thereby and otherwise will stimulate economic growth and job creation.
WV Code § 8-38-3 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-3. Definitions

For purposes of this article, the term:(1) "Affordable housing" means housing that could be purchased with a cash down payment of at least ten percent and the proceeds of a mortgage loan, the monthly principal and interest payments on which do not exceed thirty percent of the gross monthly income of a household earning one hundred percent of the current median family income, as computed by the United States Department of Housing and Urban Development, for the county in which the district is located. For the purposes of this definition, the monthly principal and interest payments referred to in the preceding sentence are computed using a standard amortization calculation incorporating the prevailing annual rate of interest on mortgage loans offered by financial institutions in the vicinity of the district, as determined by the Development Office at the time of its review of a municipality's application in accordance with section seven of this article, and a thirty year amortization period.(2) "Development expenditures" means payments for governmental functions, programs, activities, facility construction, improvements and other goods and services which a district board is authorized to perform or provide under section five of this article;(3) "District" means an economic opportunity development district created pursuant to this article;(4) "District board" means a district board created pursuant to section ten of this article;(5) "Eligible property" means any taxable or exempt real property located in a district established pursuant to this article;(6) "Municipality" is a word of art and means any Class I, Class II and Class III city or any Class IV town or village as classified in section three, article one of this chapter;(7) "Remediation" means measures undertaken to bring about the reconditioning or restoration of property located within the boundaries of an economic opportunity development district that has been affected by exploration, mining, industrial operations or solid waste disposal and which measures, when undertaken, will eliminate or ameliorate the existing state of the property and enable the property to be commercially developed.
WV Code § 8-38-4 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-4. Authorization to Create Economic Opportunity Development Districts

A municipality may, in accordance with the procedures and subject to the limitations set forth in this article:(1) Create one or more economic opportunity development districts within its limits;(2) Provide for the administration and financing of development expenditures within the districts; and(3) Provide for the administration and financing of a continuing program of development expenditures within the districts.
WV Code § 8-38-6 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-6. Notice; Hearing

(a) General. -- A municipality desiring to create an economic opportunity development district shall conduct a public hearing.(b) Notice of hearing. -- Notice of the public hearing shall be published as a Class I-0 legal advertisement in compliance with article three, chapter fifty-nine of this code at least twenty days prior to the scheduled hearing. In addition to the time and place of the hearing, the notice must also state:(1) The purpose of the hearing;(2) The name of the proposed district;(3) The general purpose of the proposed district;(4) The geographic boundaries of the property proposed to be included in the district; and(5) The proposed method of financing any costs involved, including the base and rate of special district excise tax that may be imposed upon sales of tangible personal property and taxable services from business locations situated within the proposed district.(c) Opportunity to be heard. -- At the time and place set forth in the notice, the municipality shall afford the opportunity to be heard to any owner of real property situated in the proposed district and any residents of the municipality.(d) Application to West Virginia Development Office. -- If the municipality, following the public hearing, determines it advisable and in the public interest to establish an economic opportunity development district, it shall apply to the West Virginia Development Office for approval of the economic opportunity development district project pursuant to the procedures provided in section seven of this article.
WV Code § 8-38-8 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-8. Establishment of the Economic Opportunity Development District Fund

(a) General. -- There is hereby created a special revenue account in the State Treasury designated the "Economic Opportunity Development District Fund" which is an interest-bearing account and shall be invested in the manner described in section nine-c, article six, chapter twelve of this code with the interest income a proper credit to the Fund.(b) District subaccount. -- A separate and segregated subaccount within the account shall be established for each economic opportunity development district and each joint economic opportunity development district that is approved by the Executive Director of the Development Office. In addition to the economic opportunity district excise tax levied and collected as provided in this article, funds paid into the account for the credit of any subaccount may also be derived from the following sources:(1) All interest or return on the investment accruing to the subaccount;(2) Any gifts, grants, bequests, transfers, appropriations or donations which are received from any governmental entity or unit or any person, firm, foundation or corporation; and(3) Any appropriations by the Legislature which are made for this purpose
WV Code § 8-38-11 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-11. District Board; Duties

(a) General. -- The council of a municipality that has been authorized by the Development Office to establish an economic opportunity development district, in accordance with this article, shall provide, by ordinance, for the appointment of a district board to oversee the operations of the district: Provided, That the municipality may, in the ordinance, in lieu of appointing a separate district board, designate itself to act as the district board.(b) Composition of board. -- If a separate district board is to be appointed, it shall be made up of at least seven members, two of which shall be owners, or representatives of owners, of real property situated in the economic opportunity development district and the other five shall be residents of the municipality within which the district is located.(c) Annual report. -- The district board, in addition to the duties prescribed by the ordinance creating the district, shall submit an annual report to the municipality and the Development Office containing:(1) An itemized statement of its receipts and disbursements for the preceding fiscal year;(2) A description of its activities for the preceding fiscal year;(3) A recommended program of services to be performed and capital improvements to be made within the district for the coming fiscal year; and(4) A proposed budget to accomplish its objectives.(d) Conflict of interest exception. -- Nothing in this article prohibits any member of the district board from also serving on the board of directors of a nonprofit corporation with which the municipality may contract to provide specified services within the district.(e) Compensation of board members. -- Each member of the district board may receive reasonable compensation for services on the board in the amount determined by the municipality: Provided, That when a district board is not created for the district but the work of the board is done by the municipality, the members shall receive no additional compensation.
WV Code § 8-38-13 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-13. Requisition of District Subaccount Funds

Sixty days after collection of a special district excise tax begins, the State Auditor shall, upon receipt of a monthly requisition from the district board, issue his or her warrant on the state Treasurer for the funds requested from the district's subaccount, which funds are applied for the purposes described in section five of this article and the state Treasurer shall pay the warrant out of funds in the subaccount.
WV Code § 8-38-15 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-15. Abolishment and Dissolution of District; Notice; Hearing

(a) General. -- Except upon the express written consent of the Executive Director of the Development Office and of all the holders or obligees of any indebtedness or other instruments the proceeds of which were applied to any development expenditures or any indebtedness, the payment of which is secured by revenues payable into the fund provided under section eight of this article or by any public property, a district may only be abolished by the municipality when there is no outstanding indebtedness the proceeds of which were applied to any development expenditures or the payment of which is secured by revenues payable into the fund provided under section eight of this article, or by any public property, and following a public hearing upon the proposed abolishment.(b) Notice of public hearing. -- Notice of the public hearing required by subsection (a) of this section shall be provided by first-class mail to all owners of real property within the district and shall be published as a Class I-0 legal advertisement in compliance with article three, chapter fifty-nine of this code at least twenty days prior to the public hearing.(c) Transfer of district assets and funds. -- Upon the abolishment of any economic opportunity development district, any funds or other assets, contractual rights or obligations, claims against holders of indebtedness or other financial benefits, liabilities or obligations existing after full payment has been made on all existing contracts, bonds, notes or other obligations of the district are transferred to and assumed by the municipality. Any funds or other assets transferred shall be used for the benefit of the area included in the district being abolished.(d) Reinstatement of district. -- Following abolishment of a district pursuant to this section, its reinstatement requires compliance with all requirements and procedures set forth in this article for the initial development, approval, establishment and creation of an economic opportunity development district.
WV Code § 8-38-18 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-18. Redemption of Bonds

The revenue bonds issued pursuant to this article may contain a provision therein to the effect that they, or any of them, may be called for redemption at any time prior to maturity by the municipality and at the redemption prices or premiums, which terms shall be stated in the bond.
WV Code § 8-38-19 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-19. Refunding Bonds

(a) Any bonds issued under this article and at any time outstanding may at any time, and from time to time, be refunded by a municipality by the issuance of its refunding bonds in amount as the municipality considers necessary to refund the principal of the bonds to be refunded, together with any unpaid interest thereon; to make any improvements or alterations in the economic opportunity development district project; and any premiums and commissions necessary to be paid in connection therewith.(b) Any refunding may be effected whether the bonds to be refunded shall have then matured or shall thereafter mature, either by sale of the refunding bonds and the application of the proceeds thereof for the redemption of the bonds to be refunded thereby, or by exchange of the refunding bonds for the bonds to be refunded thereby: Provided, That the holders of any bonds to be refunded shall not be compelled without their consent to surrender their bonds for payment or exchange prior to the date on which they are payable or, if they are called for redemption, prior to the date on which they are by their terms subject to redemption.(c) Any refunding bonds issued under the authority of this article are subject to the provisions contained in section sixteen of this article and shall be secured in accordance with the provisions of section seventeen of this article.
WV Code § 8-38-20 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-20. Use of Proceeds From Sale of Bonds

(a) General. -– The proceeds from the sale of any bonds issued under authority of this article shall be applied only for the purpose for which the bonds were issued: Provided, That any accrued interest received in any sale shall be applied to the payment of the interest on the bonds sold: Provided, however, That if for any reason any portion of the proceeds may not be needed for the purpose for which the bonds were issued, then the unneeded portion of the proceeds may be applied to the purchase of bonds for cancellation or payment of the principal of or the interest on the bonds, or held in reserve for the payment thereof.(b) Payment of costs. -– The costs that may be paid with the proceeds of the bonds include all development expenditures described in section five of this article and may also include, but not be limited to, the following:(1) The cost of acquiring any real estate determined necessary;(2) The actual cost of the construction of any part of an economic opportunity development district project which may be constructed, including architects', engineers', financial or other consultants' and legal fees;(3) The purchase price or rental of any part of an economic opportunity development district project that may be acquired by purchase or lease;(4) All expenses incurred in connection with the authorization, sale and issuance of the bonds to finance the acquisition and the interest on the bonds for a reasonable time prior to construction during construction and for not exceeding twelve months after completion of construction; and(5) Any other costs and expenses reasonably necessary in the establishment and acquisition of an economic opportunity development district project and the financing thereof.
WV Code § 8-38-21 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-21. Bonds Made Legal Investments

Bonds issued under the provisions of this article are legal investments for banks, building and loan associations and insurance companies organized under the laws of this state and for a business development corporation organized pursuant to chapter thirty-one, article fourteen of this code.
WV Code § 8-38-22 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-22. Exemption From Taxation

The revenue bonds and notes issued pursuant to this article and the income therefrom are exempt from taxation except inheritance, estate and transfer taxes; and the real and personal property which a municipality or district board acquires pursuant to the provisions of this article are exempt from taxation by the state, or any county, municipality or other levying body, as public property so long as the property is owned by the municipality or district board.
WV Code § 8-38-24 (2021)
2021 West Virginia Code|Chapter 8. Municipal Corporations|Article 38. Municipal Economic Opportunity Development Districts|§8-38-24. Application by Division of Highways

(a) The Commissioner of Highways may propose the creation by a county commission of an economic opportunity development district and project plans, or propose amendments to existing project plans.(b) Projects proposed by the Commissioner of Highways are limited to those related to the construction, reconstruction, improvement or modernization of state roads, as defined in article four, chapter seventeen of this code, that are part of the state road system, as defined in that article or that will become part of the state road system upon completion of the construction. All construction, reconstruction, improvement or modernization and maintenance of state roads shall be done by or under the supervision of the Commissioner of Highways.(c) All road projects that are accepted as part of the state road system, and all real property interests and appurtenances, shall be under the exclusive jurisdiction and control of the Commissioner of Highways, who may exercise the same rights and authority as he or she has over other transportation facilities in the state road system.(d) Except as provided in an intergovernmental agreement executed by one or more county commissions, municipalities and/or the Commissioner of Highways and as provided in this article, a county commission or municipality may not be required to pay for the cost of constructing, reconstructing, improving, maintaining a road that is part of the state road system as defined in article four, chapter seventeen of this code or to pay any other expense fairly related to that road.(e) The powers conferred by this article on the Commissioner of Highways or the Division of Highways are in addition and supplemental to the powers conferred upon the Commissioner of Highways, the Division of Highways, and the Department of Transportation by the Legislature elsewhere in this code.