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WV Code § 17-17A-3 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-3. Authorization of Notes

The commissioner is hereby authorized to pay the cost of any surface transportation improvement through the issuance of special obligation notes. No such notes may be issued, however, unless they are part of an issue described in a written declaration executed by the Governor and the commissioner and filed in the office of the Secretary of State.Except in the case of renewal notes, the proceeds of such notes shall be used solely for the payment of the cost of the surface transportation improvements which they were issued to finance, which shall be verified by the commissioner and under such further restrictions, if any, as may be provided. If the proceeds of such notes, by error or calculation or otherwise, shall be less than the cost of the related surface transportation improvements, additional notes may in like manner be issued to provide the amount of such deficit, and unless otherwise provided in the trust agreement hereinafter mentioned, shall be deemed to be of the same issue and shall be entitled to payment from the same sources, without preference or priority of the notes first issued for the same related surface transportation improvements. If the proceeds of notes issued for any related surface transportation improvements shall exceed the cost thereof, the surplus shall be applied to the payment, purchase or redemption of such notes.Such notes shall be executed by the Governor and the commissioner, under the great seal of the state, attested by the facsimile signature of the Secretary of State, and the coupons, if any, attached thereto shall be authenticated by the facsimile signature of the commissioner. The Governor and the commissioner may execute such notes by their facsimile signatures, but, unless provision has been made for the authentication thereof by a trustee determined to be responsible by the commissioner, each note shall bear at least one manual signature.Prior to the preparation of definitive notes, the Governor and the commissioner may under like restrictions issue temporary notes with or without coupons, exchangeable for definitive notes upon the issuance of the latter. Such notes may be issued without any other proceedings, or the happening of any other conditions or things than those proceedings, conditions and things which are specified and required by this article or by the Constitution of the state.
WV Code § 17-17A-4 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-4. Establishment of Terms and Sale of Notes; Financial Advisor

The description contained in any declaration with respect to an issue of notes hereunder shall specify the particular surface transportation improvements to be financed through the issuance of the notes, the estimate of the cost of such improvements, the aggregate amount of outstanding notes which may at any point in time constitute a part of such issue, the time or times and manner of sale of such notes, and the particular terms of such notes, or the manner in which such terms will be determined, including the date or dates, time or times of issuance, time or times and amount or amounts of maturity or maturities, specified or variable rate or rates of interest, the form of such notes and provisions for registration or exchange, if applicable, the method and manner of payment of such notes, the provisions, if any, for redemption or renewal of such notes, and specifying such other similar matters as the commissioner may determine to be necessary and appropriate in connection with the sale and issuance of the notes.The notes of an issue described in any such declaration shall be sold in such manner, at such price or prices and on such terms and conditions as no less than three members of the five- member group, comprised of the treasurer, the Auditor, the commissioner of finance and administration, the Tax Commissioner and the commissioner, determines to be in the best interest of the state, taking into account the financial responsibility of the purchaser and the terms and conditions of purchase and especially the availability of the proceeds of the notes when needed to pay the cost of the related surface transportation improvements. Such five-member group shall serve as financial advisor and upon the determination of no less than three members, as aforesaid, may retain professional financial assistance for such purpose.
WV Code § 17-17A-5 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-5. Security for Notes; Trust Agreements

In connection with any issue of notes hereunder, the commissioner may pledge or assign, as security for the payment of the principal of or interest on such notes, any of the following:(a) Any amounts to be received from the United States of America, or any agency or instrumentality thereof, as reimbursements of the costs incurred in connection with the surface transportation improvements to be financed by such notes, together with the rights and interests of the state with respect to such reimbursement;(b) Any amounts in the state road fund which may properly be applied to the reimbursements of any such costs pursuant to article three of this chapter;(c) The proceeds of any such notes pending their use or of notes which may be issued to renew or refund such notes;(d) The proceeds of any insurance or letters of credit or similar arrangements undertaken in connection with the acquisition, construction or financing of such surface transportation improvements;(e) The proceeds of any tolls, or portions of tolls, charged and collected pursuant to the provisions of sections five-a and five-b of this article that are designated by the commissioner as security for the payment of the principal of or interest on notes issued for the purposes described in section five-a of this article; and(f) Any other amounts specifically designated for the purpose of paying any such costs, but only to the extent appropriated by the Legislature and paid from general revenues prior to such pledge or dedicated for such purpose by the Legislature from proprietary revenues of the state.Any such pledge or assignment shall be valid and binding from the time it is made, and the lien of such pledge or assignment shall be enforceable and need not be perfected by delivery or any filing or further act. Such lien shall be valid 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 or assignment.The commissioner may enter into an agreement or agreements with any trust company or with any bank having the power of a trust company, either within or outside of the state, as trustee for the holders of notes issued hereunder, setting forth therein such duties of the state and of the commissioner in respect of the acquisition and construction of surface transportation improvements, the conservation and application of all moneys, the insurance of moneys on hand or on deposit, and the rights and remedies of the trustee and the holders of the notes, as may be agreed upon with the original purchasers of such notes, and including therein provisions restricting the individual right of action of holders as is customary in such trust agreements to protect and enforce the rights and remedies of the trustee and the holders. All expenses incurred in carrying out such agreement may be treated as a part of the cost of construction of the surface transportation improvements affected by the agreement.
WV Code § 17-17A-5a (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-5a. Use of Tolls for Construction, Maintenance, Repair and Operating Costs; Use of Tolls to Pay Special Obligation Notes

For highway projects described in section five-b of this article that are constructed after May 1, 1999, the commissioner of highways is hereby authorized to fix, revise, charge and collect tolls for transit over the highway projects and the different parts or sections thereof. The tolls shall be fixed and adjusted so that the aggregate of tolls from the project or projects provide a fund sufficient with other revenues, if any, to pay: (1) The cost of constructing, maintaining, repairing and operating such project or projects; and (2) the principal of and the interest on any notes issued to finance the project or projects as the same shall become due and payable, and to create reserves for such purposes. The tolls shall not be subject to supervision or regulation by any other commission, board, bureau, department or agency of the state. The tolls, except such part thereof as may be necessary to pay such cost of construction, maintenance, repair and operation and to provide such reserves therefor as may be provided for in the notes or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in the notes or the trust agreement in a sinking fund which is hereby pledged to, and charged with the payment of: (1) The interest upon such notes as such interest shall fall due; (2) the principal of such notes as the same shall fall due; (3) the necessary charges of paying agents for paying principal and interest; and (4) the redemption price or the purchase price of notes retired by accelerated payment or purchase as therein provided. The use and disposition of moneys to the credit of such sinking fund shall be subject to the provisions of the notes or of the trust agreement. The moneys in the sinking fund, less such reserve as may be provided for in the notes or trust agreement, if not used within a reasonable time for the purchase of notes for cancellation as above provided, shall be applied to the redemption of the notes at the redemption price then applicable.
WV Code § 17-17A-5b (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-5b. Designation of Class of Toll Roads

(a) The commissioner may fix and charge tolls on any road which meets the following criteria:(1) The road is a fully controlled access, four lane highway; and(2) The road extends from the border of West Virginia and is a continuation of a fully controlled access four lane highway in the adjacent state; and(3) The adjacent state charges tolls on its portion of the highway immediately adjacent to West Virginia; and(4) The West Virginia portion of the highway connects to another fully controlled access four lane highway in West Virginia.(b) Not less than one hundred eighty days prior to the final decision of the commissioner to charge tolls on any road described in subsection (a) of this section, the commissioner shall provide a report to the Joint Committee on Government and Finance setting forth:(1) The location and a description of the road;(2) The provisions of any special obligation notes intended by the commissioner to be secured, in whole or in part, by tolls charged on the road and any related trust agreements;(3) The anticipated amount of tolls to be charged and the duration of time the commissioner expects tolls to be charged on the road; and(4) Such other information that may be required by the Joint Committee on Government and Finance.
WV Code § 17-17A-6 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-6. Rights of Holders; Limitation on Liability of State

The state of West Virginia does hereby pledge to and agree with the holders of any notes issued under this article that the state will not limit or alter the rights hereby vested in the commissioner 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, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The commissioner is hereby authorized to include this pledge and agreement of the state in any agreement with the holders of such notes.The holder of any note, or the trustee therefor, shall have the right to bring suit for the payment of such note or to compel the enforcement of any agreement securing such note to the extent therein provided. Such notes shall be special obligations of the state, payable solely from the sources herein provided, and shall not be a general obligation debt or liability of the state or constitute any claim on its general revenues or taxing power. Neither the commissioner nor any other officer of the state executing notes or other agreements hereunder shall have any personal liability thereon or be subject to personal accountability therefor.
WV Code § 17-17A-7 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17A. Construction Financing for Surface Transportation Improvements|§17-17A-7. Legality for Investment; Tax Exemption

The notes 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.The notes 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 § 17-17B-1 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17B. State Transportation Infrastructure Fund Program|§17-17B-1. Short Title; Legislative Findings and Purpose

(a) This article may be known and cited as the "State Transportation Infrastructure Fund Program.(b) The Legislature finds and declares that new financing mechanisms will provide greater flexibility and additional funds for needed transportation infrastructure projects in the state. The creation of a financing mechanism, in conformance with the federal State infrastructure bank program, will enable the state, counties and municipalities to use federal and state highway funds to construct transportation projects eligible for assistance under the federal State infrastructure bank program.
WV Code § 17-17B-2 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17B. State Transportation Infrastructure Fund Program|§17-17B-2. Definitions

As used in this article, the following words and terms shall have the following meaning:(1) "Capitalized" means depositing funds as initial capital into a State Transportation Infrastructure Fund to establish the infrastructure fund.(2) "Commissioner" means the West Virginia Commissioner of Highways.(3) "Cooperative agreement" means written consent between the state and the United States Department of Transportation Secretary.(4) "Department" means the West Virginia Department of Transportation.(5) "Division" means the Division of Highways, a division within the West Virginia Department of Transportation.(6) "Initial assistance" means the first round of funds that are loaned or used for credit enhancement by the State Transportation Infrastructure Fund for projects eligible for assistance under this section.(7) "Loan" means any form of direct financial assistance from the infrastructure fund that is required to be repaid over a period of time and that is provided to a project sponsor for all or part of the costs of the project.(8) "US DOT Secretary" means the United States Department of Transportation Secretary.
WV Code § 17-17B-3 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17B. State Transportation Infrastructure Fund Program|§17-17B-3. Purpose and Scope

(a) There is hereby created in the State Treasury the West Virginia State Transportation Infrastructure Fund. The special fund shall be a revolving fund, to be administered by the commissioner and used for the purposes described in this article. The fund consists of certain federal and state highway funds and other funds eligible for deposit under applicable federal law, payments received by the division in connection with the State Transportation Infrastructure Fund, investment earnings on money in state transportation infrastructure fund accounts, and other funds as may be provided by law. Separate accounts may be established within the State Transportation Infrastructure Fund if required for its proper administration. The account shall retain all earnings and interest, and may not be expired into the General Revenue Fund at the end of the fiscal year.(b) The Commissioner of Highways shall use the State Transportation Infrastructure Fund to make loans to municipalities, counties, state agencies and quasi-state government agencies for eligible transportation projects. For purposes of this article, a project is an "eligible transportation project" and is "eligible for assistance" when it complies with the eligibility criteria established in the National Highway System Designation Act of 1995, Public Law 104-59, Section 350. Initial assistance provided with respect to a project from federal funds deposited into an infrastructure fund under this article may not be made in the form of a grant.
WV Code § 17-17B-4 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17B. State Transportation Infrastructure Fund Program|§17-17B-4. Authority to Enter Into Agreements

The loans shall be made upon such terms as the commissioner shall determine, including secured and unsecured loans, and in connection with the secured and unsecured loans. The commissioner may enter into loan agreements, subordination agreements and other agreements; accept notes and other forms of obligation to evidence the indebtedness, and mortgages, liens, pledges, assignments or other security interest to secure the indebtedness, which may be prior or subordinate to or on a parity with other indebtedness, obligations, mortgages, pledges, assignments, other security interests or liens or encumbrances, and take such actions as are appropriate to protect the security and safeguard against losses, including foreclosure and the funds for other projects.
WV Code § 17-17B-5 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 17B. State Transportation Infrastructure Fund Program|§17-17B-5. Enforcement of Provisions by Commissioner; Rules

It is the function and duty of the Commissioner of Highways to administer and enforce the provisions of this article, and in the performance of duties hereunder, the commissioner may assign to other employees in the department, such duties as he or she may deem proper. The commissioner may propose rules for legislative approval in accordance with the provisions of article three, chapter twenty-nine-a of this code relating to the implementation and exercise of the authority granted by this article, including rules permitting the State of West Virginia to comply with the provisions of Title 23, Chapter 6 of the United States Code relating to the federal State infrastructure bank program; and for receiving, reviewing, evaluating and selecting projects for which financial assistance will be approved.
WV Code § 17-18-1 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 18. Ferries and Wharves|§17-18-1. Discontinuance of Ferry by Disuse

Every ferry established and not discontinued before this code takes effect may continue to be kept. But if any such ferry, or any ferry that may hereafter be established, be disused for two years and six months, and any part of such time be after this code takes effect, it shall, by reason of such disuse, be ipso facto discontinued, without any judicial or other proceeding for that purpose.
WV Code § 17-18-2 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 18. Ferries and Wharves|§17-18-2. Establishment of Ferry -- Application; Notice

A person desiring to establish a ferry across any watercourse, whether it be a stream bounding the state or not, who owns or has contracted for the use of land at the point at which he wishes to establish the same, may present his application for the privilege to the county court of the county, or either of the counties, in or from which he desires to establish such ferry. But notice that the application has been presented, or of the intention to present the same, shall be posted at the front door of the courthouse, and three other public places in the district, in or from which such ferry is proposed, three weeks at least before the application is acted upon.
WV Code § 17-18-3 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 18. Ferries and Wharves|§17-18-3. Same -- View of Ferry Site

The county court, after notice has been given as aforesaid, shall appoint two or more viewers, or a committee of their own body, to view the place and report the advantages and disadvantages which, in their opinion, will result, as well to individuals as to the public, from the proposed ferry, and the facts and circumstances that may be useful to enable the court to determine whether the ferry ought to be established or not. The expenses of the proceeding shall be ascertained by the court and paid by the applicant. When proper, they shall cause notice of the pendency of such application to be given, in such manner as they may direct, to the parties interested, or any of them.
WV Code § 17-18-4 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 18. Ferries and Wharves|§17-18-4. Same -- Decision on Application; Regulations for Ferries

Upon such report, and on any other proper evidence, the court may reject the application, or may, unless the watercourse at such place be the division line between two counties, grant leave to establish such ferry, and prescribe, subject to revision and alteration by the Public Service Commission, the number of hands and the number and kind of boats to be kept, and the rates of ferriage for persons and things at the same.
WV Code § 17-18-5 (2021)
2021 West Virginia Code|Chapter 17. Roads and Highways|Article 18. Ferries and Wharves|§17-18-5. Same -- Ferry Where Watercourse Is County Boundary

If, however, the watercourse be such division line, and the court be of opinion that the application ought to be granted, they shall certify such opinion to the county court of the other county, with the number of hands and the number and kind of boats, and the rates of ferriage, which they deem proper at the same, subject to revision and alteration by the Public Service Commission. The applicant may then apply to the county court of such other county, after notice therein as prescribed in section two of this article, and such court, upon the report already made, and any other proper evidence, may reject the application or grant the same on the terms prescribed by the other court.