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WV Code § 18-11D-13 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11D. Revenue Bonds for West Virginia University Athletic Facilities|§18-11D-13. Exemption From Taxation

The exercise of the powers granted to the board by this article will be in all respects for the benefit of the students and the faculty and other employees at West Virginia University and the other people of the state, for the improvement of their safety, convenience and welfare, and is a public purpose. As the operation and maintenance of the football stadium, the athletic facilities building and related facilities at West Virginia University constitute the performance of essential governmental functions, the board shall not be required to pay any taxes or assessments upon any property acquired or used by the board or upon the income therefrom. All bonds and notes of the state issued by the board, and all interest and income thereon, shall be exempt from all taxation by the state and any county, municipality, political subdivision or agency thereof, except inheritance taxes.
WV Code § 18-11D-14 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11D. Revenue Bonds for West Virginia University Athletic Facilities|§18-11D-14. Article Regarded as Supplementary

This article shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded as supplementary and additional to powers conferred by other laws.
WV Code § 18-11D-15 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11D. Revenue Bonds for West Virginia University Athletic Facilities|§18-11D-15. Liberal Construction

This article, being necessary for the safety, convenience and welfare of the students and the faculty and other employees at West Virginia University and the other people of the state, shall be liberally construed to effectuate the purposes hereof.
WV Code § 18-11E-2 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-2. Trustee for Bondholders or Noteholders; Contents of Trust Agreement

In the discretion of the board, any bonds, refunding bonds or notes issued by the board may be secured by a trust agreement between the board and a corporate trustee, which trustee may be any trust company or banking institution having the powers of a trust company within or without the state. Any such trust agreement may contain provisions as set forth in section one of this article with respect to the resolution. All expenses incurred in carrying out such agreement may be treated as a part of the cost of constructing, reconstructing, remodeling, repairing, improving, extending, equipping or furnishing the football stadium or other athletic facility at Marshall University affected by such agreement.
WV Code § 18-11E-3 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-3. Payment of Principal of and Premium, if Any, and Interest on Bonds and Notes From All or Any Portion of the Moneys Derived From Admission Fees to Athletic Contests at Marshall University; Approval of Director of Athletics

Whenever bonds or notes are issued for financing the cost of any or all of the following: Constructing, reconstructing, remodeling, repairing, improving, extending, equipping or furnishing the football stadium or other athletic facilities of Marshall University, the board may, with the written approval of the director of athletics at Marshall University, pledge to the payment of the principal of and premium, if any, and interest on said bonds or notes all or any portion of the moneys derived from admission fees to athletic contests and deposited in the athletic accounts at Marshall University: Provided, That said approval of the director of athletics must specify all or any said portions of the moneys to be pledged: Provided, however, That no fees paid by students other than the regular student activity fee may be so pledged.
WV Code § 18-11E-4 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-4. Enforcement of Payment and Validity of Bonds and Notes

(a) The provisions of this article and any resolution or trust agreement shall continue in effect until the principal of and interest on the bonds or notes of the state issued by the board have been fully paid, and the duties of the board under this article and any resolution or trust agreement shall be enforceable by any bondholder or noteholder by mandamus or other appropriate action in any court of competent jurisdiction.(b) The resolution authorizing the bonds or notes shall provide that such bonds or notes shall contain a recital that they are issued pursuant to this article, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.
WV Code § 18-11E-5 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-5. Pledges; Time; Liens; Recordation

Any pledge made by the board shall be valid and binding from the time the pledge is made: Provided, That the pledge by the board of all or any portion of the moneys derived from admission fees to athletic contests and deposited into athletic accounts at Marshall University shall be subject to the written approval of the director of athletics at Marshall University. The moneys so pledged and thereafter received by the board shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act. The lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the board, irrespective of whether such parties have notice thereof.
WV Code § 18-11E-6 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-6. Refunding Bonds

Any bonds issued under the provisions of this article and at any time outstanding may at any time and from time to time be refunded by the board by the issuance of refunding bonds of the state in such amount as it may deem necessary to refund the principal of the bonds so to be refunded, together with any unpaid interest thereon; to provide additional funds for the purposes authorized by this article; and to pay any premiums and commissions necessary to be paid in connection therewith. Any such 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, together with the interest on such proceeds, for the payment of the bonds to be refunded thereby and the interest thereon as the same come due, 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. Any refunding bonds issued under the authority of this section shall be payable from the revenues out of which the bonds to be refunded thereby were payable, from other moneys or from the principal of and interest on or other investment yield from investments or proceeds of bonds or other applicable funds and moneys, including investments of proceeds of any refunding bonds, and shall be subject to the provisions contained in and shall be secured in accordance with this article.
WV Code § 18-11E-7 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-7. Purchase and Cancellation of Bonds or Notes

The board, subject to such agreements with bondholders or noteholders as may then exist, shall have the power, out of any funds available therefor, to purchase bonds, including refunding bonds or notes of the state issued by the board. If the bonds or notes 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 bonds or notes 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 bonds or notes become subject to redemption plus accrued interest to such date. Upon such purchase, such bonds or notes shall be canceled.
WV Code § 18-11E-8 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-8. Federal and Private Assistance

The board is authorized and empowered to accept loans or grants or temporary advances for the purpose of paying part or all of the cost of constructing, reconstructing, remodeling, repairing, improving, extending, equipping or furnishing the football stadium or other athletic facilities of Marshall University and the other purposes herein authorized from the United States of America or such federal or public agency or department of the United States or any private agency, corporation or individual, which loans or temporary advances may be repaid out of the proceeds of the bonds authorized to be issued under the provisions of this article, and to enter into the necessary contracts and agreements to carry out the purposes hereof with the United States of America or such federal or public agency or department of the United States or with any private agency, corporation or individual.
WV Code § 18-11E-9 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-9. Vested Rights; Impairment

The state pledges and agrees with the holders of any bonds or notes issued under this article that the state will not limit or alter the rights vested in the board to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of the holders, until the bonds or notes, together with the interest thereon, 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 board is authorized to include his pledge and agreement of the state in any agreement with the holders of such bonds or notes.
WV Code § 18-11E-10 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-10. Bonds and Notes Not Debt of State, County, Municipality or Any Political Subdivision; Expenses Incurred Pursuant to Article

Bonds, refunding bonds and notes issued under the authority of this article and any coupons in connection therewith shall not constitute a debt or a pledge of the faith and credit or taxing power of the state or of any county, municipality or any other political subdivision of the state, and the holders and owners thereof shall have no right to have taxes levied by the Legislature or the taxing authority of any county, municipality or any other political subdivision of the state for the payment of the principal thereof or interest thereon, but such bonds and notes shall be payable solely from the revenues and funds pledged for their payment as authorized by this article: Provided, That notes issued in anticipation of the issuance of bonds or bonds being refunded may be paid from the proceeds of bonds which are payable solely from revenues and funds pledged for their payment as authorized by this article. All such bonds and notes shall contain on the face thereof a statement to the effect that the bonds or notes, as to both principal and interest, are not debts of the state or any county, municipality or political subdivision thereof, but are payable solely from revenues and funds pledged for their payment.All expenses incurred in carrying out the provisions of this article shall be payable solely from funds provided under the authority of this article. This article does not authorize the board to incur indebtedness or liability on behalf of or payable by the state or any county, municipality or any other political subdivision.
WV Code § 18-11E-11 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-11. Negotiability of Bonds and Notes

Other provisions of this code to the contrary notwithstanding, the bonds or notes authorized to be issued by this article are negotiable instruments within the meaning of and for all the purposes of the uniform commercial code, subject only to the provisions of the bonds or notes for registration.
WV Code § 18-11E-12 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-12. Bonds and Notes Legal Investments

The provisions of sections nine and ten, article six, chapter twelve of this code to the contrary notwithstanding, the bonds and notes of the state issued by the board are securities in which all public officers and bodies of the state, including the West Virginia state Board of Investments, all municipalities and other political subdivisions of the state, all insurance companies and associations and other persons carrying on an insurance business, including domestic for life and domestic not for life insurance companies, all banks, trust companies, societies for savings, building and loan associations, savings and loan associations, deposit guarantee associations and investment companies, all administrators, guardians, executors, trustees and other fiduciaries and all other persons whatsoever who are 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 § 18-11E-13 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-13. Exemption From Taxation

The exercise of the powers granted to the board by this article will be in all respects for the benefit of the students and the faculty and other employees at Marshall University and the other people of the state, for the improvement of their safety, convenience and welfare, and is a public purpose. As the operation and maintenance of the football stadium or other athletic facilities at Marshall University constitute the performance of essential governmental functions, the board shall not be required to pay any taxes or assessments upon any property acquired or used by the board or upon the income therefrom. All bonds and notes of the state issued by the board, and all interest and income thereon, shall be exempt from all taxation by the state and any county, municipality, political subdivision or agency thereof, except inheritance taxes.
WV Code § 18-11E-14 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-14. Article Regarded as Supplementary

This article shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded as supplementary and additional to powers conferred by other laws.
WV Code § 18-11E-15 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 11E. Revenue Bonds for Marshall University Athletic Facilities|§18-11E-15. Liberal Construction

This article, being necessary for the safety, convenience and welfare of the students and the faculty and other employees at Marshall University and the other people of the state, shall be liberally construed to effectuate the purposes hereof.
WV Code § 18-12-1 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12. State Teachers' Colleges|§18-12-1. Change of Names; Management; Continuation of Functions; Courses and Degrees; Rules and Regulations; Qualifications of President and Teachers

The state teachers' colleges heretofore established and known as state normal schools shall be continued and shall be known respectively, as follows:"Fairmont State College," "Shepherd College,""Glenville State College,""West Liberty State College" and "Concord College." The educational affairs of the aforesaid institutions shall be under the control, supervision and management of the state Board of Education, as provided in section thirteen, article two of this chapter, and their financial and business affairs shall be under the charge and control of the state commissioner of public institutions, as provided in section four, article one, chapter twenty-five of this code. The functions of these colleges shall continue to be the preparation of teachers through such courses of study as the faculties thereof may prescribe with the approval of the state Board of Education, and also the offering of such curricula in general and vocational education as the state Board of Education may direct or approve. The colleges are authorized to grant the degrees of bachelor of arts and bachelor of science to students completing the curricula for such degrees as approved by the state Board of Education. The rules and regulations made by the presidents and faculties of these colleges for their general government, for the admission of students thereto, the standards of scholarship to be maintained therein and the graduation of students therefrom shall be submitted to the state Board of Education for its approval. The president and teachers of each of the colleges shall be persons of broad and liberal education, as evidenced by the possession of a bachelor's degree from a standard college or university, or the equivalent thereof, as a minimum requirement.
WV Code § 18-12A-1 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-1. Authority of Board of Regents to Issue Revenue Bonds for Certain Capital Improvements

The West Virginia board of regents shall have authority, as provided in this article, to issue revenue bonds of the state, not to exceed $8,500,000 in principal amount thereof, which shall be in addition to the revenue bonds heretofore authorized pursuant to this article, to finance the cost of providing a new classroom and office building, an addition to the library, renovation of administration building, additional land for a new student center building for Marshall University; and to acquire land and to improve and add parking, educational and athletic facilities. The principal of and interest on such bonds shall be payable solely from the special nonrevolving fund herein provided for such payment. The costs of any such building or buildings or improvements shall include the cost of acquisition of land, the construction and equipment of any such building or buildings, and the provision of roads, utilities and other services necessary, appurtenant or incidental to such building or buildings; and shall also include all other charges or expenses necessary, appurtenant or incidental to the construction, financing and placing in operation of any such building or buildings.
WV Code § 18-12A-4 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-4. Trust Agreement for Holders of Bonds

The board may enter into an agreement or agreements with any trust company, or with any bank having the powers of a trust company, either within or outside the state, as trustee for the holders of bonds issued hereunder, setting forth therein such duties of the board in respect to the payment of the bonds, the fixing, establishing and collecting of the fees hereinbefore referred to, the acquisition, construction, improvement, maintenance, operation, repair and insurance of such building or buildings, the conservation and application of all moneys, the security for moneys on hand or on deposit, and the rights and remedies of the trustee and the holders of the bonds, as may be agreed upon with the original purchasers of such bonds; and including therein provisions restricting the individual right of action of bondholders as is customary in trust agreements respecting bonds and debentures of corporations, protecting and enforcing the rights and remedies of the trustee and the bondholders, and providing for approval by the original purchasers of the bonds of the appointment of consulting engineers and of the security given by those who contract to construct such building or buildings, and for approval by the consulting engineers of all contracts for construction. Any such agreement entered into by the board shall be binding in all respects on such board and its successors from time to time in accordance with its terms; and all the provisions thereof shall be enforceable by appropriate proceedings at law or in equity, or otherwise.
WV Code § 18-12A-5 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-5. Sinking Fund for Payment of Bonds

From the special Marshall University capital improvements fund the board shall make periodic payments to the state sinking fund commission in an amount sufficient to meet the requirements of any issue of bonds sold under the provisions of this article, as specified in the resolution of the board authorizing the issue and in any trust agreement entered into in connection therewith. The payments so made shall be placed by the commission in a special sinking fund which is hereby pledged to and charged with the payment of the principal of the bonds of such issue and the interest thereon, and to the redemption or repurchase of such bonds, such sinking fund to be a fund for all bonds of such issue without distinction or priority of one over another. The moneys in the special sinking fund, less such reserve for payment of principal and interest as may be required by the resolution of the board authorizing the issue and any trust agreement made in connection therewith, may be used for the redemption of any of the outstanding bonds payable from such fund which by their terms are then redeemable, or for the purchase of bonds at the market price, but at not exceeding the price, if any, at which such bonds shall be redeemable on the next ensuing date upon which such bonds are redeemable prior to maturity, and all bonds redeemed or purchased shall forthwith be cancelled and shall not again be issued.
WV Code § 18-12A-6 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-6. Credit of State Not Pledged

No provisions of this article shall be construed to authorize the board at any time or in any manner to pledge the credit or taxing power of the state, nor shall any of the obligations or debts created by the board under the authority herein granted be deemed to be obligations of the state.
WV Code § 18-12A-7 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-7. Bonds Exempt From Taxation

All bonds issued by the board under the provisions of this article shall be exempt from taxation by the State of West Virginia, or by any county, school district or municipality thereof.
WV Code § 18-12A-8 (2021)
2021 West Virginia Code|Chapter 18. Education|Article 12A. Revenue Bonds for Marshall University Capital Improvements|§18-12A-8. Supplemental Powers Conferred; Conflicting Laws Superseded

The powers conferred by this article shall be in addition and supplemental to the existing powers of the Board of Education. The provisions of any other law or laws conflicting with the provisions of this article shall be and the same are hereby superseded to the extent of any such conflict.