West Virginia Code 12-8-9 – Refunding bonds
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Subject to the provisions of the outstanding bonds issued under this article and subject to the provisions of this article, the governor shall have the power to refund any outstanding bonds, whether the obligation refunded represents principal or interest, in whole or in part, at any time.
Terms Used In West Virginia Code 12-8-9
- Bonds: means bonds, notes, refunding notes and bonds, or other obligations of the state issued by the Governor pursuant to this article. See West Virginia Code 12-8-3
- Executive order: means an executive order issued by the Governor to authorize the issuance of bonds as provided in this article. See West Virginia Code 12-8-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
Refunding bonds shall mature at such time or times, which shall not exceed the longest original term of the bonds as issued, as the governor shall determine by executive order issued by the governor, which executive order shall be received by the secretary of state and filed in the state register pursuant to section three, article two, chapter twenty-nine-a of this code.