West Virginia Code 13-2E-8 – Authority for escrow agreement
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The governing body of any public body shall have power to enter into such escrow agreements and to insert therein such protective and other covenants and provisions as it may consider necessary to permit the carrying out of the provisions of this article and to insure the prompt payment of principal of and interest and redemption premiums on the revenue bonds refunded.
Terms Used In West Virginia Code 13-2E-8
- Escrow: Money given to a third party to be held for payment until certain conditions are met.