13-2C-1 Short title
13-2C-2 Legislative findings
13-2C-3 Definitions
13-2C-3a Continuation of industrial revenue bond allocation review committee; appointment, terms of members; voting; expenses; duties
13-2C-4 Powers conferred on counties and municipalities
13-2C-5 Location of industrial projects or commercial projects
13-2C-6 Joint establishment by two or more governmental bodies
13-2C-7 Bonds issued to finance industrial project or commercial project
13-2C-8 Security for bonds
13-2C-9 Requirements respecting lease, sale or financing of an industrial project or commercial project
13-2C-10 Redemption of bonds
13-2C-11 Refunding bonds
13-2C-12 Use of proceeds from sale of bonds
13-2C-13 No contribution by county or municipality
13-2C-14 Bonds made legal investments
13-2C-15 Exemption from taxation
13-2C-16 Construction of article
13-2C-17 No notice, consent or publication required
13-2C-18 Severability
13-2C-19 Public officials exempt from personal liability
13-2C-20 Prohibition of financial interest of public officials
13-2C-21 Ceiling on issuance of private activity bonds; establishing procedure for allocation and disbursements; reservation of funds; limitations; unused allocation; expirations and carryovers

Terms Used In West Virginia Code > Chapter 13 > Article 2C - Industrial Development and Commercial Development Bond Act

  • Commercial project: means real or personal property or both, including any buildings, improvements, additions, extensions, replacements, appurtenances, lands, rights in land, water rights, franchises, machinery, equipment, furnishings, landscaping, utilities, railroad spurs and sidings, parking facilities, farms, parking wharfs, approaches and roadways or any number or combination of the foregoing necessary or desirable in connection with a commercial enterprise or incidental thereto and includes, without limiting the generality of the foregoing, hotels and motels and related facilities, nursing homes and other health care facilities, facilities for participatory or spectator sports, conventions or trade show facilities, airport facilities, shopping centers, office buildings, residential real property for family units, and mass commuting facilities, dormitories, apartments and other housing facilities for the students and faculties of institutions of higher education, instructional buildings and other facilities used in connection with nonpublic institutions of higher education, facilities providing housing for the elderly, including, but not limited to, life care facilities, congregate living facilities and adult residential facilities. See West Virginia Code 13-2C-3
  • Committee: means the industrial revenue bond allocation committee created by section three-a of this article. See West Virginia Code 13-2C-3
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County commission: means the governmental body created by section twenty-two, article VIII of the West Virginia Constitution. See West Virginia Code 13-2C-3
  • County court: includes any existing tribunal created in lieu of a county commission. See West Virginia Code 2-2-10
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governmental body: means any city, town, village, county, public service district, sanitary district, political subdivision or any other similar public entity now or hereafter created, having power to issue revenue bonds, and the West Virginia public energy authority. See West Virginia Code 13-2C-3
  • Industrial pollution: means any gaseous, liquid or solid waste substances or adverse thermal effects or combinations thereof resulting from any process of industry, manufacturing, trade or business or from the development, processing or recovery of any natural resources which pollute the land, water or air of this state. See West Virginia Code 13-2C-3
  • Industrial project: means any site, structure, building, industrial park, water dock, wharf or port facilities, fixtures, machinery, equipment and related facility, including real and personal property, or any combination thereof, suitable as a factory, mill or shop, or processing, assembly, manufacturing or fabricating project, or warehouse or distribution facility, or facilities for the extraction, production or distribution of mineral resources and related facilities, or sewage or solid waste disposal facilities, or facilities for the local furnishing of electric energy or gas, or facilities for the furnishing of water, if available on reasonable demand to members of the general public, or storage or training facilities related to any of the foregoing, or research or development facility or pollution abatement or control facility and includes the reconstruction, modernization and modification of any existing industrial project for the abatement or control of industrial pollution. See West Virginia Code 13-2C-3
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Personal property: All property that is not real property.
  • personal property: includes goods, chattels, real and personal, money, credits, investments, and the evidences thereof. See West Virginia Code 2-2-10
  • Quorum: The number of legislators that must be present to do business.
  • Town: includes a city, village or town, and the word "council" any body or board, whether composed of one or more branches, which is authorized to make ordinances for the government of a city, town, or village. See West Virginia Code 2-2-10
  • Trustee: A person or institution holding and administering property in trust.