SENATE CONCURRENT RESOLUTION NO. 13
(By Senator Craigo, Anderson, Bailey, Ball, Boley, Bowman,
Deem, Dittmar, Edgell, Fanning, Helmick, Jackson, Kessler,
Love, McCabe, McKenzie, Minard, Minear, Mitchell, Oliverio,
Plymale, Prezioso, Redd, Ross, Schoonover, Sharpe, Snyder,
Sprouse, Unger, Walker, Wooton and Tomblin, Mr. President)
)
Providing for the issuance of one hundred ten million dollars of
bonds pursuant to the "Safe Roads Amendment of 1996" and
article twenty-six, chapter seventeen of the code of West
Virginia.
Resolved by the Legislature of West Virginia:
That state road bonds in the par value of one hundred ten
million dollars are authorized to be sold by the Governor during
the fiscal year ending the thirtieth day of June, two thousand.
The bonds may be issued by the Governor in such amounts, in
registered form, in such denominations, at such times during that
fiscal year and bearing the date or dates as the Governor may
determine; and, be it
Further Resolved, That all bonds shall be payable at the
office of the Treasurer of the State of West Virginia, or, at the
option of the holder, at some bank in the city of Charleston to be designated by the Governor. The bonds shall mature on dates
and at times as the Governor shall determine. The bonds shall
bear interest at a rate not exceeding seven percent per annum,
payable semiannually. The Treasurer of the State of West
Virginia shall issue his or her check for the interest then due
on the same dates each year and mail it to the registered owner
at the addresses shown by the record of registration; and, be it
Further Resolved, That the bonds and coupons shall be
engraved and the bonds shall be signed on behalf of the State of
West Virginia, by the Treasurer thereof, under the Great Seal of
the state, and by the Auditor of the state. The bonds may be
redeemable on a date or dates prior to maturity as determined by
the Governor; and, be it
Further Resolved, That the Governor shall sell the bonds
herein mentioned at a time or times during the fiscal year as he
may determine necessary to provide funds for road construction
and maintenanceimprovement purposes, as herein provided, upon recommendation
of the Commissioner of Highways; and, be it
Further Resolved, That the proceeds of all sales of bonds
herein authorized shall be paid into the state road fund created
by section one, article three, chapter seventeen of the code of
West Virginia, one thousand nine hundred thirty-one, as amended,
and used for the purposes set forth in article twenty-six of said
chapter and in the "Safe Roads Amendment of 1996".