HOUSE CONCURRENT RESOLUTION 9
(By Mr. Speaker, Mr. Kiss, and Delegate Trump)
[By Request of the Executive]
Providing for the issuance of one hundred ten million dollars of
bonds pursuant to the "Safe Roads Amendment of 1996" and
chapter seventeen, article twenty-six of the code of West
Virginia, one thousand nine hundred thirty-one, as amended.
Resolved by the Legislature of West Virginia:
That state road bonds in the principal amount of one hundred
ten million dollars are authorized to be sold by the governor
during the fiscal year ending the thirtieth day of June, in the
year two thousand one. The bonds shall be issued in registered
form, in such denominations, maturing at such times and bear such
date or dates as the governor may determine.
All such bonds shall be payable at the office of the treasurer
of the State of West Virginia, or at some bank in the city of
Charleston to be designated by the governor. The bonds shall bear
interest at rates and be payable at the time, place and in amounts
as determined by the governor. The state treasurer shall pay the
interest then due on the bonds to the registered owners thereon, at
the addresses shown by the record of registration.
The bonds shall be signed as provided in section two, article twenty-six, chapter seventeen of the code of West Virginia.
The bonds may be redeemable on such date or dates prior to
maturity as determined by the governor.
The governor shall sell the bonds herein mentioned at such
time or times in such amounts, not exceeding the aggregate
principal amount described above, at such prices during the fiscal
year as he may determine necessary to provide funds for the
purposes provided below, upon recommendation of the commissioner of
The net proceeds of sale of all 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, chapter seventeen of the code of West
Virginia and in the Safe Roads Amendment of 1996.
NOTE: The purpose of this resolution is to provide for the
issuance of one hundred ten million dollars of bonds pursuant to
the "Safe Roads Amendment of 1996."