HOUSE CONCURRENT RESOLUTION NO. 203
(By Mr. Speaker, Mr. Kiss, and Delegate Trump)
[By Request of the Executive]
[Introduced June 9, 2002; referred to the Committee on Finance.]
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Providing for the issuance of not to exceed three billion nine
hundred million dollars of bonds pursuant to article eight,
chapter twelve of the code of West Virginia.
Resolved by the Legislature of West Virginia:
That pension bonds in the principal amount not to exceed three
billion nine hundred million dollars are authorized to be sold by
the Governor during the time period set forth in section four,
article eight, chapter twelve of the code of West Virginia; and, be
it
Further Resolved, That the terms of the bonds shall be
determined by the Governor and as set forth in the trust indenture
approved by the Governor; and, be it
Further Resolved, That 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 set forth below: Provided, That before the sale of any such bonds the Governor shall deliver the
written findings required by section five, article eight, chapter
twelve of the code of West Virginia; and, be it
Further Resolved, That the net proceeds of sales of all bonds
herein authorized shall be paid to the consolidated public
retirement board pursuant to section seven, article eight, chapter
twelve of the code of West Virginia and used for the purposes set
forth in article eight of said chapter.