§7-5A-5. Creation of sinking fund; loan may be repaid after five
The said county courts shall set apart a sufficient amount
from the taxes, levied and collected annually, to create a sinking
fund for the repayment of the aforesaid loan on the basis of five
percent of the principal plus the interest thereon annually. Any
county court, after a period of five years from the date of said
loan, if it has sufficient funds on hand, may pay off and discharge
the whole amount of the money so borrowed.
Note: WV Code updated with legislation passed through the 2013 1st Special Session
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