§8-29A-9. Disposition of surplus.
If the authority should realize a surplus, whether from
operating the airport or leasing it for operation, over and above
the amount required for the maintenance, improvement and operation
of the airport and for meeting all required payments on its
obligations, it shall set aside such reserve for future operations,
improvements and contingencies as it shall deem proper and shall
then apply the residue of such surplus, if any, to the payment of
any recognized and established obligations not then due; and after
all such recognized and established obligations have been paid off
and discharged in full, the authority shall, at the end of each
fiscal year, set aside the reserve for future operations,
improvements and contingencies, as aforesaid, and then pay the
residue of such surplus, if any, to the county commission, to be
used by the county commission for general county purposes.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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