WVC 13 - 2 E- 9
§13-2E-9. Call of revenue bonds for redemption.
Where any revenue bonds to be refunded are not to be
surrendered for exchange or payment and are not to be paid at
maturity with escrowed obligations, but are to be paid from such
source prior to maturity pursuant to call for redemption
exercised under a right of redemption reserved in such revenue
bonds, the governing body of the public body shall, prior to the
issuance of the refunding bonds, determine which redemption date
or dates shall be used, call such revenue bonds for redemption
and provide for the giving of the notice of redemption required
by the proceedings authorizing such revenue bonds. Where such
notice is to be given at a time subsequent to the issuance of the
refunding bonds, the necessary notices may be deposited with the
state sinking fund commission or the bank acting as escrow agent
of the refunding bond proceeds and the escrow agent appropriately
instructed and authorized to give the required notices at the
prescribed time or times. If any officer of the public body
signing any such notice shall no longer be in office at the time
of the utilization of the notice, the notice shall nevertheless
be valid and effective for its intended purpose.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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