§16-15-10. Amount and nature of indebtedness; rights of creditors.
Subject to the restrictions set forth in this article, the
authority may incur any indebtedness and issue any obligations and
give any security therefor which it may deem necessary or advisable
in connection with any development undertaken by it. No statutory
limitation with respect to the nature or amount of indebtedness
which may be incurred by municipalities or other public bodies
shall apply to indebtedness of an authority, unless the Legislature
shall specifically so provide. No indebtedness of any nature of an
authority shall constitute a debt or obligation of a municipality
or the state or any other subdivision or authority or
instrumentality thereof, or a charge against any property of such
municipality, the state, or other subdivision, agency or
instrumentality thereof. No obligation incurred by the authority
shall give any right against any commissioner of such authority,
but a commissioner shall be liable only for his own malfeasance.
The rights of creditors of an authority shall be solely against
such authority as a corporate body and shall be satisfied only out
of property held by it in its corporate capacity, and the
enforcement of such rights shall be subject to all the provisions
of this article.
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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