§16-15-19. Power to issue bonds; how bonds secured.
An authority shall have power to issue bonds from time to
time, in its discretion, for any of its corporate purposes. An
authority shall also have power to issue or exchange refunding
bonds for the purpose of paying, retiring, extending or renewing
bonds previously issued by it. An authority may issue such types
of bonds as it may determine, including without limiting the
generality of the foregoing, bonds on which the principal and
interest are payable from income and revenues of the authority and
from grants or contributions from the federal government or other
source. Such income and revenues securing the bonds may be:
Exclusively the income and revenues of the housing developments
financed, in whole or in part, with the proceeds of such bonds;
exclusively the income and revenues of certain designated housing
developments, whether or not they are financed, in whole or in
part, with the proceeds of such bonds; or the income and revenues
of the authority generally. Any such bonds may be additionally
secured by a pledge of any income or revenues of the authority, or
a mortgage of any housing development, developments or other
property of the authority.
Note: WV Code updated with legislation passed through the 2013 1st Special Session
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