WVC 17 - 17 - 35
§17-17-35. Authorization for municipalities to maintain ownership
of and continue charging tolls for toll bridges upon
the payment of all bonds issued to acquire and
construct or refinance the bridge and the interest
thereon; permitted use of tolls collected.
Any municipality which owns and operates a toll bridge as of
the first day of January, one thousand nine hundred ninety-eight,
may, at the sole discretion of the municipality, and upon adoption
of a resolution to such effect by the council of such municipality
and subject to the requirements of section thirty-six of this
article, retain ownership of the toll bridge and may establish and
retain toll charges for the use thereof after all bonds issued for
the acquisition and construction of the bridge, all bonds issued to
refinance such bonds and all interest on such bonds have been paid
or such payment has been provided for by defeasement or otherwise.
All such tolls collected after a municipality determines to
maintain ownership of a toll bridge and the bonds issued for the
acquisition and construction of such bridge or issued to refinance
such bonds and all interest thereon have been paid or such payment
has been provided for by defeasement or otherwise, shall be applied
first to provide a fund sufficient to pay the cost of maintaining,
repairing, operating and demolishing such bridge pursuant to
section thirty-six of this article, and thereafter, for any legal
purpose of the municipality. Collected tolls remaining after
providing for the payment of the cost of maintaining, repairing,operating and demolishing such bridge may be pledged or otherwise
encumbered to effectuate any municipal purpose.
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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