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Chapter 8     Entire Code
‹ Chapter 07A  |  Chapter 09 › Printer Friendly Versions
Chapter 8  |  Article 8 - 37  |  Section 1

1 - PURPOSE AND SHORT TITLE; DEFINI

2 - CREATION OF MUNICIPALITIES

3 - FRAMING AND ADOPTING AN ORIGINA

3A - GOVERNMENT OF CLASS IV TOWNS O

4 - FRAMING AND ADOPTING A CHARTER

5 - ELECTION, APPOINTMENT, QUALIFIC

6 - ANNEXATION

7 - DECREASE OF CORPORATE LIMITS

8 - CONSOLIDATION OF MUNICIPALITIES

9 - PROCEEDINGS OF GOVERNING BODIES

10 - POWERS AND DUTIES OF CERTAIN

11 - POWERS AND DUTIES WITH RESPEC

12 - GENERAL AND SPECIFIC POWERS,

13 - TAXATION AND FINANCE

13A - BUSINESS IMPROVEMENT DISTRIC

13B - DOWNTOWN REDEVELOPMENT DISTR

13C - MUNICIPAL TAX IN LIEU OF BUS

14 - LAW AND ORDER; POLICE FORCE O

14A - MUNICIPAL POLICE OFFICERS AN

15 - FIRE FIGHTING; FIRE COMPANIES

15A - STANDARDS FOR PROFESSIONAL F

16 - MUNICIPAL PUBLIC WORKS; REVEN

17 - LOW COST IMPROVEMENTS

18 - ASSESSMENTS TO IMPROVE STREET

19 - MUNICIPAL AND COUNTY WATERWOR

20 - COMBINED SYSTEMS

20A - NEIGHBORHOOD REHABILITATION

21 - BOARD OF PARK AND RECREATION

22 - RETIREMENT BENEFITS GENERALLY

22 A - WEST VIRGINIA MUNICIPAL POL

23 - INTERGOVERNMENTAL RELATIONS -

24 - PLANNING AND ZONING

25 - INTERGOVERNMENTAL RELATIONS -

26 - INTERGOVERNMENTAL RELATIONS -

26A - MUNICIPAL AND COUNTY HISTORI

27 - INTERGOVERNMENTAL RELATIONS -

27A - INTERGOVERNMENTAL RELATIONS

28 - INTERGOVERNMENTAL RELATIONS -

29 - INTERGOVERNMENTAL RELATIONS -

29A - COUNTY AIRPORT AUTHORITIES

29B - AIRPORT SECURITY

30 - INTERGOVERNMENTAL RELATIONS -

31 - INTERGOVERNMENTAL RELATIONS -

32 - INTERGOVERNMENTAL RELATIONS -

33 - INTERGOVERNMENTAL RELATIONS -

34 - JUDICIAL REVIEW

35 - DISSOLUTION OF MUNICIPALITIES

36 - CONSTITUTIONALITY AND SEVERAB

37 - MUNICIPAL FINANCIAL STABILIZA
    8 - 37 - 1
    8 - 37 - 2
    8 - 37 - 3
    8 - 37 - 4

38 - MUNICIPAL ECONOMIC OPPORTUNIT

WVC 8- CHAPTER 8. MUNICIPAL CORPORATIONS.
WVC 8 - 37 - ARTICLE 37. MUNICIPAL FINANCIAL STABILIZATION FUND ACT.

WVC 8 - 37 - 1 §8-37-1. Short title.
This act may be known and cited as the "Municipal Financial Stabilization Fund Act".

WVC 8 - 37 - 2 §8-37-2. Findings and declarations.
The Legislature finds and declares that:

(1) Municipalities should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and

(2) The creation, maintenance and use of a financial stabilization fund will provide municipalities with assistance to meet these challenges, as well as enable them to improve their financial management and practices.

WVC 8 - 37 - 3 §8-37-3. Budget stabilization fund; creation; appropriation; maximum.
(a) A municipality may create a financial stabilization fund by a majority vote of its governing body. The fund may receive appropriations, gifts, grants and any other funds made available.

(b) The governing body may appropriate a sum to the fund from any surplus in the general fund at the end of each fiscal year or from any other money available.

(c) The amount of money in the fund may not exceed thirty percent of the municipality's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the governing body shall transfer the excess to any fund it considers appropriate.

WVC 8 - 37 - 4 §8-37-4. Fund investment; usage.
(a) The governing body may invest the money in the fund as it considers appropriate, with the earnings retained by the fund.

(b) The governing body may appropriate money in the financial stabilization fund upon a majority vote for the following purposes:

(1) To cover a general fund shortfall; or

(2) Any other purpose the municipality considers appropriate.

Note: WV Code updated with legislation passed through the 2014 1st Special Session
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