WEST VIRGINIA CODE
WVC 17 - 17 - 34
§17-17-34. Same -- Retiring bonds; remittance to sinking fund.
Every municipality or county court issuing bonds, or other
evidences of indebtedness, under the provisions of this act,
shall thereafter, so long as any such bonds or other evidences of
indebtedness remain outstanding, operate and maintain its bridge
so as to provide, charge, collect and account for revenues
therefrom as will be sufficient to pay all operating costs,
provide a depreciation fund, retire the bonds or other evidences
of indebtedness, and pay the interest requirements as the same
may become due. The ordinance or order pursuant to which any
such bonds or other evidences of indebtedness are issued shall
pledge the revenues derived from the bridge to the purposes
aforesaid, and shall definitely fix and determine the amount of
revenues which shall be necessary and set apart in a special fund
for the bond requirements. The amounts, as and when so set apart
into said special fund for the bond requirements, shall be
remitted to the state sinking fund commission at least thirty
days previous to the time interest or principal payments become
due, to be retained and paid out by said commission consistent
with the provisions of this act and the ordinance or order
pursuant to which such bonds or other evidences of indebtedness
have been issued.
Note: WV Code updated with legislation passed through the 2012 1st Special Session