West Virginia Code
Article 13A. Public Service Districts
§16-13A-16. Sinking Fund for Revenue Bonds

At or before the time of the issuance of any bonds under this article the board shall by resolution or in the trust indenture provide for the creation of a sinking fund and for monthly payments into such fund from the revenues of the public service properties operated by the district such sums in excess of the cost of maintenance and operation of such properties as will be sufficient to pay the accruing interest and retire the bonds at or before the time each will respectively become due and to establish and maintain reserves therefor. All sums which are or should be, in accordance with such provisions, paid into such sinking fund shall be used solely for payment of interest and for the retirement of such bonds at or prior to maturity as may be provided or required by such resolutions.

Structure West Virginia Code

West Virginia Code

Chapter 16. Public Health

Article 13A. Public Service Districts

§16-13A-1. Legislative Findings

§16-13A-1a. Jurisdiction of the Public Service Commission

§16-13A-1b. County Commissions to Develop Plan to Create, Consolidate, Merge, Expand or Dissolve Public Service Districts

§16-13A-1c. General Purpose of Districts

§16-13A-2. Creation of Districts by County Commission; Enlarging, Reducing, Merging, or Dissolving District; Consolidation; Agreements, etc.; Infringing Upon Powers of County Commission; Filing List of Members and Districts With the Secretary of Stat...

§16-13A-3. District to Be a Public Corporation and Political Subdivision; Powers Thereof; Public Service Boards

§16-13A-3a. Removal of Members of Public Service Board

§16-13A-4. Board Chairman; Members' Compensation; Procedure; District Name

§16-13A-5. General Manager of Board

§16-13A-6. Employees of Board

§16-13A-7. Acquisition and Operation of District Properties; Contracts to Respond to Emergency Situations

§16-13A-8. Acquisition and Purchase of Public Service Properties; Right of Eminent Domain; Extraterritorial Powers

§16-13A-9. Rules; Service Rates and Charges; Discontinuance of Service; Required Water and Sewer Connections; Lien for Delinquent Fees

§16-13A-9a. Limitations With Respect to Foreclosure

§16-13A-9b. Exemptions for Swimming Pools

§16-13A-10. Budget

§16-13A-11. Accounts; Audit

§16-13A-12. Disbursement of District Funds

§16-13A-13. Revenue Bonds

§16-13A-14. Items Included in Cost of Properties

§16-13A-15. Bonds May Be Secured by Trust Indenture

§16-13A-16. Sinking Fund for Revenue Bonds

§16-13A-17. Collection, etc., of Revenues and Enforcement of Covenants; Default; Suit, etc., by Bondholder or Trustee to Compel Performance of Duties; Appointment and Powers of Receiver

§16-13A-18. Operating Contracts

§16-13A-18a. . Sale, Lease or Rental of Water, Sewer, Stormwater or Gas System by District; Distribution of Proceeds

§16-13A-19. Statutory Mortgage Lien Created; Foreclosure Thereof

§16-13A-20. Refunding Revenue Bonds

§16-13A-21. Complete Authority of Article; Liberal Construction; District to Be Public Instrumentality; Tax Exemption

§16-13A-22. Validation of Prior Acts and Proceedings of County Courts for Creation of Districts, Inclusion of Additional Territory, and Appointment of Members of District Boards

§16-13A-23. Validation of Acts and Proceedings of Public Service Boards

§16-13A-24. Acceptance of Loans, Grants or Temporary Advances

§16-13A-25. Borrowing and Bond Issuance; Procedure