The exercise of the powers granted to the authority by this article will be in all respects for the benefit of the people of the state, for the improvement of their health, safety, convenience and welfare and is a public purpose. As the operation and maintenance of hospital facilities will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon any property acquired or used by the authority or upon the income therefrom. All bonds and notes of the authority, and all interest and income thereon, shall be exempt from all taxation by this state and any county, municipality, political subdivision or agency thereof, except inheritance taxes.
Structure West Virginia Code
Article 29A. West Virginia Hospital Finance Authority Act
§16-29A-2. Declaration of Policy and Responsibility; Purpose and Intent of Article; Findings
§16-29A-4. Creation of Authority and Board; Status and Members of Board
§16-29A-5. Powers of Authority
§16-29A-8. Trustee for Bondholders; Contents of Trust Agreement
§16-29A-9. Use of Funds by Authority; Restrictions Thereon
§16-29A-10. Security for Bonds and Notes
§16-29A-11. Enforcement of Payment and Validity of Bonds and Notes
§16-29A-12. Pledges; Time; Liens; Recordation
§16-29A-14. Purchase and Cancellation of Notes or Bonds
§16-29A-15. Vested Rights; Impairment
§16-29A-17. Negotiability of Bonds and Notes
§16-29A-18. Bonds and Notes Legal Investments
§16-29A-19. Exemption From Taxation
§16-29A-20. Certificate of Need
§16-29A-21. Nondiscrimination; Hospital Facilities
§16-29A-22. Personal Liability; Persons Executing Bonds or Notes
§16-29A-23. Financial Interest in Contracts Prohibited; Penalty
§16-29A-24. Meetings and Records of Authority to Be Kept Public