(a) Each railroad project, when constructed and placed in operation, shall be maintained, and kept in good condition by the division. Each project shall be operated by the divisions employees pursuant to a contract or lease with a governmental agency or person. All public or private property damaged or destroyed while carrying out the provisions of this article shall be restored or repaired to its original condition, or as nearly as practicable or adequate compensation made out of funds provided in accordance with the provisions of this article.
(b) As soon as possible after the close of each fiscal year, the authority shall make an annual report of its activities for the preceding fiscal year to the Governor and the Joint Committee on Government and Finance. Each such report shall set forth a complete operating and financial statement covering the authoritys operations during the preceding fiscal year. The authority shall cause an audit of its books and accounts to be made at least once each fiscal year by certified public accountants and the cost thereof may be treated as a part of the cost of construction or of operations of its projects. Any report under this section may be made electronically and paper copies may be provided upon request.
Structure West Virginia Code
Chapter 17. Roads and Highways
Article 16F. West Virginia Division of Multimodal Transportation Facilities
§17-16F-1. Legislative Findings and Creation of Division
§17-16F-2. Secretary S Powers and Duties
§17-16F-4. Powers and Duties of Division
§17-16F-8. Financial Interest in Contracts Prohibited; Penalty
§17-16F-9. Public Purpose of Activities; Property of Public Utilities and Common Carriers
§17-16F-11. Foreign Trade Zones; Free Trade Zones; Ports of Entry and Customs Zones
§17-16F-13. Additional Powers and Duties of Division Related to Railroad Projects
§17-16F-14. Additional Authority Regarding the Maryland Area Regional Commuter
§17-16F-15. Rail Operations; Purchases
§17-16F-16. Railroad Maintenance Fund
§17-16F-18. Trustee for Bondholders; Contents of Trust Agreement
§17-16F-19. Legal Remedies of Bondholders and Trustees
§17-16F-21. Use of Funds by Division; Restrictions
§17-16F-22. Investment of Funds by Division
§17-16F-24. Maintenance, Operation, and Repair of Projects; Reports to Governor and Legislature
§17-16F-25. Railroad Maintenance Bonds Lawful Investments
§17-16F-26. West Virginia Commuter Rail Access Fund
§17-16F-27. State Rail Plan Required
§17-16F-29. State Financial Assistance for County, Municipal and Regional Airports
§17-16F-31. Establishment and Operation of State Airports
§17-16F-32. Use of State and Municipal Facilities and Services