From the funds available to it the School Building Authority shall maintain a reserve fund in the amount of not less than $600,000 for the purpose of making emergency grants to financially distressed county boards to assist them in making repairs or performing urgent maintenance to facilities or facility related equipment or facility related equipment replacement necessary to maintain the serviceability or structural integrity of school facilities currently in use or necessary for educating the students of the county. The grants shall be made in accordance with guideline established by the school building authority. For the purposes of this section, “financially distressed county” means a county either in deficit or on the most recently established watch list established by the Department of Education of those counties at-risk of becoming in deficit.
Structure West Virginia Code
Article 9D. School Building Authority
§18-9D-1. School Building Authority; Powers
§18-9D-3. Powers of Authority; School Building Authority Fund
§18-9D-4a. Savings From Issuance of Refunding Bonds
§18-9D-5. School Building Authority Authorized to Offer Individual Higher Education Savings Plans
§18-9D-7. Authority to Fix and Collect Rents
§18-9D-8. Use of Proceeds of Bonds; Bonds Exempt From Taxation
§18-9D-10. Bonds May Be Issued for Combined Purposes
§18-9D-11. Bonds Shall Be Negotiable Instruments
§18-9D-12. Trust Agreements for Holders of Bonds
§18-9D-13. Sinking Fund for Payment of Bonds
§18-9D-14. Credit of State Not Pledged
§18-9D-17. Limitations on Contracts for Sale of Bonds or Other Securities
§18-9D-19. Comprehensive High Schools