(a) The water development authority, subject to such agreements with noteholders or bondholders as may then exist, shall have the power, from any funds available therefor, to purchase or redeem infrastructure revenue bonds of the water development authority.
(b) If the infrastructure revenue bonds are then redeemable, the price of the purchase shall not exceed the redemption price then applicable, plus accrued interest to the next interest payment date thereon. If the infrastructure revenue bonds are not then redeemable, the price of the purchase shall not exceed the redemption price applicable on the first date after the purchase upon which the bonds become subject to redemption, plus accrued interest to such date. Upon purchase or redemption, the bonds shall be canceled.
Structure West Virginia Code
Article 15A. West Virginia Infrastructure and Jobs Development Council
§31-15A-4. Development of Guidelines and Preliminary Application for Funding Assistance
§31-15A-6. Powers, Duties and Responsibilities of the Council Generally; Comprehensive Assessment
§31-15A-7. Current and Prospective Planning; Roads and Highways; Report to Division of Highways
§31-15A-11. Reservation of Funds for Projects and Infrastructure Projects
§31-15A-12. Additional Powers of Water Development Authority
§31-15A-14. Termination or Dissolution
§31-15A-15. Projects Not to Be Considered Public Improvements; Competitive Bid Requirements
§31-15A-16. Dedication of Severance Tax Proceeds
§31-15A-17a. Infrastructure Revenue Bonds Payable From A. James Manchin Fund
§31-15A-17b. Infrastructure Lottery Revenue Bonds for Watershed Compliance Projects
§31-15A-17c. Critical Needs and Failing Systems Sub Account
§31-15A-18. Trustee for Holders of Infrastructure Revenue Bonds; Contents of Trust Agreement
§31-15A-19. Legal Remedies of Infrastructure Revenue Bondholders or Noteholders and Trustees
§31-15A-20. Infrastructure Revenue Bonds Lawful Investments
§31-15A-21. Purchase and Cancellation of Infrastructure Revenue Bonds
§31-15A-22. Refunding Revenue Bonds
§31-15A-24. Infrastructure Revenue Bonds Exempt From Taxation