The exercise of the powers granted to the water development 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 for the enhancement of their residential, agricultural, recreational, economic, commercial and industrial opportunities and is for a public purpose. As the construction, acquisition, repair or renovation of projects or infrastructure projects will constitute the performance of essential governmental functions, the water development authority shall not be required to pay any taxes or assessments upon any project or upon any property acquired or used by the water development authority or upon the income therefrom. The infrastructure revenue bonds and all interest and income thereon shall be exempt from all taxation by this state, or any county, municipality, political subdivision or agency thereof, except estate taxes.
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