(a) General. – When special revenue bonds have been issued as provided in this article and the amount of county transportation sales and use taxes collected, less costs of administration, collection and enforcement, exceeds the amount needed to pay project costs and annual debt service, including the funding of required debt service and maintenance reserves, if any, the additional amount remaining in the county's subaccount in the County Road Improvement Account shall be used to retire outstanding revenue bonds before their maturity date in accordance with the terms of such bonds.
(b) Termination of county transportation sales and use taxes. – Once the special revenue bonds issued as provided in this article are no longer outstanding or have been defeased, and no additional road construction projects have been requested and approved by the Commissioner of Highways, the county transportation sales and use taxes shall be discontinued by order adopted by the county commission as provided in this article. Termination of the county transportation sales and use taxes as provided in this section may not bar or otherwise prevent the Tax Commissioner from collecting county transportation sales and use taxes that accrued before the termination date and the rights of the state and the taxpayers as to those taxes shall be preserved.
(c) Excess funds. – After all intergovernmental agreements with the Commissioner of Highways have ended and all debt service on special revenue bonds issued to finance, in whole or in part, the road construction projects has been paid or provided for, and county transportation sales and use taxes imposed by the county have terminated, the Commissioner of Highways shall forward the unencumbered balance of moneys remaining in the county's subaccount in the County Road Improvement Account to the county commission of that county for deposit in the county's general fund.
Structure West Virginia Code
Chapter 7. County Commissions and Officers
Article 27. Letting Our Counties Act Locally Act
§7-27-4. Creation of County Road Construction Project Plan
§7-27-5. Public Hearing and Notice Requirements
§7-27-6. Finalization of Road Construction Project Plan
§7-27-8. Application to Commissioner of Highways for Approval of Road Construction Project Plans
§7-27-9. Requirement for Referendum on Final Road Construction Project Plan
§7-27-10. Amendment of Road Construction Project Plan
§7-27-11. Termination of Road Construction Project Plan
§7-27-12. Order Adopting Road Construction Project Plan or Plan Amendment
§7-27-13. Joint Road Construction Projects
§7-27-14. Creation of County Road Improvement Account
§7-27-17. Qualifying a Transportation Project as a Public Improvement
§7-27-18. Reports by Commissioner of Highways
§7-27-19. Issuance of County Road Construction Special Revenue Bonds
§7-27-23. Negotiability of Bonds Issued Pursuant to This Article
§7-27-24. Exemption From Taxation
§7-27-25. Personal Liability; Persons Executing Bonds Issued Pursuant to This Article
§7-27-27. Criteria and Requirements Necessary to Impose County Transportation Sales and Use Taxes
§7-27-28. Counties Authorized to Impose County Transportation Sales and Use Taxes
§7-27-29. Notification of Tax Commissioner, Auditor and Treasurer
§7-27-31. County Transportation Sales Tax Collected From Purchaser
§7-27-32. Payment of County Transportation Use Tax
§7-27-33. County Transportation Sales and Use Taxes in Addition to Other Taxes
§7-27-34. Credit for Sales Tax Paid to Another County
§7-27-35. Sourcing Rules for County Transportation Sales and Use Taxes
§7-27-36. Application of State Consumers Sales and Service Tax Provisions
§7-27-37. Application of West Virginia Tax Procedure and Administration Act
§7-27-38. Application of West Virginia Tax Crimes and Penalties Act
§7-27-39. Local Rate and Boundary Changes
§7-27-40. Deposit of County Transportation Sales and Use Taxes; Payment to Division of Highways
§7-27-41. Effective Date of County Transportation Sales and Use Tax