All moneys received from the sale of any bonds issued under the authority of this article, after reimbursements and repayments to said municipality or municipalities of all amounts advanced for preliminary expenses, as provided in section six of this article, shall be applied solely to the payment of the cost of the project, or to the appurtenant sinking fund, and there shall be, and there is hereby, created and granted a lien upon such moneys, until so applied, in favor of the holders of the bonds or the trustees hereinafter provided for.
Structure West Virginia Code
Chapter 8. Municipal Corporations
Article 16. Municipal Public Works; Revenue Bond Financing
§8-16-3. Special Provisions as to Certain Municipal Public Works
§8-16-4. Construction, etc., to Be Under Control of Governing Body or Appointed Board, etc.
§8-16-4a. Additional Special Provisions as to Motor Vehicle Parking Facilities
§8-16-4b. Additional Special Provision as to the Use of Space in Motor Vehicle Parking Facilities
§8-16-7. Ordinance for Construction, etc., of Works
§8-16-8. Right of Eminent Domain
§8-16-9. Bonds for Improvements, etc., of Works
§8-16-10. Items of Expense Included in Cost of Works
§8-16-13. Obligations Not to Bind Municipal Official or Officer or Member of Board Personally
§8-16-14. Additional Bonds for Improvements, etc., of Works
§8-16-15. How Proceeds of Bonds Applied
§8-16-18. Rates, Fees, or Charges for Services Rendered by Works
§8-16-18a. Pledge of the Hotel Occupancy Tax; Contribution of Revenues to Building Commission
§8-16-20. Accounting System; Yearly Audit; Custodian of Funds
§8-16-22. Statutory Mortgage Lien Upon Works Created
§8-16-23. Acquisition of Property on Which Lien Exists
§8-16-25. Article Confers Additional Power and Authority; Extraterritorial Jurisdiction
§8-16-26. Construction of Power and Authority Conferred