West Virginia Code
Article 16. Municipal Public Works; Revenue Bond Financing
§8-16-20. Accounting System; Yearly Audit; Custodian of Funds

§8-16-20. Accounting system; yearly audit; custodian of funds.
Any municipality or municipalities issuing revenue bonds under the provisions of this article shall install and maintain a proper system of accounting, showing the amount of revenues received and the application of the same, and the governing body or bodies shall, at least once a year, cause such accounts to be properly audited by a competent Auditor, and the report of such Auditor shall be open for inspection at all proper times to any taxpayer or resident of said municipality or municipalities, or person receiving service from said works, or any holder of bonds issued under the provisions of this article, or anyone acting for and in behalf of such taxpayer, resident, person or bondholder. The treasurer of such municipality or each such municipality, or other official or institution specifically charged with the duty, shall be the custodian or custodians of the funds derived from income received from said works, and shall give proper bond or bonds for the faithful discharge of his or its or their duties as such custodian or custodians, which bond or bonds shall be fixed and approved by the governing body or bodies. All of the funds received as income from said works under the provisions of this article and all funds received from the sale of revenue bonds issued therefor shall be kept separate and apart from other funds of the municipality or municipalities, and separate accounts shall be maintained for the several items required to be set up by the provisions of section seventeen of this article.

Structure West Virginia Code

West Virginia Code

Chapter 8. Municipal Corporations

Article 16. Municipal Public Works; Revenue Bond Financing

§8-16-1. Definitions

§8-16-2. Municipalities Authorized to Construct, etc., Public Works and to Acquire Property; Payment of Costs

§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

§8-16-5. Powers of Board

§8-16-6. Preliminary Expenses

§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

§8-16-11. No Municipality Is to Incur Any Obligation Not Payable From Proceeds of Bonds; Exemption From Taxation

§8-16-12. Interest Rate and Life of Bonds; Redemption; How Payable; Form, Denominations, etc.; Additional Bonds Authorized; Interim Certificates

§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

§8-16-16. Bonds Secured by Trust Indenture Between Municipality or Municipalities and Corporate Trustee

§8-16-17. Sinking Fund; West Virginia Municipal Bond Commission; Transfer of Funds; Purchase of Outstanding Bonds

§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

§8-16-21. Governmental Entities to Pay Established Rates, Fees or Charges for Services Rendered to It or Them

§8-16-22. Statutory Mortgage Lien Upon Works Created

§8-16-23. Acquisition of Property on Which Lien Exists

§8-16-24. Protection and Enforcement of Rights of Bondholders, etc.; Receivership; Effect of Receivership on Lease Agreement

§8-16-25. Article Confers Additional Power and Authority; Extraterritorial Jurisdiction

§8-16-26. Construction of Power and Authority Conferred

§8-16-27. Article Liberally Construed

§8-16-28. Reference to &Quot;municipal Authorities" or &Quot;municipal Authority" Elsewhere in Law to Mean &Quot;governing Body" for the Purposes of This Article Only