If a commission should realize a surplus over and above the amount required for the improvement, maintenance and operation of its facilities and for meeting all required payments on its obligations, it shall set aside such reserve for future improvements, maintenance, operations and contingencies as it shall deem proper and shall then apply the residue of such surplus, if any, to the payment of any recognized and established obligations not then due, and after all such recognized and established obligations have been paid and discharged in full, the commission shall, at the end of each fiscal year, set aside the reserve for future improvements, maintenance, operations and contingencies, as aforesaid, and then pay the residue of such surplus, if any, to the governmental bodies creating and establishing such commission in direct proportion to their financial contribution.
Structure West Virginia Code
Chapter 8. Municipal Corporations
Article 33. Intergovernmental Relations -- Building Commissions
§8-33-2. Commissions Are Public Corporations
§8-33-4a. Issuance of Pension Funding Revenue Bonds to Fund a Pension Funding Program
§8-33-4b. Approval of Municipal Pension Oversight Board of Certain Pension Funding Revenue Bonds
§8-33-5. Indebtedness of Commission
§8-33-6. Disposition of Surplus of Commission
§8-33-7. Property, Bonds and Obligations of Commissions Exempt From Taxation
§8-33-8. Contributions to Commissions; Funds and Accounts of Commissions; Reports; Audits
§8-33-9. Authority to Convey or Transfer Property to Commission
§8-33-10. Sale of Property by Commission