WV SB243 | 2009 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: N/A - 0% progression, died in chamber
Action: No history available
Status: N/A - 0% progression, died in chamber
Action: No history available
Summary
The purpose of this bill is to modernize article one, chapter thirteen of the code to enable it to be consistent with the current practices and procedures required for issuing general obligation bonds through competitive sale. The bill's updates include: incorporating changes from section ten, article X of the West Virginia Constitution; not requiring the issuer to designate the series's of bonds in the election order; not requiring the bond resolution to set forth the date of issuance, the denominations of the bonds, the medium with which the bonds are payable or the terms of redemption; allowing issuers to establish a maximum rate of interest in the bond resolution; allowing issuers to make semiannual payments on principal and interest; increasing the time an issuer is required to begin making debt service payments from two years to three years from the date of issuance; requiring issuers to register bonds and eliminating reference to coupon bonds; allowing issuers to accept electronic bids if the issuer elects to utilize an electronic bidding procedure; and allowing an issuer to publish an abbreviated sale of notice when advertising the sale of bonds.
Title
Relating to issuing general obligation bonds
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 1969-12-31 | 297 | |
| 1969-12-31 | 296-297 | |
| 1969-12-31 | 295 | |
| 1969-12-31 | 652 | |
| 1969-12-31 | 652 | |
| 1969-12-31 | 15 | |
| 1969-12-31 | 15 | |
| 1969-12-31 | 15 | |
| 1969-12-31 | 17 | |
| 1969-12-31 | 29 | |
| 1969-12-31 | 5-6 | |
| 1969-12-31 | 29 | |
| 1969-12-31 | 29 | |
| 1969-12-31 | 28-29 |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 13 | 1 | 14 | Amended Code | Citation Text |
| 13 | 1 | 15 | Amended Code | Citation Text |
| 13 | 1 | 15a | Amended Code | Citation Text |
| 13 | 1 | 16 | Amended Code | Citation Text |
| 13 | 1 | 17 | Amended Code | Citation Text |
| 13 | 1 | 18 | (n/a) | See Bill Text |
| 13 | 1 | 19 | Amended Code | Citation Text |
| 13 | 1 | 21 | Amended Code | Citation Text |
| 13 | 1 | 4 | Amended Code | Citation Text |
West Virginia State Sources
| Type | Source |
|---|---|
| Summary | http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=243&year=2009&sessiontype=RS&btype=bill |
