West Virginia Code
1 - PURPOSE AND SHORT TITLE; DEFINI
2 - CREATION OF MUNICIPALITIES
3 - FRAMING AND ADOPTING AN ORIGINA
3A - GOVERNMENT OF CLASS IV TOWNS O
4 - FRAMING AND ADOPTING A CHARTER
5 - ELECTION, APPOINTMENT, QUALIFIC
6 - ANNEXATION
7 - DECREASE OF CORPORATE LIMITS
8 - CONSOLIDATION OF MUNICIPALITIES
9 - PROCEEDINGS OF GOVERNING BODIES
10 - POWERS AND DUTIES OF CERTAIN
11 - POWERS AND DUTIES WITH RESPEC
12 - GENERAL AND SPECIFIC POWERS,
13 - TAXATION AND FINANCE
13A - BUSINESS IMPROVEMENT DISTRIC
13B - DOWNTOWN REDEVELOPMENT DISTR
13C - MUNICIPAL TAX IN LIEU OF BUS
14 - LAW AND ORDER; POLICE FORCE O
14A - MUNICIPAL POLICE OFFICERS AN
15 - FIRE FIGHTING; FIRE COMPANIES
15A - STANDARDS FOR PROFESSIONAL F
16 - MUNICIPAL PUBLIC WORKS; REVEN
17 - LOW COST IMPROVEMENTS
18 - ASSESSMENTS TO IMPROVE STREET
19 - MUNICIPAL AND COUNTY WATERWOR
20 - COMBINED SYSTEMS
20A - NEIGHBORHOOD REHABILITATION
21 - BOARD OF PARK AND RECREATION
22 - RETIREMENT BENEFITS GENERALLY
22A - WEST VIRGINIA MUNICIPAL POLI
23 - INTERGOVERNMENTAL RELATIONS -
24 - PLANNING AND ZONING
25 - INTERGOVERNMENTAL RELATIONS -
26 - INTERGOVERNMENTAL RELATIONS -
26A - MUNICIPAL AND COUNTY HISTORI
27 - INTERGOVERNMENTAL RELATIONS -
27A - INTERGOVERNMENTAL RELATIONS
28 - INTERGOVERNMENTAL RELATIONS -
29 - INTERGOVERNMENTAL RELATIONS -
29A - COUNTY AIRPORT AUTHORITIES
29B - AIRPORT SECURITY
30 - INTERGOVERNMENTAL RELATIONS -
31 - INTERGOVERNMENTAL RELATIONS -
32 - INTERGOVERNMENTAL RELATIONS -
33 - INTERGOVERNMENTAL RELATIONS -
34 - JUDICIAL REVIEW
35 - DISSOLUTION OF MUNICIPALITIES
36 - CONSTITUTIONALITY AND SEVERAB
38 - MUNICIPAL ECONOMIC OPPORTUNIT
CHAPTER 8. MUNICIPAL CORPORATIONS.
ARTICLE 37. MUNICIPAL FINANCIAL STABILIZATION FUND ACT.
This act may be known and cited as the "Municipal Financial Stabilization Fund Act".
The Legislature finds and declares that:
(1) Municipalities should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and
(2) The creation, maintenance and use of a financial stabilization fund will provide municipalities with assistance to meet these challenges, as well as enable them to improve their financial management and practices.
(a) A municipality may create a financial stabilization fund by a majority vote of its governing body. The fund may receive appropriations, gifts, grants and any other funds made available.
(b) The governing body may appropriate a sum to the fund from any surplus in the General Fund at the end of each fiscal year or from any other money available.
(c) The amount of money in the fund may not exceed thirty percent of the municipality's most recent general fund budget, as originally adopted. When the fund exceeds the thirty percent, the governing body shall transfer the excess to any fund it considers appropriate.
(a) The governing body may invest the money in the fund as it considers appropriate, with the earnings retained by the fund.
(b) The governing body may appropriate money in the financial stabilization fund upon a majority vote for the following purposes:
(1) To cover a general fund shortfall; or
(2) Any other purpose the municipality considers appropriate.