WEST virginia legislature

2016 regular session

Introduced

House Joint Resolution 41

By Delegates Rhorbach, Statler, B. White, Stansbury, Kurcaba, Arvon and Perdue

[Introduced ; Referred
to the Committee on Finance then the Judiciary]

Proposing an amendment to the Constitution of the State of West Virginia, relating to allowing the Legislature to authorize the issuance and sale of state bonds not exceeding the aggregate amount of one billion dollars to be used for infrastructure improvement and industrial development; numbering and designating such proposed amendment; and providing a summarized statement of the purpose of such proposed amendment.

Resolved by the Legislature of West Virginia, two thirds of the members elected to each house agreeing thereto:

That the question of ratification or rejection of an amendment to the Constitution of the State of West Virginia be submitted to the voters of the State at the next general election to be held in the year two thousand and sixteen, which proposed amendment is to read as follows:

WEST VIRGINIA infrastructure improvement and industrial development AMENDMENT OF 2016.

(a) The Legislature may by general law authorize the issuance and sale of state bonds not exceeding in the aggregate one billion dollars for infrastructure improvement and industrial development.

(b) The proceeds of the bonds shall be used and appropriated for the construction, extension, expansion, rehabilitation, repair and improvement of utility and transportation services and for the acquisition, preparation, construction and improvement of sites for economic development in this state in a manner and subject to such conditions, qualifications and requirements as may be prescribed by general law. Such bonds may be issued and sold at such time or times and in such amount or amounts as the Legislature authorizes.

(c) When a bond issue as aforesaid is authorized, the Legislature shall, at the same time, provide for the collection of an annual state tax sufficient to pay as it may accrue the interest on such bonds and the principal thereof within and not exceeding twenty-five years.

Resolved further, That in accordance with the provisions of article eleven, chapter three of the Code of West Virginia, one thousand nine hundred thirty-one as amended, such proposed amendment is hereby numbered “Amendment No. 1” and designated as the “West Virginia Infrastructure Improvement and Industrial Development Amendment of 2016” and the purpose of the proposed amendment is summarized as follows: “To provide for infrastructure improvement and industrial development in the State of West Virginia.”

NOTE: The purpose of this resolution is to offer to the voters the opportunity to allow the Legislature to authorize the issuance and sale of state bonds not exceeding the aggregate amount of one billion dollars to be used for infrastructure improvement and industrial development.

Strike-throughs indicate language that would be stricken from a heading or the present Constitution, and underscoring indicates new language that would be added.