ENROLLED
Senate Bill No. 1008
(By Senators Lucht and Burdette, Mr. President)
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[Passed March 18, 1994; in effect from passage.]
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AN ACT to repeal section thirty-a, article fifteen, chapter
eleven of the code of West Virginia, one thousand nine
hundred thirty-one, as amended; to amend and reenact section
three, article one, chapter five-g of said code; to amend
and reenact section thirty, article fifteen, chapter eleven
of said code; to amend and reenact sections two, three,
four, six, eight, fifteen and sixteen, article nine-d,
chapter eighteen of said code; and to amend and reenact
section eighteen, article twenty-two, chapter twenty-nine of
said code, all relating to dedicating lottery net profits
for debt service on bonds issued by the school building
authority; dedicating consumers sales tax proceeds and
authorizing appropriations by the Legislature of lottery
revenues for school construction projects; creating the
school building debt service fund for the deposit of
dedicated lottery revenues; creating the school construction
fund and the school major improvement fund for the deposit
of dedicated consumers sales tax and appropriated lottery
revenues; providing for the transfer of funds to the school
building authority custodial account from specified funds in
the state treasury; and limiting the permissible
expenditures from the school building capital improvements
fund, the school building debt service fund, the school
construction fund and the school major improvement fund.
Be it enacted by the Legislature of West Virginia:
That section thirty-a, article fifteen, chapter eleven of
the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be repealed; that section three, article one, chapter
five-g of said code be amended and reenacted; that section
thirty, article fifteen, chapter eleven of said code be amended
and reenacted; that sections two, three, four, six, eight,
fifteen and sixteen, article nine-d, chapter eighteen of said
code be amended and reenacted; and that section eighteen, article
twenty-two, chapter twenty-nine of said code be amended and
reenacted, all to read as follows:
CHAPTER 5G. PROCUREMENT OF ARCHITECT - ENGINEER
SERVICES BY STATE AND ITS SUBDIVISIONS.
ARTICLE 1. PROCUREMENT OF ARCHITECT-ENGINEER SERVICES.
§5G-1-3. Contracts for architectural and engineering services;
selection process where total project costs are estimated to
cost two hundred fifty thousand dollars or more.
In the procurement of architectural and engineering services
for projects estimated to cost two hundred fifty thousand dollars
or more, the director of purchasing shall encourage such firms
engaged in the lawful practice of the profession to submit anexpression of interest, which shall include a statement of
qualifications and performance data, and may include anticipated
concepts and proposed methods of approach to the project. All
such jobs shall be announced by public notice published as a
Class II legal advertisement in compliance with the provisions of
article three, chapter fifty-nine of this code. A committee of
three to five representatives of the agency initiating the
request shall evaluate the statements of qualifications and
performance data and other material submitted by interested firms
and select three firms which, in their opinion, are best
qualified to perform the desired service:
Provided,
That on
projects funded wholly or in part by school building authority
moneys, in accordance with sections fifteen and sixteen, article
nine-d, chapter eighteen of this code, two of said three firms
shall have had offices within this state for a period of at least
one year prior to submitting an expression of interest regarding
a project funded by school building authority moneys. Interviews
with each firm selected shall be conducted and the committee
shall conduct discussions regarding anticipated concepts and
proposed methods of approach to the assignment. The committee
shall then rank, in order of preference, no less than three
professional firms deemed to be the most highly qualified to
provide the services required, and shall commence scope of
service and price negotiations with the highest qualified
professional firm for architectural or engineering services or
both. Should the agency be unable to negotiate a satisfactory
contract with the professional firm considered to be the mostqualified, at a fee determined to be fair and reasonable, price
negotiations with the firm of second choice shall commence.
Failing accord with the second most qualified professional firm,
the committee shall undertake price negotiations with the third
most qualified professional firm. Should the agency be unable to
negotiate a satisfactory contract with any of the selected
professional firms, it shall select additional professional firms
in order of their competence and qualifications and it shall
continue negotiations in accordance with this section until an
agreement is reached:
Provided, however,
That county boards of
education may either elect to start the selection process over in
the original order of preference or it may select additional
professional firms in order of their competence and
qualifications and it shall continue negotiations in accordance
with this section until an agreement is reached.
CHAPTER 11. TAXATION.
ARTICLE 15. CONSUMERS SALES TAX.
§11-15-30. Proceeds of tax; appropriation of certain revenues.
(a) The proceeds of the tax imposed by this article shall be
deposited in the general revenue fund of the state beginning the
first day of July, one thousand nine hundred ninety-four, except
as otherwise expressly provided in this article. Prior to the
said first day of July, the proceeds of this tax shall, except as
otherwise expressly provided in this article, be deposited as
provided in chapter three, acts of the Legislature, second
extraordinary session, one thousand nine hundred ninety-three,
and, for such purpose, such prior law is fully preserved. On thesaid first day of July, the balance in "WVFIMS" account number
fund 6676, fiscal year one thousand nine hundred ninety-four,
organization 0615, shall be transferred to the general revenue
fund. On the said first day of July, the balance in "WVFIMS"
account number fund 3962, fiscal year one thousand nine hundred
ninety-four, organization 0402, shall be transferred to the
school construction fund created pursuant to section six, article
nine-d, chapter eighteen of this code.
(b) School major improvement fund. --
After the payment or commitment of the proceeds or
collections of this tax for the purposes set forth in sections
sixteen and eighteen of this article:
(1) On the first day of July, one thousand nine hundred
ninety-four, there shall be dedicated from the collections of
this tax, an amount appropriated by the Legislature to this fund
in the general revenue budget for the fiscal year beginning on
the first day of July, one thousand nine hundred ninety-four, and
the amount dedicated shall be deposited into the school major
improvement fund created pursuant to section six, article nine-d,
chapter eighteen of this code, as soon as such amount has been
accumulated from the collections of this tax.
(2) Beginning on the first day of July, one thousand nine
hundred ninety-five, and continuing on the first day of each
succeeding month thereafter through the thirtieth day of June,
two thousand five, there shall be dedicated monthly from the
collections of this tax, the amount of four hundred sixteen
thousand six hundred sixty-seven dollars and the amount dedicatedshall be deposited on a monthly basis into the school major
improvement fund created pursuant to section six, article nine-d,
chapter eighteen of this code.
(c) School construction fund. --
After the payment or commitment of the proceeds or
collections of this tax for the purposes set forth in sections
sixteen and eighteen of this article:
(1) Beginning the first day of July, one thousand nine
hundred ninety-five, and continuing on the first day of each
succeeding month thereafter through the last day of June, one
thousand nine hundred ninety-six, there shall be dedicated
monthly from the collections of this tax, the amount of five
hundred eighty-three thousand three hundred thirty-three dollars
and the amount dedicated shall be deposited into the school
construction fund created pursuant to section six, article
nine-d, chapter eighteen of this code.
(2) Beginning the first day of July, one thousand nine
hundred ninety-six, and continuing on the first day of each
succeeding month thereafter through the thirtieth day of June,
two thousand five, there shall be dedicated monthly from the
collections of this tax, the amount of one million four hundred
sixteen thousand six hundred sixty-seven dollars and the amount
dedicated shall be deposited into the school construction fund
created pursuant to section six, article nine-d, chapter eighteen
of this code.
CHAPTER 18. EDUCATION.
ARTICLE 9D. SCHOOL BUILDING AUTHORITY.
§18-9D-2. Definitions.
The following terms, wherever used or referred to in this
article, have the following meanings, unless a different meaning
clearly appears from the context:
(1) "Authority" means the school building authority of West
Virginia or, if said authority shall be abolished, any board or
officer succeeding to the principal functions thereof, or to whom
the powers given to said authority shall be given by law;
(2) "Bonds" means bonds issued by the authority pursuant to
this article;
(3) "Construction project" means a project with a cost of
project greater than five hundred thousand dollars for the new
construction, major renovation of facilities, buildings and
structures for school purposes including the acquisition of land
for current or future use in connection therewith, as well as new
or substantial upgrading of existing equipment, machinery,
furnishings, installation of utilities and other similar items
convenient in connection with placing the foregoing into
operation:
Provided,
That a construction project may not include
such items as books, computers or equipment used for
instructional purposes, fuel, supplies, routine utility services
fees, routine maintenance costs, ordinary course of business
improvements and other items which are customarily deemed to
result in a current or ordinary course of business operating
charge:
Provided, however,
That a construction project may not
include a major improvement project;
(4) "Cost of project" means the cost of construction,renovation, repair and safety upgrading of facilities, buildings
and structures for school purposes; the cost of land, equipment,
machinery, furnishings, installation of utilities and other
similar items convenient in connection with placing the foregoing
into operation; and the cost of financing, interest during
construction, professional service fees and all other charges or
expenses necessary, appurtenant or incidental to the foregoing,
including the cost of administration of this article;
(5) "Facilities plan" means the county-wide comprehensive
educational facilities plan for school facilities required prior
to the distribution of state funds to any county board pursuant
to subsection (a), section sixteen of this article;
(6) "Project" means a construction project or a major
improvement project;
(7) "Region" means the area encompassed within and serviced
by a regional educational service agency established pursuant to
section twenty-six, article two of this chapter;
(8) "Revenue" or "revenues" means moneys deposited in the
school building capital improvements fund pursuant to the
operation of section ten, article nine-a of this chapter; moneys
deposited in the school construction fund pursuant to the
operation of section thirty, article fifteen, chapter eleven of
this code and pursuant to the operation of section eighteen,
article twenty-two, chapter twenty-nine of this code; moneys
deposited in the school building debt service fund pursuant to
section eighteen, article twenty-two, chapter twenty-nine of this
code; moneys deposited in the school major improvement fundpursuant to the operation of section thirty, article fifteen,
chapter eleven of this code; any moneys received, directly or
indirectly, from any source for use in any project completed
pursuant to this article; and any other moneys received by the
authority for the purposes of this article;
(9) "School major improvement plan" means the ten-year
school maintenance plan to be prepared by each county board of
education and by the state board of education or the
administrative council of an area vocational educational center
if such entity seeks funding from the authority for a major
improvement project, which school major improvement plan is
required prior to the distribution of state funds for a major
improvement project pursuant to subsection (b), section sixteen
of this article; and
(10) "School major improvement project" means a project with
a cost greater than fifty thousand dollars and less than five
hundred thousand dollars for the renovation, the repair and
safety upgrading of existing school facilities, buildings and
structures, including the substantial repair or upgrading of
equipment, machinery, building systems, utilities and other
similar items convenient in connection with such renovation,
repair or upgrading:
Provided,
That a major improvement project
may not include such items as books, computers or equipment used
for instructional purposes, fuel, supplies, routine utility
services fees, routine maintenance costs, ordinary course of
business improvements and other items which are customarily
deemed to result in a current or ordinary course of businessoperating charge.
§18-9D-3. Powers of authority.
The school building authority has the power:
(1) To sue and be sued, plead and be impleaded;
(2) To have a seal and alter the same at pleasure;
(3) To contract to acquire and to acquire, in the name of
the authority by purchase, lease-purchase not to exceed a term of
twenty-five years, or otherwise, real property or rights or
easements necessary or convenient for its corporate purposes and
to exercise the power of eminent domain to accomplish such
purposes;
(4) To acquire, hold and dispose of real and personal
property for its corporate purposes;
(5) To make bylaws for the management and rule of its
affairs;
(6) To appoint, contract with and employ attorneys, bond
counsel, accountants, construction and financial experts,
underwriters, financial advisers, trustees, managers, officers
and such other employees and agents as may be necessary in the
judgment of the authority and to fix their compensation:
Provided,
That contracts entered into by the school building
authority in connection with the issuance of bonds under this
article to provide professional and technical services,
including, without limitation, accounting, actuarial,
underwriting, consulting, trustee, bond counsel, legal services
and contracts relating to the purchase or sale of bonds shall be
subject to the provisions of article three, chapter five-a ofthis code:
Provided, however,
That notwithstanding any other
provisions of this code, any authority of the attorney general of
this state relating to the review of contracts and other
documents to effectuate the issuance of bonds under this article
shall be exclusively limited to the form of the contract and
document:
Provided further,
That the attorney general of this
state shall complete all reviews of contracts and documents
relating to the issuance of bonds under this article within ten
calendar days of receipt of such contract and document for
review;
(7) To make contracts and to execute all instruments
necessary or convenient to effectuate the intent of and to
exercise the powers granted to it by this article;
(8) To renegotiate all contracts entered into by it
whenever, due to a change in situation, it appears to the
authority that its interests will be best served;
(9) To acquire by purchase, eminent domain or otherwise all
real property or interests therein necessary or convenient to
accomplish the purposes of this article;
(10) To require proper maintenance and insurance of any
project authorized hereunder;
(11) To charge rent for the use of all or any part of a
project or buildings at any time financed, constructed, acquired
or improved, in whole or in part, with the revenues of the
authority;
(12) To assist any county board of education that chooses to
acquire land, buildings and capital improvements to existingschool buildings and property for use as public school
facilities, by lease from a private or public lessor for a term
not to exceed twenty-five years with an option to purchase
pursuant to an investment contract with said lessor on such terms
and conditions as may be determined to be in the best interests
of the authority, the state board of education and such county
board of education, consistent with the purposes of this article,
by transferring funds to the state board of education as provided
in subsection (d), section fifteen of this article for the use of
such county board of education;
(13) To accept and expend any gift, grant, contribution,
bequest or endowment of money to, or for the benefit of, the
authority, from the state of West Virginia or any other source
for any or all of the purposes specified in this article or for
any one or more of such purposes as may be specified in
connection with such gift, grant, contribution, bequest or
endowment;
(14) To enter on any lands and premises for the purpose of
making surveys, soundings and examinations;
(15) To contract for architectural, engineering or other
professional services considered necessary or economical by the
authority to provide consultative or other services to the
authority or to any regional educational service agency or county
board requesting professional services offered by the authority,
to evaluate any facilities plan or any project encompassed
therein, to inspect existing facilities or any project that has
received or may receive funding from the authority, or to performany other service considered by the authority to be necessary or
economical. Assistance to the region or district may include the
development of preapproved systems, plans, designs, models or
documents; advice or oversight on any plan or project; or any
other service that may be efficiently provided to regional
educational service agencies or county boards by the authority;
(16) To provide funds on an emergency basis to repair or
replace property damaged by fire, flood, wind, storm, earthquake
or other natural occurrence, such funds to be made available in
accordance with guidelines of the school building authority;
(17) To transfer moneys to custodial accounts maintained by
the school building authority with a state financial institution
from the school construction fund and the school improvement fund
created in the state treasury pursuant to the provisions of
section six of this article, as necessary to the performance of
any contracts executed by the school building authority in
accordance with the provisions of this article; and
(18) To do all things necessary or convenient to carry out
the powers given in this article.
§18-9D-4. School building authority authorized to issue
refunding revenue bonds and/or general obligation bonds for
school building capital improvement projects.
(a) The school building authority may by resolution, in
accordance with the provisions of this article, issue revenue
bonds of the authority from time to time, either to finance the
cost of construction projects for public schools in this state,
or to refund, at the discretion of the authority, bonds issued tofinance the cost of the construction projects for public schools
in this state and outstanding under and pursuant to the
provisions of this article as in effect prior to the twentieth
day of July, one thousand nine hundred ninety-three. The
principal of, interest and redemption premium, if any, on such
bonds shall be payable solely from the special fund herein
provided for such payment.
(b) The school building authority may, in accordance with
the provisions of the constitution of West Virginia, issue
general obligation bonds from time to time as authorized by
referendum pursuant to resolution duly adopted by the
Legislature, to finance the cost of construction projects for
public schools in this state.
§18-9D-6. School building capital improvements fund in state
treasury; school construction fund in state treasury; school
building debt service fund in state treasury; school
improvement fund in state treasury; collections to be paid
into special funds; authority to pledge such collections as
security for refunding revenue bonds; authority to finance
projects on a cash basis.
(a) There is continued in the state treasury a school
building capital improvements fund to be expended by the
authority as provided in this article.
The school building authority shall have authority to pledge
all or such part of the revenues paid into the school building
capital improvements fund as may be needed to meet the
requirements of any revenue bond issue or issues authorized bythis article prior to the twentieth day of July, one thousand
nine hundred ninety-three, or revenue bonds issued to refund
revenue bonds issued prior to that date, including the payment of
principal of, interest and redemption premium, if any, on, such
revenue bonds and the establishing and maintaining of a reserve
fund or funds for the payment of the principal of, interest and
redemption premium, if any, on such revenue bond issue or issues
when other moneys pledged may be insufficient therefor, including
such additional protective pledge of revenues as the authority in
its discretion has provided by resolution authorizing the issue
of such bonds or in any trust agreement made in connection
therewith. The authority may further provide in such resolution
and in such trust agreement for such priorities on the revenues
paid into such school building capital improvements fund as may
be necessary for the protection of the prior rights of the
holders of bonds issued at different times under the provisions
of this article.
Any balance remaining in the school building capital
improvements fund after the authority has issued bonds authorized
by this article, and after the requirements of all funds
including reserve funds established in connection with the bonds
issued prior to the twentieth day of July, one thousand nine
hundred ninety-three, pursuant to this article have been
satisfied, may be used for the redemption of any of the
outstanding bonds issued hereunder which by their terms are then
redeemable, or for the purchase of such bonds at the market
price, but not exceeding the price, if any, at which such bondsshall in the same year be redeemable, and all bonds redeemed or
purchased shall forthwith be canceled and shall not again be
issued.
The school building authority, in its discretion, may use
the moneys in the school building capital improvements fund to
finance the cost of projects on a cash basis. Any pledge of
moneys in such fund for revenue bonds issued prior to the
twentieth day of July, one thousand nine hundred ninety-three,
shall be a prior and superior charge on such fund over the use of
any of the moneys in such fund to pay for the cost of any project
on a cash basis:
Provided,
That any expenditures from such fund,
other than for the retirement of revenue bonds, may only be made
by the authority in accordance with the provisions of this
article.
(b) There is hereby created in the state treasury a special
fund named the school building debt service fund into which shall
be deposited on and after the first day of April, one thousand
nine hundred ninety-four, the amounts specified in section
eighteen, article twenty-two, chapter twenty-nine of this code.
All amounts deposited in the fund shall be pledged to the
repayment of the principal, interest and redemption premium, if
any, on any revenue bonds or refunding revenue bonds authorized
by this article:
Provided,
That moneys so deposited may not be
pledged to the repayment of any revenue bonds issued prior to the
first day of January, one thousand nine hundred ninety-four, or
with respect to revenue bonds issued for the purpose of refunding
revenue bonds issued prior to the first day of January, onethousand nine hundred ninety-four. The authority may further
provide in the resolution and in the trust agreement for
priorities on the revenues paid into the school building debt
service fund as may be necessary for the protection of the prior
rights of the holders of bonds issued at different times under
the provisions of this article. On or prior to the first day of
May of each year, commencing the first day of May, one thousand
nine hundred ninety-four, the authority shall certify to the
state lottery director the principal and interest and coverage
ratio requirements for the following fiscal year on any revenue
bonds issued on or after the first day of January, one thousand
nine hundred ninety-four, and for which moneys deposited in the
school building debt service fund have been pledged, or will be
pledged, for repayment pursuant to this section:
Provided,
however,
That before the first day of May, one thousand nine
hundred ninety-four, the authority shall also certify to the
lottery director of the state the principal, interest and
coverage ratio requirements for the fiscal year ending on the
thirtieth day of June, one thousand nine hundred ninety-five, on
any revenue bonds issued, or to be issued, on or after the first
day of January, one thousand nine hundred ninety-four.
After the authority has issued bonds authorized by this
article, and after the requirements of all funds have been
satisfied, including coverage and reserve funds established in
connection with the bonds issued pursuant to this article, any
balance remaining in the school building debt service fund may be
used for the redemption of any of the outstanding bonds issuedhereunder which, by their terms, are then redeemable or for the
purchase of the outstanding bonds at the market price, but not to
exceed the price, if any, at which redeemable, and all bonds
redeemed or purchased shall be forthwith canceled and shall not
again be issued.
(c) There is hereby created in the state treasury a special
fund named the school construction fund into which shall be
deposited on and after the first day of July, one thousand nine
hundred ninety-four, the amounts specified in section thirty,
article fifteen, chapter eleven of this code, together with any
moneys appropriated thereto by the Legislature. Expenditures
from the school construction fund shall be for the purposes set
forth in this article, including lease-purchase payments under
agreements made pursuant to subsection (e), section fifteen of
this article and section nine, article five of this chapter and
are authorized from collections in accordance with the provisions
of article three, chapter twelve of this code and from other
revenues annually appropriated by the Legislature from lottery
revenues as authorized by section eighteen, article twenty-two,
chapter twenty-nine of this code, pursuant to the provisions set
forth in article two, chapter five-a of this code. Amounts
collected which are found from time to time to exceed the funds
needed for purposes set forth in this article may be transferred
to other accounts or funds and redesignated for other purposes by
appropriation of the Legislature.
(d) There is hereby created in the state treasury a special
fund named the school major improvement fund into which shall bedeposited on and after the first day of July, one thousand nine
hundred ninety-four, the amounts specified in section thirty,
article fifteen, chapter eleven of this code, together with any
moneys appropriated thereto by the Legislature. Expenditures
from the school major improvement fund shall be for the purposes
set forth in this article and are authorized from collections in
accordance with the provisions of article three, chapter twelve
of this code and from other revenues annually appropriated by the
Legislature from lottery revenues as authorized by section
eighteen, article twenty-two, chapter twenty-nine of this code,
pursuant to the provisions set forth in article two, chapter
five-a of this code. Amounts collected which are found from time
to time to exceed the funds needed for purposes set forth in this
article may be transferred to other accounts or funds and
redesignated for other purposes by appropriation of the
Legislature.
(e) The Legislature hereby finds and declares that the
supreme court of appeals of West Virginia has held that the
issuance of additional revenue bonds authorized under the school
building authority act, as enacted in this article prior to the
twentieth day of July, one thousand nine hundred ninety-three,
constituted an indebtedness of the state in violation of section
4, article X of the constitution of West Virginia, but that
revenue bonds issued hereunder prior to the twentieth day of
July, one thousand nine hundred ninety-three, are not invalid.
The Legislature further finds and declares that the financial
capacity of a county to construct, lease and improve schoolfacilities depends upon the county's bonding capacity (local
property wealth), voter willingness to pass bond issues and the
county's ability to reallocate other available county funds
instead of criteria related to educational needs or upon the
ability of the school building authority created in this article
to issue bonds that comply with said holding of the West Virginia
supreme court of appeals or otherwise assist counties with the
financing of facilities construction and improvement. The
Legislature hereby further finds and declares that this section,
as well as section eighteen, article twenty-two, chapter
twenty-nine of this code, have been reenacted during the first
extraordinary session of the West Virginia Legislature in the
year one thousand nine hundred ninety-four, in an attempt to
comply with said holding of the supreme court of appeals of West
Virginia.
The Legislature hereby further finds and declares that it
intends, through the reenactment of this section and section
eighteen, article twenty-two, chapter twenty-nine of this code,
to dedicate a source of state revenues to special funds for the
purposes of paying the debt service on bonds and refunding bonds
issued subsequent to the first day of January, one thousand nine
hundred ninety-four, the proceeds of which will be utilized for
the construction and improvement of school building facilities.
The Legislature hereby further finds and declares that it
intends, through the reenactment of this section and section
thirty, article fifteen, chapter eleven of this code and section
eighteen, article twenty-two, chapter twenty-nine of this code,to appropriate revenues to two special funds for the purposes of
construction and improvement of school building facilities.
Furthermore, the Legislature intends to encourage county boards
of education to maintain existing levels of county funding for
construction, improvement and maintenance of school building
facilities and to generate additional county funds for such
purposes through bonds and special levies whenever possible. The
Legislature further encourages the school building authority, the
state board of education and county boards of education to
propose uniform project specifications for comparable projects
whenever possible to meet county needs at the lowest possible
cost.
The Legislature hereby further finds and declares that it
intends, through the reenactment of this section and section
eighteen, article twenty-two, chapter twenty-nine of this code,
to comply with the provisions of sections 4 and 6, article X; and
section 1, article XII of the constitution of West Virginia.
§18-9D-8. Use of proceeds of bonds; bonds exempt from taxation.
The maximum aggregate face value of bonds that may be issued
by the authority, for which the moneys in the school building
debt service fund are to be pledged, is one hundred sixty million
dollars. The issuance of revenue bonds under the provisions of
this article shall be authorized from time to time by resolution
or resolutions of the school building authority, which shall set
forth the proposed projects and provide for the issuance of bonds
in amounts sufficient, when sold as hereinafter provided, to
provide moneys considered sufficient by the authority to pay suchcosts, less the amounts of any other funds available for said
costs or from any appropriation, grant or gift therefor:
Provided,
That bond issues from which bond revenues are to be
distributed in accordance with section fifteen of this article
shall not be required to set forth the proposed projects in the
resolution. Such resolution shall prescribe the rights and
duties of the bondholders and the school building authority, and
for such purpose may prescribe the form of the trust agreement
hereinafter referred to. The bonds may be issued from time to
time, in such amounts; shall be of such series; bear such date or
dates; mature at such time or times not exceeding forty years
from their respective dates; bear interest at such rate or rates;
be in such denominations; be in such form, either coupon or
registered, carrying such registration, exchangeability and
interchangeability privileges; be payable in such medium of
payment and at such place or places within or without the state;
be subject to such terms of redemption at such prices not
exceeding one hundred five percent of the principal amount
thereof; and be entitled to such priorities on the revenues paid
into the fund pledged for repayment of the bonds as may be
provided in the resolution authorizing the issuance of the bonds
or in any trust agreement made in connection therewith:
Provided, however,
That revenue bonds issued on or after the
first day of January, one thousand nine hundred ninety-four,
which are secured by lottery proceeds shall mature at such time
or times not exceeding ten years from their respective dates.
The bonds shall be signed by the governor, and by thepresident or vice president of the authority, under the great
seal of the state, attested by the secretary of state, and the
coupons attached thereto shall bear the facsimile signature of
the president or vice president of the authority. In case any of
the officers whose signatures appear on the bonds or coupons
cease to be such officers before the delivery of such bonds, such
signatures shall nevertheless be valid and sufficient for all
purposes the same as if such officers had remained in office
until such delivery. Such revenue bonds shall be sold in such
manner as the authority may determine to be for the best
interests of the state.
Any pledge of revenues made by the school building authority
for revenue bonds issued prior to the twentieth day of July, one
thousand nine hundred ninety-three, pursuant to this article
shall be valid and binding between the parties from the time the
pledge is made; and the revenues so pledged shall immediately be
subject to the lien of such pledge without any further physical
delivery thereof or further act. The lien of such pledge shall
be valid and binding against all parties having claims of any
kind in tort, contract or otherwise, irrespective of whether such
parties have notice of the lien of such pledge, and such pledge
shall be a prior and superior charge over any other use of such
revenues so pledged.
The proceeds of such any bonds shall be used solely for the
purpose or purposes as may be generally or specifically set forth
in the resolution authorizing those bonds and shall be disbursed
in such manner and with such restrictions, if any, as theauthority may provide in the resolution authorizing the issuance
of such bonds or in the trust agreement hereinafter referred to
securing the same. If the proceeds of such bonds, by error in
calculations or otherwise, shall be less than the cost of any
projects specifically set forth in the resolution, additional
bonds may in like manner be issued to provide the amount of the
deficiency; and unless otherwise provided for in the resolution
or trust agreement hereinafter mentioned, such additional bonds
shall be considered to be of the same issue, and shall be
entitled to payment from the same fund, without preference or
priority, as the bonds before issued for such projects. If the
proceeds of bonds issued for such projects specifically set forth
in the resolution authorizing such bonds issued by the authority
exceed the cost thereof, the surplus may be used for such other
projects as the school building authority may determine or in
such other manner as the resolution authorizing such bonds may
provide. Prior to the preparation of definitive bonds, the
authority may, under like restrictions, issue temporary bonds
with or without coupons, exchangeable for definitive bonds upon
the issuance of such definitive bonds.
After the issuance of any of such revenue bonds, the
revenues therefore pledged shall not be reduced as long as any of
such revenue bonds are outstanding and unpaid except under such
terms, provisions and conditions as shall be contained in the
resolution, trust agreement or other proceedings under which such
revenue bonds were issued.
Such revenue bonds and the revenue refunding bonds, andbonds issued for combined purposes shall, together with the
interest thereon, be exempt from all taxation by the state of
West Virginia, or by any county, school district, municipality or
political subdivision thereof.
To meet the operational costs of the school building
authority, the school building authority may transfer to a
special revenue account in the state treasury interest on any
debt service reserve funds created within any resolution
authorizing the issue of bonds or any trust agreement made in
connection therewith, for expenditure in accordance with
legislative appropriation or allocation of appropriation.
§18-9D-15. Legislative intent; distribution of money.
(a) It is the intent of the Legislature to empower the
school building authority to facilitate and provide state funds
for the construction and major improvement of school facilities
so as to meet the educational needs of the people of this state
in an efficient and economical manner. The authority shall make
funding determinations in accordance with the provisions of this
article and shall assess existing school facilities and each
facility's school major improvement plan in relation to the needs
of the individual student, the general school population, the
communities served by the facilities and facility needs
statewide.
(b) An amount that is no more than three percent of the sum
of moneys that are determined by the authority to be available
for distribution during the then current fiscal year from: (1)
Moneys paid into the school building capital improvements fundpursuant to section ten, article nine-a of this chapter; (2) the
issuance of revenue bonds for which moneys in the school building
debt service fund are pledged as security; (3) moneys paid into
the school construction fund pursuant to section six of this
article; and (4) any other moneys received by the authority,
except moneys paid into the school major improvement fund
pursuant to section six of this article, may be allocated and may
be expended by the authority for projects that service the
educational community statewide or, upon application by the state
board, for educational programs that are under the jurisdiction
of the state board. In addition, upon application by the state
board or the administrative council of an area vocational
educational center established pursuant to article two-b of this
chapter, the authority may allocate and expend hereunder moneys
for school major improvement projects proposed by the state board
or such administrative council for school facilities under the
direct supervision of the state board or such administrative
council, respectively:
Provided,
That the authority may not
expend any moneys for a school major improvement project proposed
by the state board or the administrative council of an area
vocational educational center unless the state board or such
administrative council has submitted a ten-year school major
improvement plan, to be updated annually, pursuant to section
sixteen of this article:
Provided, however,
That the authority
shall, before allocating any moneys to the state board or the
administrative council of an area vocational educational center
for a school improvement project, consider all other fundingsources available for such project.
(c) An amount that is no more than two percent of the moneys
that are determined by the authority to be available for
distribution during the current fiscal year from: (1) Moneys
paid into the school building capital improvements fund pursuant
to section ten, article nine-a of this chapter; (2) the issuance
of revenue bonds for which moneys in the school building debt
service fund are pledged as security; (3) moneys paid into the
school construction fund pursuant to section six of this article;
and (4) any other moneys received by the authority, except moneys
deposited into the school major improvement fund, shall be set
aside by the authority as an emergency fund to be distributed in
accordance with the guidelines adopted by the school building
authority.
(d) The remaining moneys determined by the authority to be
available for distribution during the then current fiscal year
from: (1) Moneys paid into the school building capital
improvements fund pursuant to section ten, article nine-a of this
chapter; (2) the issuance of revenue bonds for which moneys in
the school building debt service fund are pledged as security;
(3) moneys paid into the school construction fund pursuant to
section six of this article; and (4) any other moneys received by
the authority, except moneys deposited into the school major
improvement fund, shall be allocated and expended on the basis of
need and efficient use of resources, such basis to be determined
by the authority in accordance with the provisions of section
sixteen of this article.
(e) If a county board of education proposes to finance a
project that is approved pursuant to section sixteen of this
article through a lease with an option to purchase leased
premises upon the expiration of the total lease period pursuant
to an investment contract, the authority may allocate no moneys
to such county board in connection therewith:
Provided,
That
the authority may transfer moneys to the state board of
education, which, with the authority, shall lend the amount so
transferred to such county board to be used only for a one-time
payment due at the beginning of the lease term, made for the
purpose of reducing annual lease payments under the investment
contract, subject to the following conditions:
(1) Such a loan shall be secured in the manner required by
the authority, in consultation with the state board, and shall be
repaid in a period and bear interest at a rate as determined by
the state board and the authority and shall have such terms and
conditions as are required by the authority, all of which shall
be set forth in a loan agreement among the authority, the state
board of education and such county board;
(2) Such loan agreement shall provide for the state board
and the authority to defer the payment of principal and interest
upon any loan made to such county board during the term of such
investment contract, and annual renewals thereof, among the state
board, the authority, such county board and a lessor:
Provided,
That in the event a county board of education, which has received
a loan from the state building authority for a one-time payment
at the beginning of the lease term, does not renew the subjectlease annually until performance of the investment contract in
its entirety is completed:
Provided, however,
That if a county
board renews the lease annually through the performance of the
investment contract in its entirety, the county board shall
exercise its option to purchase the leased premises:
Provided
further,
That the failure of such county board to make a
scheduled payment pursuant to the investment contract shall
constitute an event of default under the loan agreement:
And
provided further,
That upon such a default by a county board, the
principal of the loan, together with all unpaid interest accrued
to the date of such default, shall at the option of the
authority, in consultation with the state board, become due and
payable immediately or subject to renegotiation among the state
board, the authority and such county board:
And provided
further,
That if the loan becomes due and payable immediately,
the authority, in consultation with the state board, shall use
all means available under the loan agreement and law to collect
the outstanding principal balance of the loan, together with all
unpaid interest accrued to the date of payment of such
outstanding principal balance; and
(3) Such loan agreement shall provide for the state board
and the authority to forgive all principal and interest of the
loan upon the county board purchasing the leased premises
pursuant to the investment contract and performance of the
investment contract in its entirety.
To encourage county boards to proceed promptly with
facilities planning and to prepare for the expenditure of anystate moneys derived from the sources described in this
subsection, any county board failing to expend money within three
years of the allocation thereto shall forfeit such allocation and
thereafter shall be ineligible for further allocations pursuant
to this subsection until the county board is ready to expend
funds in accordance with an approved facilities plan:
Provided,
That the authority may authorize an extension beyond the
three-year forfeiture period not to exceed an additional two
years. Any amount so forfeited shall be added to the total funds
available in the school construction fund of the authority for
future allocation and distribution.
(f) The remaining moneys that are determined by the
authority to be available for distribution during the then
current fiscal year from moneys paid into the school major
improvement fund pursuant to section six of this article shall be
allocated and distributed on the basis of need and efficient use
of resources, such basis to be determined by the authority in
accordance with the provisions of section sixteen of this
article:
Provided,
That such moneys may not be distributed to any
county board that does not have an approved school major
improvement plan or to any county board that is not prepared to
commence expenditures of such funds during the fiscal year in
which the moneys are distributed:
Provided, however,
That any
moneys allocated to a county board and not distributed to that
county board shall be deposited in an account to the credit of
that county board, such principal amount to remain to the credit
of and available to the county board for a period of two years. Any moneys which are unexpended after a two-year period shall be
redistributed on the basis of need from the school major
improvement fund in that fiscal year.
(g) No local matching funds may be required under the
provisions of this section. However, the responsibilities of the
county boards of education to maintain school facilities shall
not be negated by the provisions of this article, and therefore,
to be eligible to receive an allocation of school major
improvement funds from the authority, a county board must have
expended in the previous fiscal year an amount of county moneys
equal to or exceeding the lowest average amount of money included
in such county board's maintenance budget over any three of the
previous five years and must have budgeted an amount equal to or
greater than said average in the current fiscal year:
Provided,
That the state board of education shall promulgate rules relating
to county boards' maintenance budgets, including items which
shall be included therein, as soon as practical and submitted for
legislative review no later than the first day of December, one
thousand nine hundred ninety-four.
(h) Any county board may use moneys provided by the
authority under this article in conjunction with local funds
derived from bonding, special levy or other sources.
Distribution to a county board, or to the state board or the
administrative council of an area vocational educational center
pursuant to subsection (b) of this section, may be in a lump sum
or in accordance with a schedule of payments adopted by the
authority pursuant to such guidelines as it shall adopt.
§18-9D-16. Facilities and major improvement plans generally;
need-based eligibility.
(a) To facilitate the goals as stated in section fifteen of
this article and to assure the prudent and resourceful
expenditure of state funds for construction projects as described
in subsection (d) of said section, each county board of education
shall submit a county-wide comprehensive educational facilities
plan that addresses the facilities and major improvement needs of
the county pursuant to such guidelines as shall be adopted by the
authority in accordance with this section and in accordance with
each county's facilities plan approved by the state board of
education. Any project receiving funding shall be in furtherance
of such approved county-wide facilities plan.
(1) To assure efficiency and productivity in the project
approval process, the county-wide facilities plan shall be
submitted only after a preliminary plan, a plan outline or a
proposal for a plan has been submitted to the authority.
Selected members of the authority, which selection shall include
citizen members, shall then meet promptly with those persons
designated by the county board to attend the facilities plan
consultation. The purpose of the consultation is to assure
understanding of the general goals of the school building
authority and the specific goals encompassed in the following
criteria and to discuss ways the plan may be structured to meet
those goals.
(2) The guidelines for the development of a facilities plan
shall state the manner, timeline and process for submission ofany plan to the authority; such project specifications as may be
deemed appropriate by the authority; and those matters which are
deemed by the authority to be important reflections of how the
project will further the overall goals of the authority.
(b) To facilitate the goals as stated in section fifteen of
this article and to assure the prudent and resourceful
expenditure of state funds derived from the school major
improvement fund, each county board of education shall submit to
the authority a ten-year county-wide school major improvement
plan that addresses the major improvement needs of each school
within the county. If the state board of education or the
administrative council of an area vocational educational center
chooses to seek funding for a major improvement project from the
authority pursuant to subsection (f) of said section, the state
board or such administrative council shall submit a ten-year
school major improvement plan that addresses the major
improvement needs of the school or area vocational educational
center for which funding is sought. Each ten-year school major
improvement plan shall be prepared pursuant to such guidelines as
shall be adopted by the authority in accordance with this section
and shall be updated annually to reflect projects completed and
new or continuing needs. Any school major improvement project
funded by the authority shall be in furtherance of such approved
school major improvement plan.
The guidelines for the development and annual updates of a
ten-year school major improvement plan shall state the manner,
timeline and process for submission of any plan, including arepair and replacement schedule for school facilities, to the
authority; such maintenance specifications as may be deemed
appropriate by the authority; and those matters which are deemed
by the authority to be important reflections of how the major
improvement project or projects will further the overall goals of
the authority.
(c) The guidelines regarding submission of the facilities
plans and school major improvement plans shall include
requirements for public hearings, comments or other means of
providing broad-based input within a reasonable time period as
the authority may deem appropriate. The submission of each plan
shall be accompanied by a synopsis of all comments received and
a formal comment by the county board, the state board or the
administrative council of an area vocational educational center
submitting such plan.
The guidelines regarding project specifications may include
such matters as energy efficiency, preferred siting, construction
materials, maintenance plan or any other matter related to how
the project is to proceed. If a county board of education
proposes to finance a construction project through a lease with
an option to purchase pursuant to an investment contract as
described in subsection (e), section fifteen of this article, the
specifications for such project shall include the term of the
lease, the amount of each lease payment, including the payment
due upon exercise of the option to purchase, and the terms and
conditions of the proposed investment contract.
(d) The guidelines pertaining to quality educationalfacilities shall require that a facilities plan address how the
current facilities do not meet and how the proposed plan and any
project thereunder does meet the following goals:
(1) Student health and safety;
(2) Economies of scale, including compatibility with similar
schools that have achieved the most economical organization,
facility utilization and pupil-teacher ratios;
(3) Reasonable travel time and practical means of addressing
other demographic considerations;
(4) Multicounty and regional planning to achieve the most
effective and efficient instructional delivery system;
(5) Curriculum improvement and diversification, including
computerization and technology and advanced senior courses in
science, mathematics, language arts and social studies;
(6) Innovations in education;
(7) Adequate space for projected student enrollments; and
(8) To the extent constitutionally permissible, each
facilities plan shall address the history of efforts taken by the
county board to propose or adopt local school bond issues or
special levies.
If the project is to benefit more than one county in the
region, the facilities plan shall state the manner in which the
cost and funding of the project shall be apportioned among the
counties.
(e) The guidelines pertaining to quality educational
facilities shall require that a school major improvement plan
address how the proposed plan and any project thereunder meet thefollowing goals:
(1) Student health and safety, including, but not limited
to, critical health and safety needs; and
(2) Economies of scale, including regularly scheduled
preventive maintenance:
Provided,
That each county board's
school maintenance plan shall address regularly scheduled
maintenance for all facilities within the county.
(f) Each county board's facilities plan and school major
improvement plan shall prioritize all the construction projects
or major improvement projects, respectively, within the county.
A school major improvement plan submitted by the state board or
the administrative council of an area vocational educational
center shall prioritize all the school improvement projects
contained in such plan. Such priority list shall be one of the
criteria to be considered by the authority in determining how
available funds shall be expended. In prioritizing the projects,
the county board, the state board or the administrative council
submitting a plan shall make determinations in accordance with
the objective criteria formulated by the school building
authority.
(g) Each facilities plan and school major improvement plan
shall include the objective means to be utilized in evaluating
implementation of the overall plan and each project included
therein. Such evaluation shall measure each project's
furtherance of each applicable goal stated in this section and
any guidelines adopted hereunder, as well as the overall success
of any project as it relates to the facilities plan or schoolmajor improvement plan and the overall goals of the authority.
(h) The state department of education shall conduct on-site
inspections, at least annually, of all facilities which have been
funded wholly or in part by moneys from the authority or state
board to ensure compliance with the county board's facilities
plan and school major improvement plan as related to such
facilities; to preserve the physical integrity of the facilities
to the extent possible; and to otherwise extend the useful life
of the facilities:
Provided,
That the state board shall submit
reports regarding its on-site inspections of facilities to the
authority within thirty days of completion of such on-site
inspections:
Provided, however,
That the state board shall
promulgate rules regarding such on-site inspections and matters
relating thereto, in consultation with the authority, as soon as
practical and shall submit such proposed rules for legislative
review no later than the first day of December, one thousand nine
hundred ninety-four.
(i) The authority may adopt guidelines for requiring that a
county board modify, update, supplement or otherwise submit
changes or additions to an approved facilities plan or for
requiring that a county board, the state board or the
administrative council of an area vocational educational center
modify, update, supplement or otherwise submit changes or
additions to an approved county board facilities plan or school
major improvement plan. The authority shall provide reasonable
notification and sufficient time for such change or addition as
delineated in guidelines developed by the authority.
(j) Based on its on-site inspection or notification by the
authority to the state board that the changes or additions to a
county's board facilities plan or school major improvement plan
required by the authority have not been implemented within the
time period prescribed by the authority, the state board shall
restrict the use of the necessary funds or otherwise allocate
funds from moneys appropriated by the Legislature for those
purposes set forth in section nine, article nine-a of this
chapter.
CHAPTER 29. MISCELLANEOUS BOARDS AND OFFICERS.
ARTICLE 22. STATE LOTTERY ACT.
§29-22-18. State lottery fund; appropriations and deposits; not
part of general revenue; no transfer of state funds after
initial appropriation; use and repayment of initial
appropriation; allocation of fund for prizes, net profit and
expenses; surplus; state lottery education fund; state
lottery senior citizens fund; allocation and appropriation
of net profits.
(a) There is hereby created a special fund in the state
treasury which shall be designated and known as the "state
lottery fund". The fund shall consist of all appropriations to
the fund and all interest earned from investment of the fund and
any gifts, grants or contributions received by the fund. All
revenues received from the sale of lottery tickets, materials and
games shall be deposited with the state treasurer and placed into
the "state lottery fund". The revenue shall be disbursed in the
manner herein provided for the purposes stated herein and shallnot be treated by the auditor and treasurer as part of the
general revenue of the state.
(b) No appropriation, loan or other transfer of state funds
may be made to the commission or lottery fund after the initial
appropriation.
(c) A minimum annual average of forty-five percent of the
gross amount received from each lottery shall be allocated and
disbursed as prizes.
(d) Not more than fifteen percent of the gross amount
received from each lottery shall be allocated to and may be
disbursed as necessary for fund operation and administration
expenses.
(e) The excess of the aggregate of the gross amount received
from all lotteries over the sum of the amounts allocated by
subsections (c) and (d) of this section shall be allocated as net
profit. The director is authorized to expend the necessary
percentage of the amount allocated as net profit, not to exceed
six percent of the gross amount received, for the purposes of
entering into contractual arrangements for the acquisition,
financing, lease and lease-purchase, and other financing
transactions, of lottery goods and services, including tickets,
equipment, machinery, electronic computer systems and terminals,
and supplies and maintenance therefor, for the first thirty-six
months of operation, and may apportion the costs, expenses and
expenditures related thereto among the commission, vendor or
vendors and licensed lottery sales agents. In the event that the
percentage allotted for operations and administration generatesa surplus, the surplus will be allowed to accumulate to an amount
not to exceed two hundred fifty thousand dollars. On a monthly
basis the director shall report to the joint committee on
government and finance of the Legislature any surplus in excess
of two hundred fifty thousand dollars and remit to the state
treasurer the entire amount of those surplus funds in excess of
two hundred fifty thousand dollars which shall be allocated as
net profit.
(f) After satisfying the requirements for funds dedicated to
the school building debt service fund in subsection (h) of this
section to retire the ten-year bonds authorized to be issued
pursuant to section eight, article nine-d, chapter eighteen of
this code, the Legislature shall annually appropriate all of the
remaining amounts allocated as net profits above, in such
proportions as it deems beneficial to the citizens of this state,
to: (1) The lottery education fund created in subsection (g) of
this section; (2) the school construction fund as created in
section six, article nine-d, chapter eighteen of this code; (3)
the lottery senior citizens fund created in subsection (i) of
this section; and (4) the commerce division created in article
one, chapter five-b of this code, in accordance with subsection
(j) of this section:
Provided,
That no transfer to any account
other than the school building debt service account may be made
in any period in which a default exists in respect to debt
service on bonds issued by the school building authority which
are secured by lottery proceeds:
Provided, however,
That no
additional transfer shall be made to any account other than theschool building debt service account when net profits for the
preceding twelve months are not at least equal to one hundred
fifty percent of debt service on bonds issued by the school
building authority which are secured by net profits.
(g) There is hereby created a special fund in the state
treasury which shall be designated and known as the "lottery
education fund". The fund shall consist of the amounts allocated
pursuant to subsection (f) of this section, which amounts shall
be deposited into the lottery education fund by the state
treasurer. The lottery education fund shall also consist of all
interest earned from investment of the lottery education fund and
any other appropriations, gifts, grants, contributions or moneys
received by the lottery education fund from any source. The
revenues received or earned by the lottery education fund shall
be disbursed in the manner provided below and shall not be
treated by the auditor and treasurer as part of the general
revenue of the state. Annually, the Legislature shall
appropriate the revenues received or earned by the lottery
education fund to the state system of public and higher education
for such educational programs as it considers beneficial to the
citizens of this state.
(h) Beginning on or before the twenty-eighth day of July,
one thousand nine hundred ninety-four, and continuing on or
before the twenty-eighth day of each succeeding month thereafter
through the thirtieth day of June, two thousand five, the lottery
director shall allocate to the school building debt service fund
created pursuant to the provisions of section six, articlenine-d, chapter eighteen of this code, as a first priority from
the net profits of the lottery for the preceding month, an amount
equal to one tenth of the projected annual principal, interest
and coverage ratio requirements on any and all revenue bonds and
refunding bonds issued, or to be issued, on or after the first
day of April, one thousand nine hundred ninety-four, as certified
to the lottery director in accordance with the provisions of said
section:
Provided,
That in no event shall said monthly amount
exceed one million eight hundred thousand dollars:
Provided,
however,
That in no event shall the total allocation of said net
profits to be paid into the school building debt service fund, as
provided in this section, in any fiscal year exceed the lesser of
the principal and interest requirements certified to the lottery
director as aforesaid, or eighteen million dollars:
Provided
further,
That in the event there are insufficient funds available
in any month to transfer the amount required to be transferred
pursuant to this subsection to the school debt service fund, the
deficiency shall be added to the amount transferred in the next
succeeding month in which revenues are available to transfer said
deficiency:
And provided further,
That a lien on the proceeds of
the state lottery fund up to a maximum amount equal to the
projected annual principal, interest and coverage ratio
requirements, not to exceed twenty-seven million dollars
annually, may be granted by the authority in favor of the bonds
issued by the authority which are secured by the net lottery
profits.
(i) There is hereby created a special fund in the statetreasury which shall be designated and known as the "lottery
senior citizens fund". The fund shall consist of the amounts
allocated pursuant to subsection (f) of this section, which
amounts shall be deposited into the lottery senior citizens fund
by the state treasurer. The lottery senior citizens fund shall
also consist of all interest earned from investment of the
lottery senior citizens fund and any other appropriations, gifts,
grants, contributions or moneys received by the lottery senior
citizens fund from any source. The revenues received or earned
by the lottery senior citizens fund shall be disbursed in the
manner provided below and shall not be treated by the auditor or
treasurer as part of the general revenue of the state. Annually,
the Legislature shall appropriate the revenues received or earned
by the lottery senior citizens fund to such senior citizens
medical care and other programs as it considers beneficial to the
citizens of this state.
(j) The commerce division may use the amounts allocated to
it pursuant to subsection (f) of this section for one or more of
the following purposes: (1) The payment of any or all of the
costs incurred in the development, construction, reconstruction,
maintenance or repair of any project or recreational facility, as
such terms are defined in section thirteen-a, article one,
chapter five-b of this code, pursuant to the authority granted to
it under said article; (2) the payment, funding or refunding of
the principal of, interest on or redemption premiums on any
bonds, security interests or notes issued by the parks and
recreation section of the commerce division under article one,chapter five-b of this code; or (3) the payment of any
advertising and marketing expenses for the promotion and
development of tourism or any tourist facility or attraction in
this state.
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