The board of governors of West Virginia University shall have authority, as provided
in this article, to issue revenue bonds of the State, not to exceed twenty million
dollars in principal amount thereof, to refund bonds issued and outstanding under
and pursuant to the provisions of article eleven-a of this chapter and this article
and to finance the cost of providing new facilities, buildings and structures for
West Virginia University including, but not limited to, buildings and structures suitable
for use as an academic building, library, laboratory, research facility, maintenance
or storage or utility facility and other facilities related thereto or essential or
convenient for the instruction of students or the conducting of research or the operation
of West Virginia University as an institution for higher education, and also including
athletic facilities and stadia as well as parking and other facilities, buildings
or structures essential or convenient for the orderly conduct of West Virginia University
as an institution for higher education, together with, in each case, land for current
or future use in connection therewith and equipment and machinery and other similar
items essential or convenient for the operation of a particular facility, building
or structure in the manner for which its use is intended but not including such items
as books, fuel, supplies or other items which are customarily deemed to result in
a current operating charge. The principal of and interest on such bonds shall be payable solely from the special
nonrevolving fund herein provided for such payment. The cost of any such facility, building or structure shall include the cost of acquisition
of land, the construction and equipment of any such facility, building or structure
and the provision for roads, utilities and other services necessary, appurtenant or
incidental to such facilities, buildings or structures, and shall also include all
other charges or expenses necessary, appurtenant or incidental to the construction,
financing and placing in operation of any such facility, building or structure.
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