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Current as of January 01, 2024 | Updated by Findlaw Staff
The authority may incur any proper indebtedness and issue any obligations and give any security therefor which it may deem necessary or advisable in connection with carrying out its purposes as hereinbefore mentioned. No statutory limitation with respect to the nature, or amount, interest rate or duration of indebtedness which may be incurred by municipalities or other public bodies shall apply to indebtedness of the authority. No indebtedness of any nature of the authority shall constitute an indebtedness of the governing body of the municipality or county commission of the municipality or county in which the commission is intended to operate or any municipality situated therein, or a charge against any property of said county commission, municipalities, or other appointing agencies. The rights of creditors of the authority shall be solely against the authority as a corporate body and shall be satisfied only out of property held by it in its corporate capacity.
Cite this article: FindLaw.com - West Virginia Code Chapter 7. County Commissions and Officers § 7-12-8. Incurring indebtedness; rights of creditors - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-7-county-commissions-and-officers/wv-code-sect-7-12-8/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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