West Virginia Code 13-2H-8 – Redemption of bonds
Current as of: 2023 | Check for updates
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The lottery revenue bonds issued pursuant to this article may contain a provision therein to the effect that they, or any of them, may be called for redemption at any time prior to maturity by the governmental body and at such redemption prices or premiums, which terms shall be stated in the bond.
Terms Used In West Virginia Code 13-2H-8
- Governmental body: means any municipality, county or board of education that receives lottery revenues. See West Virginia Code 13-2H-2
- Lottery revenue bonds: means bonds, debentures, notes, certificates of participation, certificates of beneficial interest, certificates of ownership or other evidences of indebtedness or ownership that are issued by a governmental body, the proceeds of which are used directly or indirectly to finance or refinance public projects pursuant to this article and are secured by the lottery revenues of the governmental body. See West Virginia Code 13-2H-2