West Virginia Code 17-16F-22 – Investment of funds by division
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Funds of the State Rail Section in excess of current needs, except as otherwise provided in any authorization for the issuance of railroad maintenance revenue bonds or in any trust agreement securing the same, may be invested by the West Virginia Investment Management Board as authorized to invest under § 12-6-1 et seq. of this code. Income from all such investments of moneys in any fund shall be credited to such funds as the commissioner determines, subject to the provisions of any authorization or trust agreement and such investments may be sold at such times as the commissioner, determines.
Terms Used In West Virginia Code 17-16F-22
- Commissioner: means the chief operating officer and administrative head of the Multimodal Division, when such person is appointed by the Secretary of Transportation. See West Virginia Code 17-16F-3
- Income: means and includes all money accruing to the division or part thereof from any source. See West Virginia Code 17-16F-3
- Railroad: means a common carrier by railroad as defined in Section 10102 of the Interstate Transportation Act (49 U. See West Virginia Code 17-16F-3
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10