West Virginia Code 7-27-14 – Creation of County Road Improvement Account
(a) Account created. – There is hereby created in the State Treasury a Special Revenue Revolving Fund account known as the "County Road Improvement Account” which is an interest-bearing account that shall be invested in the manner described in section nine-c, article six, chapter twelve of this code, with the interest income a proper credit to the account.
Terms Used In West Virginia Code 7-27-14
- Commissioner of Highways: means the chief executive officer of the Division of Highways of the Department of Transportation provided in section one, article two-a, chapter . See West Virginia Code 7-27-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County transportation sales and use taxes: means the transportation sales tax and the transportation use tax imposed by a county commission pursuant to this article. See West Virginia Code 7-27-3
- Person: includes any individual, firm, partnership, joint venture, joint stock company, association, public or private corporation, limited liability company, limited liability partnership, cooperative, estate, trust, business trust, receiver, executor, administrator, any other fiduciary, any representative appointed by order of any court or otherwise acting on behalf of others, or any other group or combination acting as a unit and the plural as well as the singular number. See West Virginia Code 7-27-3
- Road: means a public highway, road, bridge, tunnel, or overpass to be used for the transportation of persons or goods including bicycle and pedestrian facilities. See West Virginia Code 7-27-3
- 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
(b) County subaccount. – A separate and segregated subaccount within the account shall be established for each county that imposes a county transportation sales and use tax pursuant to this article.
(c) Additional funds. – In addition to the county transportation sales and use taxes levied and collected as provided in this article, funds paid into the account for the credit of any subaccount may also be derived from the following sources:
(1) All interest or return on the investment accruing to the subaccount;
(2) Any gifts, grants, bequests, transfers, appropriations or donations which are received from any governmental entity or unit or any person, firm, foundation or corporation; and
(3) Any appropriations by the Legislature which are made for this purpose.
(d) Expenditures from account. – The Commissioner of Highways may withdraw funds from a county’s subaccount only in accordance with one or more intergovernmental agreements or contracts executed by the county commission of that county.