§18-9D-4a. Savings from issuance of refunding bonds.
50 words·~1 min read·
/wv/chapter-18-education/article-9d-school-building-authority/18-9d-4a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any aggregate savings resulting from the issuance of refunding bonds pursuant to section four of this article shall be retained by the School Building Authority. Any savings shall be utilized solely for the construction and maintenance of schools and may not be used to fund administrative costs of the authority.