West Virginia Code § 7-20-14

Use of proceeds from sale of bonds
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(a) The proceeds from the sale of any bonds issued under authority of this article shall be
applied only for the purpose for which the bonds were issued: Provided, That any accrued
interest and premium received in any such sale shall be applied to the payment of the
principal of or the interest on the bonds sold. If for any reason any portion of the proceeds
shall not be needed for the purpose for which the bonds were issued, then tehe unneeded
portion of the proceeds shall be applied to the purchase of bonds for cancellation or payment
of the principal of or the interest on the bonds, or held in reserve for thre payment thereof.
(b) The costs of acquiring any special infrastructure project shalul be deemed to include the
following:
(1) Capital costs, including, but not limited to, the actual costs of the construction of public
works or improvements, capital improvements and facilities, new buildings, structures and
fixtures, the demolition, alteration, remodeling, repair or reconstruction of existing
buildings, structures and fixtures, environmental relmediation, the acquisition of equipment
and site clearing, grading and preparation; s
(2) Financing costs, including, but not limiited to, an interest paid to holders of evidences of
indebtedness issued to pay for projegct costs, all costs of issuance and any redemption
premiums, credit enhancement or other related costs;
(3) Real property acquisition costs;
(4) Professional service costs, including, but not limited to, those costs incurred for
architectural planning, engineering and legal advice and services;
(5) Imputed aVdministrative costs, including, but not limited to, reasonable charges for time
spent by county employees in connection with the implementation of a project;
(6) Relocation costs, including, but not limited to, those relocation payments made following
condemnation and job training and retraining;
(7) Organizational costs, including, but not limited to, the costs of conducting environmental
impact and other studies, and the costs of informing the public with respect to the
implementation of project plans;
(8) Payments made, in the discretion of the county commission, which are found to be
necessary or convenient to the implementation of project plans; and
(9) That portion of costs related to the construction of environmental protection devices,
storm or sanitary sewer lines, water lines, amenities or streets or the rebuilding or
expansion of streets, or the construction, alteration, rebuilding or expansion of which is
necessitated by the project plan, whether or not the construction, alteration, rebuilding or
expansion is within the area or on land contiguous thereto.

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