This bill aims to amend the Code of West Virginia by terminating the authority of the West Virginia Parkways Authority to issue any further parkway revenue, parkway revenue refunding, or special obligation bonds after July 1, 2025. The proposed legal language specifies that after this date, no new bonds may be issued for any parkways project or for any expansions or significant alterations to existing parkways projects. This change is reflected in the insertion of new language in sections 17-16A-10, 17-16A-21, and 17-16A-25, which clearly states the termination of the Parkways Authority's powers regarding bond issuance.

The bill emphasizes the cessation of the Parkways Authority's bond issuance capabilities, which is a significant shift in the management of parkway financing in West Virginia. By eliminating the ability to issue new bonds, the legislation seeks to restrict future financial obligations related to parkway projects, thereby potentially impacting funding for infrastructure development and maintenance in the state. The bill's provisions are designed to ensure that no additional financial commitments are made by the Parkways Authority beyond the specified date.

Statutes affected:
Introduced Version: