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 new legal language specifies that after this date, no additional bonds may be issued for any parkways project or for any expansions or significant alterations to existing parkways projects. This change is intended to limit the financial capabilities of the Parkways Authority in relation to future bond issuance.

The bill includes specific provisions that will take effect on July 1, 2025, which will effectively end the Parkways Authority's power to issue new bonds. The amendments are reflected in sections 17-16A-10, 17-16A-21, and 17-16A-25 of the Code, where the new language clearly states the termination of these powers and the prohibition on issuing new bonds for parkway projects. This legislative change is designed to provide a clear endpoint for the Parkways Authority's financial activities concerning bond issuance.

Statutes affected:
Introduced Version: