TITLE

West Virginia High Court Throws Roadblock In Front of Lottery Bond Plans

AUTHOR(S)
Newman, Emily
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/19/2003, Vol. 344 Issue 31638, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
In a decision that could delay West Virginia's plans to issue more than $200 million of lottery-backed revenue bonds for development projects, the state Supreme Court ruled that members of the West Virginia Economic development Grant Committee were unconstitutionally appointed, but upheld its ability to fund grants with lottery-backed revenue bonds. The justices upheld the committee's basic function of funding job-and community-boosting projects with grants backed by public bonds, but criticized the way the Legislature provided for the appointment of the nine-member committee, saying it violated a stipulated separation between the legislative and executive branches of the state government.
ACCESSION #
9880735

 

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