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.
W. Va. Code § 18-9D-4a
Savings from issuance of refunding bonds
Official source: West Virginia Legislature. Reproduced from public-domain West Virginia statutes; confirm against the official source for the current text. Not legal advice.