West Virginia § 8-37-2 Findings and declarations

West Virginia Statutes

§ 8-37-2 — Findings and declarations

West Virginia § 8-37-2

Ch. 8MUNICIPAL CORPORATIONS

Art. 37MUNICIPAL FINANCIAL STABILIZATION FUND ACT

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Bluebook

W. Va. Code § 8-37-2 (2026).

Text

The Legislature finds and declares that:

(1)Municipalities should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and

(2)The creation, maintenance and use of a financial stabilization fund will provide municipalities with assistance to meet these challenges, as well as enable them to improve their financial management and practices.

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The Legislature finds and declares that:

(1) Municipalities should maintain a prudent level of financial resources to try to protect against reducing service levels or raising taxes and fees because of temporary revenue shortfalls, unpredicted one-time expenditures or emergency situations; and

(2) The creation, maintenance and use of a financial stabilization fund will provide municipalities with assistance to meet these challenges, as well as enable them to improve their financial management and practices.