CHARLESTON —
CHARLESTON (AP) — Many counties and municipalities in West Virginia haven’t taken advantage of a federal stimulus program allowing them to issue tax-exempt bonds for public projects.
West Virginia was allocated $90 million in bonding capacity. Local governments in 44 eligible counties could apply to issue bonds.
The West Virginia Economic Development Authority says county commissions and municipalities in only 14 eligible counties took advantage of the program. They applied to issue bonds totaling $36.8 million.
That leaves $53 million in bonding capacity, which the authority plans to reallocate by April 1.
Warner says the deadline for issuing bonds is Dec. 31. Any portion of West Virginia’s allocation that isn’t used by then will be lost.
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