DE - Debt Limitation

File:  DE

Debt Limitation

            The Clay County Board of Education as authorized by the Constitution of the State may levy and collect an annual tax sufficient to pay the principal and interest on any bonded indebtedness, provided that the levy and the indebtedness cannot exceed five per cent of the taxable property within the county.

Adopted:  July 1976

Reference:  Constitution of the State of West Virginia, Article X, Section 8;

                   School Laws of West Virginia, 13-1-34

Clay County Board of Education