Public finance law includes state and federal laws and regulations governing the financing of public organizations and projects. For example, public finance laws and regulations govern the sale and purchase of bonds to build or improve schools, parks, roads, airports, cultural facilities, recreational facilities, entertainment venues (sports arenas), and other public works projects.

Bonds are debts issued by governments (the debtor), for example, to purchasers of the bonds (the creditors), with a promise to pay the bondholder interest (a coupon) and repay the principal amount upon a certain date (maturity date)—similar to an IOU or loan agreement. Bonds are securities that can often be traded (bought and sold) to and from others on the secondary market.

In West Virginia (WV), public finance law is governed by both state statutes and federal regulations. These laws oversee the issuance and management of public debt, including the sale and purchase of bonds for financing various public projects such as schools, parks, roads, and cultural facilities. The state government, counties, municipalities, and other public entities may issue bonds as a way to raise funds for these projects. Bondholders are typically entitled to receive periodic interest payments and the return of principal on the maturity date. The West Virginia State Auditor's Office plays a key role in overseeing public finances, including the issuance of bonds. Additionally, public finance in WV must comply with relevant federal laws, such as the Securities Act of 1933 and the Securities Exchange Act of 1934, which regulate the trading of securities, including municipal bonds. These federal laws ensure that bond transactions are conducted fairly and transparently, protecting investors and the integrity of the financial markets.