                                 CODE OF VIRGINIA

CREDIT OF COMMONWEALTH AND POLITICAL SUBDIVISIONS NOT PLEDGED (§ 15.2-7215)

Bonds issued under the provisions of this chapter shall not be deemed to
constitute a debt of the Commonwealth of Virginia, or any political subdivision
thereof other than the Authority, but such bonds shall be payable solely from
the funds provided therefor as herein authorized. All such bonds shall state on
their face that neither the Commonwealth of Virginia nor any political
subdivisions thereof, nor the Authority, are obligated to pay the same or the
interest thereon or other costs incident thereto except from the revenues and
money pledged therefor and that neither the faith and credit nor the taxing
power of the Commonwealth, or any political subdivision thereof, is pledged to
the payment of the principal of such bonds, the redemption premium, if any,
thereon, or the interest thereon or other costs incident thereto.
		All expenses incurred in carrying out the provisions of this chapter shall be
payable solely from the funds of the Authority and no liability or obligation
shall be incurred by the Authority hereunder beyond the extent to which moneys
shall be available to the Authority.
		Bonds issued pursuant to the provisions of this Act shall not constitute
indebtedness within the meaning of any debt limitation or restriction.

HISTORY: 2010, cc. 117, 210.