                                 CODE OF VIRGINIA

CREDIT OF COMMONWEALTH AND POLITICAL SUBDIVISIONS NOT PLEDGED (§ 15.2-6640)

Bonds issued pursuant to the provisions of this act shall not be deemed to
constitute a debt of the Commonwealth, 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 contain on the face
thereof a statement to the effect that neither the Commonwealth, nor any
political subdivision thereof, nor the Authority, shall be 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 or the interest thereon or
other costs incident thereto.
		All expenses incurred in carrying out the provisions of this act 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 an
indebtedness within the meaning of any debt limitation or restriction.

HISTORY: 2005, c. 842.