                                 CODE OF VIRGINIA

BONDS NOT DEBTS OF COMMONWEALTH OR MEMBER GOVERNMENTAL UNIT (§ 15.2-5414)

Bonds issued under the provisions of this chapter shall not be deemed to
constitute a pledge of the faith and credit of the Commonwealth or of any
governmental unit thereof. All such bonds shall contain a statement on their
face substantially to the effect that neither the faith and credit of the
Commonwealth nor the faith and credit of any governmental unit of the
Commonwealth is pledged to the payment of the principal of or the interest on
such bonds. The issuance of bonds under the provisions of this chapter shall not
directly, indirectly or contingently obligate the Commonwealth or any
governmental unit of the Commonwealth to levy any taxes whatever therefor or to
make any appropriation for their payment.

HISTORY: 1979, c. 416, § 15.1-1617; 1997, c. 587.