                                 CODE OF VIRGINIA

BONDS NOT DEBTS OF COMMONWEALTH OR PARTICIPATING POLITICAL SUBDIVISION (§
15.2-5431.20)

Revenue bonds issued under the provisions of this chapter shall not constitute a
pledge of the faith and credit of the Commonwealth or of any political
subdivision or locality. All 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 political subdivision are pledged
to the payment of the principal of or the interest on the bonds. The issuance of
revenue bonds under the provisions of this chapter shall not directly or
indirectly or contingently obligate the Commonwealth or any political
subdivision to levy any taxes or to make any appropriation for their payment
except from the funds pledged under the provisions of this chapter.

HISTORY: 2003, c. 643.