                                 CODE OF VIRGINIA

TAX REVENUES OF THE COMMONWEALTH OR ANY OTHER POLITICAL SUBDIVISION NOT PLEDGED
(§ 15.2-5948)

Nothing in this chapter shall be construed as authorizing the pledging of the
faith and credit of the Commonwealth, or the faith and credit of any other
political subdivision of the Commonwealth, for the payment of any bonds. No
bonds issued pursuant to § 15.2-5943 shall pledge the full faith and credit of
the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth,
and the bonds shall so state on their face. Bondholders shall have no recourse
whatsoever against the Commonwealth for the payment of principal, interest, or
redemption premium, if any, on such bonds.

HISTORY: 2020, cc. 538, 539.