                                 CODE OF VIRGINIA

LIABILITY ON BONDS (§ 23.1-2419)

No member of the board; officer, employee, or agent of the Authority; or person
executing bonds of the Authority is liable personally on the bonds by reason of
issuing or executing such bonds. Bonds of the Authority are not a debt of the
Commonwealth or any political subdivision of the Commonwealth other than the
Authority and shall so state on their face. Neither the Commonwealth nor any
political subdivision of the Commonwealth other than the Authority is liable for
payment of bonds of the Authority, nor shall such bonds be payable out of any
funds or properties of the Commonwealth or any political subdivision of the
Commonwealth other than those of the Authority, except as permitted by §
23.1-2418. Bonds of the Authority are issued for an essential public and
governmental purpose.

HISTORY: 1996, cc. 905, 1046, § 23-50.16:26; 2016, c. 588.