                                 CODE OF VIRGINIA

BONDS NOT DEBT OR PLEDGE OF CREDIT OF COMMONWEALTH OR POLITICAL SUBDIVISION;
PAYMENT OF EXPENSES (§ 62.1-147)

Bonds and refunding bonds issued under the provisions of this chapter shall not
be deemed to constitute a debt of the Commonwealth or of any political
subdivision thereof or a pledge of the faith and credit of the Commonwealth or
of any such political subdivision, but shall be payable solely from the funds
provided therefor from revenues. All such bonds shall contain on the face
thereof a statement to the effect that neither the Commonwealth nor the
Authority shall be obligated to pay the same or the interest thereon except from
revenues of the port facility and that neither the faith and credit nor the
taxing power of the Commonwealth or of any political subdivision thereof is
pledged to the payment of the principal of or the interest on such bonds.
		All expenses incurred in carrying out the provisions of this chapter shall be
payable solely from funds provided under the authority of this chapter and no
liability or obligation shall be incurred by the Authority hereunder beyond the
extent to which moneys shall have been provided under the provisions of this
chapter.

HISTORY: Code 1950, § 62-106.19; 1954, c. 667; 1968, c. 659; 1981, c. 590;
1993, c. 656.