Code of Virginia § 33.2-2209. Bonds not to constitute a debt or pledge of taxing power.
143 words·~1 min read·
/va/title-33-2/chapter-22/33-2-2209A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of the District or of the Commonwealth or of any county, city, district, or political subdivision thereof, or a pledge of the faith and credit of the District or of the Commonwealth or of any county, city, district, or political subdivision thereof, but such bonds shall be payable solely from the funds herein provided therefor from tolls and other revenues. The issuance of revenue bonds under the provisions of this chapter shall not directly or indirectly or contingently obligate the District, the Commonwealth, or any county, city, district, or political subdivision thereof to levy or to pledge any form of taxation whatever therefor.
All such revenue bonds shall contain a statement on their face substantially to the foregoing effect.
1956, c. 714; 2014, c. 805 .