§ 10.1-1608. Faith and credit of Commonwealth or political subdivision not pledged
No obligation of the Authority shall constitute a debt, or pledge of the faith and credit, of the Commonwealth or of any political subdivision, but shall be payable solely from the revenue and other funds of the Authority which have been pledged. All such obligations shall contain on the face a statement to the effect that the Commonwealth, political subdivisions, and the Authority shall not be obligated to pay the obligation or the interest except from revenues and other funds of the Authority which have been pledged, and that neither the faith and credit nor the taxing power of the Commonwealth or of any political subdivision is pledged to the payment of the principal of or the interest on such obligations.
(1986, c. 360, § 10-158.6; 1988, c. 891.)
Sections: Previous 10.1-1601 10.1-1602 10.1-1603 10.1-1604 10.1-1605 10.1-1606 10.1-1607 10.1-1608 10.1-1609 10.1-1610 10.1-1611 10.1-1612 10.1-1613 10.1-1614 10.1-1615 NextLast modified: April 2, 2009