15.2-5349 - Bond indebtedness. - Virginia Statutes

§ 15.2-5349. Bond indebtedness.

The bonds and other obligations of the authority, and such bonds andobligations shall so state on their face, shall not be a debt of any city inwhich the authority is located or of the Commonwealth, and neither theCommonwealth nor any such city shall be liable thereon. In no event shallthey be payable out of any funds or properties other than those of theauthority. The bonds shall not constitute an indebtedness within the meaningof any constitutional or statutory debt limitation of the laws of theCommonwealth.

(Code 1950, § 32-264; 1979, c. 719, § 15.1-1584; 1997, c. 587.)