Skip to main content

Virginia Code Title 15.2. Counties, Cities and Towns § 15.2-5414. Bonds not debts of Commonwealth or member governmental unit

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Bonds issued under the provisions of this chapter shall not be deemed to constitute a pledge of the faith and credit of the Commonwealth or of any governmental unit thereof.  All such bonds shall contain a statement on their face substantially to the effect that neither the faith and credit of the Commonwealth nor the faith and credit of any governmental unit of the Commonwealth is pledged to the payment of the principal of or the interest on such bonds.  The issuance of bonds under the provisions of this chapter shall not directly, indirectly or contingently obligate the Commonwealth or any governmental unit of the Commonwealth to levy any taxes whatever therefor or to make any appropriation for their payment.

Cite this article: FindLaw.com - Virginia Code Title 15.2. Counties, Cities and Towns § 15.2-5414. Bonds not debts of Commonwealth or member governmental unit - last updated January 01, 2020 | https://codes.findlaw.com/va/title-15-2-counties-cities-and-towns/va-code-sect-15-2-5414/


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Thank you. Your response has been sent.

Copied to clipboard