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Current as of January 01, 2024 | Updated by FindLaw Staff
No recourse shall be had for the payment of the refunding bonds, or interest thereon, or any part thereof, against the general fund of any public body, nor shall the credit or taxing power of any public body be deemed to be pledged thereto.
The refunding bonds, and interest thereon, shall not be a debt of the public body, nor a charge, lien or encumbrance, legal or equitable, upon any property of the public body, nor upon any income, receipts or revenues of the public body other than such of the revenues of the enterprise as shall have been pledged to the payment thereof, and every refunding bond shall recite in substance that said bond, including interest thereon, is payable solely from the revenues pledged to the payment thereof and that the public body is under no obligation to pay the same, except from said revenues.
Cite this article: FindLaw.com - West Virginia Code Chapter 13. Public Bonded Indebtedness § 13-2A-9. Payable solely from revenues of enterprise - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-13-public-bonded-indebtedness/wv-code-sect-13-2a-9/
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.
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