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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>345946</law_id><section_number>10.1-305</section_number><catch_line>Bonds not to constitute debt of Commonwealth</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="38" identifier="10.1">Conservation</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Activities Administered by the Department of Conservation and Recreation</unit><unit label="chapter" level="3" order_by="4" identifier="3">State Park Development Revenue Bond Act</unit></structure><text>
						<section><p>Revenue <span class="dictionary">bonds</span> issued under the provisions of this chapter shall not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth, but such <span class="dictionary">bonds</span> shall be payable solely from the funds provided from fees and charges. The <span class="dictionary">bonds</span> shall state on their face that the Commonwealth is not obligated to pay the <span class="dictionary">bonds</span> or the interest on them except from the special fund provided from fees and charges under this chapter, and that the faith and credit of the Commonwealth are not pledged to the payment of the principal or interest of the <span class="dictionary">bonds</span>. The issuance of revenue <span class="dictionary">bonds</span> under the provisions of this chapter shall not obligate the Commonwealth to <span class="dictionary">levy</span> or to pledge any form of taxation for the <span class="dictionary">bonds</span> or to make any appropriation for their payment, other than to appropriate available funds derived as revenue from fees and charges collected under this chapter.</p></section></text><history>Code 1950, &#xA7; 10-104; 1988, c. 891.</history><metadata></metadata></law>
