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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>348804</law_id><section_number>15.2-5431.20</section_number><catch_line>Bonds not debts of Commonwealth or participating political subdivision</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="46" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="4" identifier="IV">Other Governmental Entities</unit><unit label="chapter" level="3" order_by="14" identifier="54.1">Virginia Wireless Service Authorities Act</unit></structure><text>
						<section><p>Revenue <span class="dictionary">bonds</span> issued under the provisions of this chapter shall not constitute a pledge of the faith and credit of the Commonwealth or of any political subdivision or <span class="dictionary">locality</span>. All <span class="dictionary">bonds</span> 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 political subdivision are pledged to the payment of the principal of or the interest on the <span class="dictionary">bonds</span>. The issuance of revenue <span class="dictionary">bonds</span> under the provisions of this chapter shall not directly or indirectly or contingently obligate the Commonwealth or any political subdivision to <span class="dictionary">levy</span> any taxes or to make any appropriation for their payment except from the funds pledged under the provisions of this chapter.</p></section></text><history>2003, c. 643.</history><metadata></metadata></law>
