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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>348968</law_id><section_number>15.2-6022</section_number><catch_line>Bonds not a debt of the 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="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="24" identifier="60.1">Southwest Regional Recreation Authority</unit></structure><text>
						<section><p>Revenue <span class="dictionary">bonds</span> and revenue refunding <span class="dictionary">bonds</span> of the <span class="dictionary">Authority</span> issued under the provisions of this chapter do not constitute a debt of the Commonwealth or of any political subdivision of the Commonwealth or a pledge of the faith and credit of the Commonwealth or of any political subdivision, but the <span class="dictionary">bonds</span> shall be payable solely from the funds provided for in this chapter from revenues resulting from the issuance of <span class="dictionary">bonds</span>. All <span class="dictionary">bonds</span> shall contain on the face of the <span class="dictionary">bond</span> a statement to the effect that neither the Commonwealth nor any political subdivision of the Commonwealth is obligated to pay the <span class="dictionary">bond</span> or the interest on the <span class="dictionary">bond</span> except from revenues of the recreational project or projects for which they are issued and that neither the faith or credit nor the taxing power of the Commonwealth or any political subdivision of the Commonwealth is pledged to the payment of the principal or the interest on the <span class="dictionary">bonds</span>.</p></section></text><history>2008, cc. 645, 648.</history><metadata></metadata></law>
