Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or the faith and credit of any other political subdivision of the Commonwealth, for the payment of any bonds. No bonds issued pursuant to § 15.2-5943 shall pledge the full faith and credit of the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth, and the bonds shall so state on their face. Bondholders shall have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.
2020, cc. 538, 539.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 59.3 - Hampton Roads Regional Arena Authority
§ 15.2-5936. Creation of Authority
§ 15.2-5937. Members of Authority; chairman; terms
§ 15.2-5938. Quorum; actions of Authority; meetings
§ 15.2-5939. Executive Director appointment; duties
§ 15.2-5940. Participation in the Authority by a Hampton Roads locality
§ 15.2-5942. Public hearings; notice; reports
§ 15.2-5944. Restrictions related to sports teams
§ 15.2-5945. Facility Financing Fund; use
§ 15.2-5946. Entitlement to tax revenues derived from the operation of a Facility
§ 15.2-5947. Sharing of revenue among participating localities
§ 15.2-5948. Tax revenues of the Commonwealth or any other political subdivision not pledged
§ 15.2-5949. Expiration of entitlement to certain sales tax revenues