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.
Structure West Virginia Code
Chapter 13. Public Bonded Indebtedness
Article 2A. Revenue Bond Refinancing
§13-2A-3. Purpose of Refunding Bonds
§13-2A-4. Issuance Authorized by Resolution of Governing Body
§13-2A-5. Form of Bonds; Interest Rates; Negotiability
§13-2A-7. Sale or Exchange; Deposit and Investment of Proceeds
§13-2A-8. Security for Payment; Prior Issues Not Impaired
§13-2A-9. Payable Solely From Revenues of Enterprise
§13-2A-10. Exemption From Taxation
§13-2A-12. Duties of Public Body and Officers as to Bonds and Rights of Bondholders
§13-2A-13. Provisions in Resolution Authorizing Bonds
§13-2A-14. Receivership Upon Default; Termination
§13-2A-15. Suits by Bondholders
§13-2A-16. Article Complete Authority for Refunding Bonds; Liberal Construction