No provisions of this article shall be construed to authorize the commissioner at any time or in any manner to pledge the credit or taxing power of the state, nor shall any of the obligations or debts created by the commissioner under the authority herein granted be deemed to be obligations of the state.
The bonds and notes authorized hereby shall contain on their face a statement to the effect that: (1) Neither the State of West Virginia nor any agency, political corporation or political subdivision of the State of West Virginia is obligated to pay the principal of or interest on the bonds or notes except as provided in this article; and (2) neither the faith and credit nor the taxing power of the State of West Virginia or any agency, political corporation or political subdivision of the State of West Virginia is pledged to the payment of the principal of or interest on the bonds or notes except as provided by this article.
Structure West Virginia Code
Chapter 21A. Unemployment Compensation
Article 8A. Employment Security Debt Funds
§21A-8A-3. Issuance of Revenue Bonds or Notes
§21A-8A-4. Trust Agreement for Holders of Bonds or Notes
§21A-8A-5. Municipal Bond Commission for Payment of Bonds or Notes
§21A-8A-6. Credit of State Not Pledged
§21A-8A-7. Bonds or Notes Exempt From Taxation
§21A-8A-8. Assessments; Dedication of Assessments; Commissioner's Authority to Adjust Assessments
§21A-8A-10. Authority of the Board of Investments
§21A-8A-11. Requirements of Loan
§21A-8A-12. Limitations on Loan Authority