Virginia § 10.1-305 - Bonds not to constitute debt of Commonwealth
Full text of Virginia Code of Virginia § 10.1-305 — Bonds not to constitute debt of Commonwealth, with citation guidance and answers to common questions.
§ 10.1-305. Bonds not to constitute debt of Commonwealth
Revenue bonds issued under the provisions of this chapter shall not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth, but such bonds shall be payable solely from the funds provided from fees and charges. The bonds shall state on their face that the Commonwealth is not obligated to pay the bonds or the interest on them except from the special fund provided from fees and charges under this chapter, and that the faith and credit of the Commonwealth are not pledged to the payment of the principal or interest of the bonds. The issuance of revenue bonds under the provisions of this chapter shall not obligate the Commonwealth to levy or to pledge any form of taxation for the bonds or to make any appropriation for their payment, other than to appropriate available funds derived as revenue from fees and charges collected under this chapter.
Code 1950, § 10-104; 1988, c. 891.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 10.1-305
What does Code of Virginia § 10.1-305 cover?
Section 10.1-305 ("Bonds not to constitute debt of Commonwealth") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 10.1-305?
A common citation format is "Code of Virginia § 10.1-305" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 10.1-305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.