West Virginia § 8-20-6 Bonds payable solely from revenues; not to constitute municipal indebtedness

West Virginia Statutes

§ 8-20-6 — Bonds payable solely from revenues; not to constitute municipal indebtedness

West Virginia·Ch. 8 MUNICIPAL CORPORATIONS·Art. 20 COMBINED SYSTEMS

Bonds issued under the provisions of this article shall be payable solely from the revenues derived from the combined system, and the bonds may not in any event constitute an indebtedness of such municipality within the meaning of any Constitutional or statutory provision or limitation and it shall be plainly stated on the face of each bond that the same has been issued under the provisions of this article, and that it does not constitute an indebtedness of the municipality within any Constitutional or statutory provision or limitation. The ordinance authorizing the issuance of the bonds may contain such covenants and restrictions upon the issuance of additional revenue bonds thereafter as may be considered necessary or advisable for the assurance of payment of the bonds thereby authorized

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Bonds issued under the provisions of this article shall be payable solely from the revenues derived from the combined system, and the bonds may not in any event constitute an indebtedness of such municipality within the meaning of any Constitutional or statutory provision or limitation and it shall be plainly stated on the face of each bond that the same has been issued under the provisions of this article, and that it does not constitute an indebtedness of the municipality within any Constitutional or statutory provision or limitation. The ordinance authorizing the issuance of the bonds may contain such covenants and restrictions upon the issuance of additional revenue bonds thereafter as may be considered necessary or advisable for the assurance of payment of the bonds thereby authorized and as may thereafter be issued.

West Virginia § 8-20-6 (Bonds payable solely from revenues; not to constitute municipal indebtedness) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.