PART VIII. INDEBTEDNESS; EXEMPTION FROM TAXATION.
§8-27-19. Indebtedness of authorities.
Each authority may issue bonds, borrow money and incur any
proper indebtedness and issue any other obligations as authorized
by law or provided in this article. No such indebtedness or
obligation incurred by any authority shall give any right against
any member of the governing body of any participating government or
any member of the board of any authority. Any obligation or
indebtedness of any nature of any authority shall never constitute
an obligation or indebtedness of any participating government or
the governing body of any participating government, within the
meaning of any constitutional provision or statutory limitation,
and shall never constitute or give rise to a pecuniary liability of
any participating government or the governing body of any
participating government, or be a charge against the general credit
or taxing power of any participating government or the governing
body of any participating government, and such fact shall be
plainly stated on the face of any bonds issued by any authority.
The rights of creditors of any authority shall be solely against
the authority as a corporate body and shall be satisfied only out
of revenues, moneys or property received or held by it in its
Note: WV Code updated with legislation passed through the 2015 Regular Session
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