§ 7.12. Revenue bonds.

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In addition to the authority to issue bonds otherwise provided in this chapter, and in addition to the authority of Article VII, Section 10 of the Constitution of Virginia, the council may, in the manner provided for the issuance of other bonds and subject to the limitations of this chapter, except that the faith and credit of the city need not be pledged to their payment and except as hereinafter provided, authorize the issuance of revenue bonds to be secured by mortgage upon the property of the city devoted to the use of a revenue-producing utility, project or enterprise and the interest and principal of which may be paid exclusively from the revenues of such utility, project or enterprise; provided that such issue need not be limited to a term of thirty (30) years.

(Acts 1973, ch. 292)

(Acts 1973, ch. 292)

                    
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