Section 8Part 2 — Power To Raise Loans
Nature, form, etc., of securities
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8. (1) Securities shall be direct, unconditional and general obligations of the Islands, and the full faith and credit of the Islands shall be unconditionally pledged for the payment of the principal of and interest on securities and any premium, charge, assessment or other expense which may be incurred in connection with the issue or redemption thereof and for the performance of all the covenants and obligations of the Islands thereunder or with respect thereto.
The principal of and the interest on securities, any other payments to be made with respect to such securities and any sinking fund payment to be made under section 24 are hereby charged on and shall be payable out of the revenue.