2015 New Jersey Revised Statutes
Title 27 - HIGHWAYS
Section 27:25A-17 - Members of authority not liable on bonds, notes

NJ Rev Stat § 27:25A-17 (2015) What's This?

27:25A-17. Members of authority not liable on bonds, notes
17. Neither the members of the authority nor any person executing bonds or notes issued pursuant to this act shall be liable personally on the bonds or notes by reason of the issuance thereof. Bonds and notes issued by the authority pursuant to this act shall not be in any way a debt or liability of the State or any subdivision thereof and shall not create or constitute any indebtedness, liability or obligation of the State or any subdivision, except the authority and any county which in accordance with this act shall have guaranteed payment of the principal of and interest on the bonds or notes.

L.1991,c.252,s.17.


Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.