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2006 New York Code - State And Municipalities Not Liable On Bonds And Notes.



 
    §  2441.  State  and municipalities not liable on bonds and notes. The
  bonds, notes, tax lien collateralized securities and  other  obligations
  of  the  agency and its tax lien entity shall not be a debt of the state
  of New York or of any  municipality,  and  neither  the  state  nor  any
  municipality  shall  be liable thereon, nor shall they be payable out of
  any funds other than those of  the  agency  pledged  therefor  and  such
  bonds,  notes,  tax lien collateralized securities and other obligations
  shall contain on the face thereof a statement to such effect.

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