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2012 New York Consolidated Laws
PBA - Public Authorities
Article 10-B -
Title 4 - (3231 - 3249) NEW YORK LOCAL GOVERNMENT ASSISTANCE COPORATION
3242 - State and local governments not liable on bonds and notes.


NY Pub Auth L § 3242 (2012) What's This?
 
    §  3242.  State  and  local governments not liable on bonds and notes.
  The notes, bonds or other obligations of the corporation shall not be  a
  debt  of the state or of any local government, and neither the state nor
  any local government shall be liable thereon, nor shall they be  payable
  out of any funds other than those of the corporation; and such bonds and
  notes shall contain on the face thereof a statement to such effect.

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