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2012 New York Consolidated Laws
PBA - Public Authorities
Article 8 - MISCELLANEOUS AUTHORITIES
Title 26 - (2530 - 2551) NEW YORK CITY STABILIZATION RESERVE CORPORATION
2542 - State and city not liable on notes and bonds.


NY Pub Auth L § 2542 (2012) What's This?
 
    § 2542. State and city not liable on notes and bonds. The notes, bonds
  or  other  obligations  of the corporation shall not be a debt of either
  the state or the city, and neither the  state  nor  the  city  shall  be
  liable  thereon,  nor  shall they be payable out of any funds other than
  those of the corporation; and such notes and bonds shall contain on  the
  face thereof a statement to such effect.

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