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The Laws of New York
Consolidated Laws of New York
CHAPTER 24
General Municipal
ARTICLE 18-A
Industrial Development
TITLE 1
Agencies, Organization and Powers
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SECTION 868
Agreements of the municipality and state
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Agencies, Organization and Powers
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SECTION 872
Bonds and notes as legal investment
This entry was published on 2014-09-22
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SECTION 870
State and municipality not liable on bonds or notes
General Municipal (GMU) CHAPTER 24, ARTICLE 18-A, TITLE 1
§ 870. State and municipality not liable on bonds or notes. The bonds
or notes and other obligations of the authority shall not be a debt of
the state or of the municipality, and neither the state nor the
municipality shall be liable thereon, nor shall they be payable out of
any funds other than those of the agency.