Legislation

Search OpenLegislation Statutes

The Laws of New York
Consolidated Laws of New York
CHAPTER 43-A
Public Authorities
ARTICLE 10-B
Title
TITLE 4
New York Local Government Assistance Corporation
previous
SECTION 3241-A
Limitation on issuance of tax and revenue anticipation notes by the state
up
TITLE 4
New York Local Government Assistance Corporation
next
SECTION 3243
Remedies of bondholders and noteholders
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 3242
State and local governments not liable on bonds and notes
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 10-B, TITLE 4
§ 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.