§ 63. Liability of state or municipality. The bonds or other
obligations of the Utica transit authority shall not be a debt of the
state or a municipality and neither the state nor a municipality shall
be liable thereon nor shall the Utica transit authority have power in
any way to pledge the credit of the state or a municipality, nor shall
the transfer from the Utica transit authority to a municipality or the
vesting in a municipality of property theretofore belonging to the Utica
transit authority impose upon the municipality any obligations except
such as it may expressly assume.