Legislation
SECTION 1226-N
State, water board or municipality, other than the authority, not liable on authority bonds
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 5, TITLE 10
§ 1226-n. State, water board or municipality, other than the
authority, not liable on authority bonds. Neither the state, the water
board nor any municipality, other than the authority, shall be liable on
the bonds of the authority and such bonds shall not be a debt of either
the state, the water board or any municipality, and each such bond shall
contain, on the face thereof, a statement to such effect.
authority, not liable on authority bonds. Neither the state, the water
board nor any municipality, other than the authority, shall be liable on
the bonds of the authority and such bonds shall not be a debt of either
the state, the water board or any municipality, and each such bond shall
contain, on the face thereof, a statement to such effect.