Legislation
SECTION 1947
State or municipality not liable on authority bonds
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 10-B
§ 1947. State or municipality not liable on authority bonds. Neither
the state nor any municipality shall be liable on the bonds of the
authority and such bonds shall not be a debt of either the state, or any
municipality, and each such bond shall contain, on the face thereof, a
statement to such effect.
the state nor any municipality shall be liable on the bonds of the
authority and such bonds shall not be a debt of either the state, or any
municipality, and each such bond shall contain, on the face thereof, a
statement to such effect.