Statute · New York Public Authorities Law
N.Y. Pub. Auth. Law § 3242 — State and local governments not liable on bonds and notes
N.Y. Pub. Auth. Law § 3242
- Type
- Statute
- Source
- New York Public Authorities Law
- Jurisdiction
- New York
- Current through
- Nov 6, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Pub. Auth. Law § 3242 — State and local governments not liable on bonds and notes is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.