Statutes > New York Statutes > PBA - Public Authorities > Article 8 - MISCELLANEOUS AUTHORITIES > Title 11 - (1950 - 1969) TROY INDUSTRIAL DEVELOPMENT AUTHORITY > 1961 - State and city not liable on bonds.

1961 - State and city not liable on bonds.

§  1961.  State  and  city  not  liable  on bonds. The bonds and other  obligations of the authority shall not be a debt of the state or of  the  city,  and  neither  the state nor the city shall be liable thereon, nor  shall they be  payable  out  of  any  funds  other  than  those  of  the  authority.