26:2I-9 - Bonds not liability of state or political subdivision - New Jersey Statutes

26:2I-9.  Bonds not liability of state or political subdivision
    Bonds issued under the provisions of this act shall not be deemed to constitute a debt or liability of the State or of any political subdivision thereof other than the authority, nor a pledge of the faith and credit of the State or of any such political subdivision, other than the authority, but shall  be payable solely from the funds herein provided.  All such bonds shall contain  on the face thereof a statement to the effect that neither the State of New  Jersey nor the authority shall be obligated to pay the same or the interest  thereon except from revenues or other moneys of the authority and that neither  the faith and credit nor the taxing power of the State of New Jersey or of any  political subdivision thereof other than the authority is pledged to the  payment of the principal of or the interest on such bonds. The issuance of  bonds under the provisions of this act shall not directly or indirectly or  contingently obligate the State or any political subdivision thereof to levy or  to pledge any form of taxation whatever therefor.

     L.1972, c. 29, s. 9.