40:14A-19 - Liability on bonds; exemptions - New Jersey Statutes

40:14A-19.  Liability on bonds;  exemptions
    Neither the members of the sewerage authority nor any person executing bonds  issued pursuant to this act shall be liable personally on the bonds by reason  of the issuance thereof.  Bonds or other obligations issued pursuant to this  act shall not be in any way a debt or liability of the State, and bonds or  other obligations issued by a sewerage authority pursuant to this act shall not  be in any way a debt or liability of the State or of any local unit or of any  county or municipality and shall not create or constitute any indebtedness,  liability or obligation of the State or of any such local unit, county or  municipality, either legal, moral or otherwise, and nothing in this act  contained shall be construed to authorize any sewerage authority to incur any  indebtedness on behalf of or in any way to obligate the State or any county or  municipality.

     L.1946, c. 138, p. 662, s. 19, eff. April 23, 1946.