3242 - State and local governments not liable on bonds and notes. - New York Statutes

§ 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.