N.Y. Public Authorities Law § 1021-j: State and municipalities not liable on bonds or notes or other obligations

§ 1021-j. State and municipalities not liable on bonds or notes or

other obligations. The securities of the authority shall not be a debt

of the state or of any municipality, and neither the state nor any

municipality shall be liable thereon. The authority shall not have the

power to pledge or restrict the credit, the revenues or the taxing power

of the state or of any municipality, and neither the credit, the

revenues nor the taxing power of the state or of any municipality shall

be or shall be deemed to be pledged to the payment of any securities of

the authority. Each evidence of indebtedness of the authority, including

the securities of the authority, shall contain a clear and explicit

statement of the provisions of this section. Nothing in this article

shall be deemed to obligate the state or any municipality to make any

payments or impose any taxes to satisfy the debt service obligations of

the authority.