N.Y. Public Authorities Law § 3016: State or state-aided municipality not liable on notes and bonds

§ 3016. State or state-aided municipality not liable on notes and

bonds. The notes, bonds or other obligations of a municipal assistance

corporation shall not be a debt of either the state or the municipality

being assisted, and neither the state nor such municipality shall be

liable thereon, nor shall they be payable out of any funds other than

those of such corporation; and such notes and bonds shall contain on the

face thereof a statement to such effect.