N.Y. Tobacco Settlement Financing Corporation Act § 7: State not liable on bonds or any ancillary bond facility

§ 7. State not liable on bonds or any ancillary bond facility. Neither

any bond nor any ancillary bond facility of the corporation shall

constitute a debt or moral obligation of the state or a state supported

obligation within the meaning of any constitutional or statutory

provision or a pledge of the faith and credit of the state or of the

taxing power of the state, and the state shall not be liable to make any

payments thereon nor shall any bond or any ancillary bond facility be

payable out of any funds or assets other than pledged tobacco revenues

and other assets, if any, sold to the corporation and other funds and

assets of or available to the corporation pledged therefor, and the

bonds and any ancillary bond facility of the corporation shall contain

on the face thereof or other prominent place thereon a statement to the

foregoing effect.