{"data":{"id":"us-ny/n.y.-public-authorities-law-3242","jurisdiction":"us-ny","citation":"N.Y. Public Authorities Law § 3242","heading":"State and local governments not liable on bonds and notes","body":"§ 3242. State and local governments not liable on bonds and notes.\nThe notes, bonds or other obligations of the corporation shall not be a\ndebt of the state or of any local government, and neither the state nor\nany local government shall be liable thereon, nor shall they be payable\nout of any funds other than those of the corporation; and such bonds and\nnotes shall contain on the face thereof a statement to such effect.","path":["Public Authorities Law","Article 10-B. Title","Title 4. New York Local Government Assistance Corporation"],"source_url":"https://legislation.nysenate.gov/api/3/laws/PBA/3242","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"7f6abc7a28c1bf0335c7ab82a8be4d100718733489c864be2fd2db8b19622cef","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-public-authorities-law-3241-a","next":"us-ny/n.y.-public-authorities-law-3243"},"notice":"GroundRules: Original legal text. Not legal advice."}