ยง 2542. State and city not liable on notes and bonds. The notes, bonds
or other obligations of the corporation shall not be a debt of either
the state or the city, and neither the state nor the city shall be
liable thereon, nor shall they be payable out of any funds other than
those of the corporation; and such notes and bonds shall contain on the
face thereof a statement to such effect.
Structure New York Laws
Article 8 - Miscellaneous Authorities
Title 26 - New York City Stabilization Reserve Corporation
2532 - New York City Stabilization Reserve Corporation.
2533 - Legislative Findings and Declaration of Purposes.
2534 - Administration of the Corporation.
2535 - General Powers of the Corporation.
2536 - Notes and Bonds of the Corporation.
2537 - Reserve Fund and Appropriations.
2539 - Resources of the Corporation.
2540 - Payments to the Corporation.
2541 - Agreement With the State.
2542 - State and City Not Liable on Notes and Bonds.
2543 - Remedies of Noteholders and Bondholders.
2544 - Notes and Bonds as Legal Investments.
2545 - Exemption From Taxation.
2546 - Employees of the Corporation.
2547 - Actions Against the Corporation.
2548 - Assistance to the Corporation.
2549 - Corporation Counsel to Be Attorney.
2550 - Termination of Authority and Existence.
2551 - Bonds or Notes Legal Investments for Public Authorities.