ยง 658. 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 of New York or of the city of New York, 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 12 - New York City Housing Development Corporation
651 - Statement of Legislative Findings and Purpose.
653 - New York City Housing Development Corporation.
654 - Powers of the Corporation.
654-A - Subsidiaries; How Created.
654-B - Housing Assistance Corporation.
654-C - Housing New York Corporation.
654-D - Residential Mortgage Insurance Corporation.
655 - Notes and Bonds of the Corporation.
656 - Reserve Funds and Appropriations.
657 - Agreement With the State.
658 - State and City Not Liable on Notes and Bonds.
659 - City's Right to Require Redemption of Bonds.
660 - Remedies of Noteholders and Bondholders.
661 - Assistance to the Corporation.
662 - Notes and Bonds as Legal Investments.
663 - Exemption From Taxation.
664 - Employees of the Corporation.
665 - Assistance by Department of Housing Preservation and Development.
666 - Moneys of the Corporation.