ยง 870. State and municipality not liable on bonds or notes. The bonds
or notes and other obligations of the authority shall not be a debt of
the state or of the municipality, and neither the state nor the
municipality shall be liable thereon, nor shall they be payable out of
any funds other than those of the agency.
Structure New York Laws
Article 18-A - Industrial Development
Title 1 - Agencies, Organization and Powers
852 - Policy and Purposes of Article.
856 - Organization of Industrial Development Agencies.
857 - Video Recordings of Open Meetings and Public Hearings.
858 - Purposes and Powers of the Agency.
858-A - Compensation, Procurement and Investment.
858-B - Equal Employment Opportunities.
859-A - Additional Prerequisites to the Provisions of Financial Assistance.
862 - Restrictions on Funds of the Agency.
868 - Agreements of the Municipality and State.
870 - State and Municipality Not Liable on Bonds or Notes.
872 - Bonds and Notes as Legal Investment.
876 - Tax Contract by the State.
878 - Remedies of Bondholders and Noteholders.
880 - Actions Against the Agency.
882 - Termination of the Agency.
886 - Title Not Affected if in Part Unconstitutional or Ineffective.