ยง 908. State and county not liable on authority bonds. 1. The state
shall not be liable on the bonds or notes of the authority and such
bonds or notes shall not be a debt of the state, and such bonds and
notes shall contain on the face thereof a statement to such effect.
2. The county shall not be liable on the bonds or notes of the
authority and such bonds or notes shall not be a debt of the county, and
such bonds and notes shall contain on the face thereof a statement to
such effect or a statement describing the county liability thereon, if
any.
Structure New York Laws
Article 4 - Market Authorities
Title 5 - Long Island Market Authority
902 - Long Island Market Authority.
903 - General Purpose and Powers of Authority.
904 - Projects of the Authority.
905 - Transfer of Officers and Employees; Civil Service.
907 - Remedies of Bondholders.
908 - State and County Not Liable on Authority Bonds.
909 - Monies of the Authority.
910 - Bonds Legal Investment for Fiduciaries.
912 - Tax Exemption and Tax Contract by the State.
913 - Actions Against Authority.
914 - Audit and Annual Reports.
915 - Defense and Indemnification.