Public Authorities Law § 1020-l · Title 1-A. Long Island Power Authority
State and municipalities not liable on bonds or notes
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
* § 1020-l. State and municipalities not liable on bonds or notes. The bonds, notes and other obligations of the authority shall not be a debt of the state or of any municipality, and neither the state nor any municipality shall be liable thereon. The authority shall not have the power to pledge the credit, the revenues or the taxing power of the state or of any municipality, and neither the credit, the revenues nor the taxing power of the state or of any municipality shall be, or shall be deemed to be, pledged to the payment of any bonds, notes or other obligations of the authority. Each evidence of indebtedness of the authority, including the bonds and notes of the authority, shall contain a clear and explicit statement of the provisions of this section.
* NB There are 2 § 1020-l's
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA1020-L
- Text hash
- sha256 18f84ba04b048616a059afbf33a44b54cbae736a4ccbe19c8850011c3f87e276
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
- The Senate's note "There are 2 § 1020-l's": the Legislature enacted more than one unit under that number; each is printed.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.