Public Authorities Law § 1021-j · Title 1-B. North Country Power Authority
State and municipalities not liable on bonds or notes or other obligations
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 1021-j. State and municipalities not liable on bonds or notes or other obligations. The securities 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 or restrict 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 securities of the authority. Each evidence of indebtedness of the authority, including the securities of the authority, shall contain a clear and explicit statement of the provisions of this section. Nothing in this article shall be deemed to obligate the state or any municipality to make any payments or impose any taxes to satisfy the debt service obligations of the authority.
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/PBA1021-J
- Text hash
- sha256 b03e16ef45b8edf2de171e916c2cfc095e2ad32cec79f647fe3abcaeec49cd1f
- 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
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.