N.Y. Public Authorities Law Section 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: Section 1020-L — State and municipalities not liable on bonds or notes, https://www.­nysenate.­gov/legislation/laws/PBA/1020-L (updated Sep. 22, 2014; accessed Jun. 8, 2024).

1020
Short title
1020‑A
Declaration of legislative findings and declarations
1020‑AA
Conflicts of interest
1020‑B
Definitions
1020‑BB
Exculpation
1020‑C
Long Island power authority
1020‑CC
Authority subject to certain provisions contained in the state finance law, the public service law, the social services law and the gener...
1020‑D
Board of trustees
1020‑DD
Authority not to seek nor any subsidiary of the authority, to apply for or accept preference hydroelectricity
1020‑E
Officers and employees
1020‑EE
Nine Mile Point II
1020‑F
General powers of the authority
1020‑FF
Rates charged to veterans’ organizations
1020‑G
Powers to provide and maintain generating, transmission and resource recovery waste to energy facilities
1020‑GG
Energy plan
1020‑H
Acquisition of property, including the exercise of the power of eminent domain
1020‑HH
Green jobs-green New York on-bill recovery
1020‑I
Subsidiaries
1020‑II
Public notice before approval of utility transmission facilities
1020‑J
Notes of the authority
1020‑JJ
Energy storage deployment policy
1020‑K
Bonds of the authority
1020‑KK
Semi-annual expenditure and lobbying report
1020‑L
State and municipalities not liable on bonds or notes
1020‑LL
Pilot thermal energy network projects
1020‑M
Legal investments
1020‑MM
Prioritization of emergency services
1020‑N
Deposit and investment of moneys of the authority
1020‑O
Agreement of the state
1020‑P
Exemption from taxation
1020‑Q
Payments in lieu of taxes
1020‑R
Repayment of state appropriations
1020‑S
Public service law generally not applicable to authority
1020‑T
Authority not to construct or operate a nuclear powered facility in the service area
1020‑U
Employees of the authority not subject to the public employees’ fair employment act
1020‑V
Equal employment opportunity and minority and women owned business enterprise programs
1020‑W
Audit and annual reports
1020‑X
Authority subject to open meetings law
1020‑XX
Liberal interpretation
1020‑Y
Court proceedings
1020‑YY
Severability
1020‑Z
Corporate existence
1020‑ZZ
Inconsistent provisions of other laws superseded

Accessed:
Jun. 8, 2024

Last modified:
Sep. 22, 2014

§ 1020-L’s source at nysenate​.gov

Link Style