N.Y. Transportation Law 63 – Liability of state or municipality
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§ 63. Liability of state or municipality. The bonds or other obligations of the Utica transit authority shall not be a debt of the state or a municipality and neither the state nor a municipality shall be liable thereon nor shall the Utica transit authority have power in any way to pledge the credit of the state or a municipality, nor shall the transfer from the Utica transit authority to a municipality or the vesting in a municipality of property theretofore belonging to the Utica transit authority impose upon the municipality any obligations except such as it may expressly assume.
Terms Used In N.Y. Transportation Law 63
- Authority: shall mean a public benefit corporation created by section forty-one of this Article -I of the general municipal law. See N.Y. Transportation Law 40
- Municipality: shall mean a city, town, village or county not wholly contained within a city. See N.Y. Transportation Law 40
- Property: shall mean both real and personal property. See N.Y. Transportation Law 40
- State: shall mean New York State. See N.Y. Transportation Law 40