State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-68a > 40-68a-16

40:68A-16. Personal liability on bonds; not debt or liability of state or local unit
Neither the members of the port authority nor any person executing bonds issued pursuant to this act shall be liable personally on the bonds by reason of the issuance thereof. Bonds or other obligations issued pursuant to this act shall not be in any way a debt or liability of the State, and bonds or other obligations issued by a port authority pursuant to this act shall not be in any way a debt or liability of the State or of any local unit or municipality.

L.1948, c. 349, p. 1396, s. 16, eff. Sept. 1, 1948.

State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-68a > 40-68a-16

40:68A-16. Personal liability on bonds; not debt or liability of state or local unit
Neither the members of the port authority nor any person executing bonds issued pursuant to this act shall be liable personally on the bonds by reason of the issuance thereof. Bonds or other obligations issued pursuant to this act shall not be in any way a debt or liability of the State, and bonds or other obligations issued by a port authority pursuant to this act shall not be in any way a debt or liability of the State or of any local unit or municipality.

L.1948, c. 349, p. 1396, s. 16, eff. Sept. 1, 1948.