New Jersey § 40:37A-66 Liability on bonds

New Jersey Statutes

§ 40:37A-66 — Liability on bonds

New Jersey § 40:37A-66

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:37A-66 (Liability on bonds) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40:37A-66 (2026).

Text

Neither the members of an 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 by an authority pursuant to this act shall not be in any way a debt or liability of the State or any subdivision thereof and shall not create or constitute any indebtedness, liability or obligation of the State or any such subdivision, except the authority and any county which in accordance with this act shall have guaranteed payment of the principal of and interest on such bonds. L.1960, c. 183, p. 746, s. 23, eff. Jan. 18, 1961.

Free access — add to your briefcase to read the full text and ask questions with AI

Neither the members of an 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 by an authority pursuant to this act shall not be in any way a debt or liability of the State or any subdivision thereof and shall not create or constitute any indebtedness, liability or obligation of the State or any such subdivision, except the authority and any county which in accordance with this act shall have guaranteed payment of the principal of and interest on such bonds. L.1960, c. 183, p. 746, s. 23, eff. Jan. 18, 1961.