13:17-26. Bonds and notes not deemed debt or liability of state or political subdivision
119 words·~1 min read·
/nj/title-13/chapter-17/13-17-26A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided by or pursuant to Section II of Article VIII of the State Constitution and approved by a majority of the legally constituted voters of the State voting thereon or except when any county or municipality shall have guaranteed principal or interest thereon, bonds and notes issued by the commission under the provisions of this act shall not be deemed to constitute a debt or liability of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any political subdivision except the commission and all such bonds or notes shall contain on the face thereof a statement to that effect.
L.1968, c. 404, s. 25.