Section 3016. State or state-aided municipality not liable on notes and bonds

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The notes, bonds or other obligations of a  municipal  assistance  corporation  shall not be a debt of either the state or the municipality
  being assisted, and neither the state nor  such  municipality  shall  be
  liable  thereon,  nor  shall they be payable out of any funds other than
  those of such corporation; and such notes and bonds shall contain on the
  face thereof a statement to such effect.

                    
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