N.Y. Public Authorities Law § 1179: Transfer to authority of city sewer system

§ 1179. Transfer to authority of city sewer system. Upon the filing by

the authority with the common council of the city and the secretary of

state of the state of New York, of its certificate signed by its

chairman or vice-chairman stating that the project has been completed,

thereupon, and by virtue of this title, the existing sewer system,

together with all contracts, books, maps, plans, papers and records of

whatever description pertaining to subjects or matters relating to the

design, construction, operation and affairs of the existing sewer system

shall be assigned, transferred and dedicated to the use of and be in the

possession of and under the jurisdiction, control and supervision of the

authority and the authority is empowered to take possession thereof for

its uses and purposes. The authority shall thereafter have complete

jurisdiction, control, possession and supervision of the existing sewer

system and of all the facilities in the city for the disposal of sewage

and storm water, and shall continue to exercise such power for a period

of five years and so long thereafter as any of the bonds and liabilities

of the authority shall remain unpaid or shall not have otherwise been

discharged. When all of the bonds and liabilities of the authority shall

have been paid in full or shall have otherwise been discharged and the

authority shall have ceased to exist, the powers, jurisdiction and duty

of the board shall cease and the property and assets acquired or held by

it shall thereafter become the property of, and shall be under the

jurisdiction, control, possession and supervision of, the city.