N.Y. Public Authorities Law § 1570-t: Termination of the authority

§ 1570-t. Termination of the authority. Whenever all of the bonds

issued by the authority shall have been redeemed or cancelled, the

authority shall cease to exist and all rights, titles, and interest and

all obligations and liabilities thereof vested in or possessed by the

authority shall thereupon vest in and be possessed by the village.