N.Y. Public Authorities Law § 1622-r: Termination of the authority

§ 1622-r. Termination of the authority. Whenever all of the bonds and

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

all its liabilities and duties met or discharged, and the termination

date of its corporate existence as set forth in section sixteen hundred

twenty-two-c of this title shall have been reached, the authority shall

cease to exist and all rights, titles and interests and all obligations

and liabilities thereof vested in or possessed by the authority shall

thereupon vest in and be possessed by the village of Nyack.