N.Y. Public Authorities Law § 1967: Termination of the authority

§ 1967. Termination of the authority. Whenever all of the bonds issued

by the authority shall have been redeemed or cancelled, and all

straight-lease transactions have been terminated, 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 city of Troy.