N.Y. Public Authorities Law § 2610: Review of and recommendation on continuation of the authority

§ 2610. Review of and recommendation on continuation of the authority.

1. The authority and its corporate existence shall continue until

terminated by law, provided, however, that no such law shall take effect

so long as the authority shall have any outstanding obligations, unless

adequate provision has been made for the satisfaction thereof.

2. The authority shall submit on August fifteenth, nineteen hundred

ninety, a report to the governor, the chairman of the senate finance

committee and the chairman of the assembly ways and means committee and

the park district detailing the accomplishments of the authority since

its creation and making recommendations concerning its continuation.

3. The comptroller may conduct periodic financial audits of the

authority and report on August fifteenth, nineteen hundred ninety, to

the governor, the chairman of the senate finance committee and the

chairman of the assembly ways and means committee and the park district

on the appropriateness of the financial practices of the authority.

4. The director of the budget is hereby directed to conduct a survey

of the management and operating practices of the authority and report on

August fifteenth, nineteen hundred ninety, to the governor, the chairman

of the senate finance committee and the chairman of the assembly ways

and means committee and the park district on the appropriateness of the

management and operating practices of the authority. The director of the

budget shall include in such report his recommendations of whether the

authority shall be terminated or whether it shall be changed in any

manner, and if the director of the budget shall recommend that the

authority be terminated, he shall recommend what functions shall be

eliminated and what functions shall be continued by another authority or

agency.

5. In the event of termination of the existence of the authority, all

of its rights and properties shall pass to and be vested in the state,

except the personal property and any replacements and/or substitutions

therefor, used solely in connection with a participating olympic

facility which is administered, owned or supervised by the park district

shall pass to and be vested in the park district. All property which

passes to the state or the park district on termination of the authority

shall be accepted by the state or the park district, as the case may be,

in its condition at the time of such termination.