N.Y. Public Authorities Law § 2828: Termination of public authorities

§ 2828. Termination of public authorities. Every authority or

commission hereafter created by this chapter shall terminate at the end

of five years from the date of its creation if at the end of such period

it has outstanding no liabilities; provided, however, that any

appropriation made to such authority or commission by the state of New

York or by any political subdivision thereof shall not be deemed a

liability for the purposes of this section.