N.Y. Transportation Law § 67: Dissolution

§ 67. Dissolution. The Utica transit authority may apply to the

supreme court in any county within the Utica transit authority's

jurisdiction for an order dissolving such authority. The court thereupon

shall hold a hearing in open court after such notice of hearing as the

court may require. Upon a showing to the satisfaction of the court that

provision has been made for the payment or satisfaction of all of the

outstanding obligations of the Utica transit authority and for the

necessary expenses for the liquidation thereof, the court may order that

the Utica transit authority be dissolved. The court shall also provide

for disposition of the property of the Utica transit authority.