N.Y. Educ. Law § 1518

§ 1518. Continuance of dissolved districts for payment of debts.\nThough a district be dissolved, it shall continue to exist in law, for\nthe purpose of providing for and paying all its just debts, except as\nprovided in section fifteen hundred seventeen; and to that end the\ntrustees and other officers shall continue in office, and the\ninhabitants may hold special meetings, elect officers to supply\nvacancies and vote taxes; and all other acts necessary to raise money\nand pay such debts shall be done by the inhabitants and officers of the\ndistrict.\n