N.Y. Pub. Auth. Law § 1441

§ 1441. Termination of the authority and disposition of properties.\nThe authority and its corporate existence shall continue only to the\nthirtieth day of June, two thousand four, and thereafter until all its\nliabilities have been met and its bonds have been paid in full or such\nliabilities or bonds have otherwise been discharged. Upon its ceasing to\nexist, all its rights and properties shall pass to the city.\n