N.Y. Pub. Auth. Law § 1475-t

§ 1475-t. Termination of the authority. Whenever all of the bonds\nissued by the authority shall have been redeemed or cancelled, the\nauthority shall cease to exist and all rights, titles, and interest and\nall obligations and liabilities thereof vested in or possessed by the\nauthority shall thereupon vest in and be possessed by the city.\n