N.Y. Pub. Auth. Law § 2334

§ 2334. Termination of the authority. Whenever all of the bonds issued\nby the authority shall have been redeemed or cancelled, and all\nstraight-lease transactions have been terminated, the authority shall\ncease to exist and all rights, titles, and interest and all obligations\nand liabilities thereof vested in or possessed by the authority shall\nthereupon vest in and be possessed by the city of Auburn.\n