N.Y. Pub. Auth. Law § 2828

§ 2828. Termination of public authorities. Every authority or\ncommission hereafter created by this chapter shall terminate at the end\nof five years from the date of its creation if at the end of such period\nit has outstanding no liabilities; provided, however, that any\nappropriation made to such authority or commission by the state of New\nYork or by any political subdivision thereof shall not be deemed a\nliability for the purposes of this section.\n