* § 1599-s. Termination of the authority. Whenever all of the bonds and notes issued by the authority shall have been redeemed or cancelled, and all its liabilities and duties met or discharged, and the termination date of its corporate existence as set forth in section fifteen hundred ninety-nine-c of this title shall have been reached, the authority shall cease to exist and all rights, title and interests and all obligations and liabilities thereof vested in or possessed by the authority shall thereupon vest in and be possessed by the city.

Terms Used In N.Y. Public Authorities Law 1599-S*4

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

* NB Authority ceased to exist 08/05/2002

* NB There are 4 § 1599-s's

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