*§ 1470-q. Termination of the authority. Whenever all of the bonds issued by the authority shall have been redeemed or canceled, and all its liabilities met or discharged, and the termination date of its corporate existence as set forth in section fourteen hundred seventy-b of this title shall have been reached, the authority shall cease to exist and all rights, titles 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 of Rome.

Terms Used In N.Y. Public Authorities Law 1470-Q

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

* NB City of Rome Parking Authority ceased to exist 12/31/2000 per § 1470-b, and thereafter until all liabilities have been met/discharged, and all bonds paid/discharged