N.Y. Public Authorities Law Section 1694
Termination of authority


1.

The authority shall continue to operate and manage each such dormitory until such time as its liabilities thereon have been met and the bonds outstanding against such dormitory have been paid in full or such liabilities or bonds have otherwise been discharged. Thereupon, the jurisdiction of the authority over such dormitory shall cease and all the real and personal property and the title to all of the real and personal property of such dormitory vested in the authority shall pass to the state of New York and the management and authority shall thereafter be under rules and regulations of the commissioner of education approved by the regents.

2.

The authority and its corporate existence shall continue until terminated by law, provided, however, that no such law shall take effect so long as the authority shall have bonds, notes and other obligations outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the authority, all of its rights and properties shall pass to and be vested in the state.

Source: Section 1694 — Termination of authority, https://www.­nysenate.­gov/legislation/laws/PBA/1694 (updated Sep. 22, 2014; accessed Jun. 15, 2024).

1675
Short title
1676
Definitions
1676‑A
Payment on authority public work projects
1677
Dormitory Authority
1678
Powers of the authority
1678‑A
New York state design and construction corporation act
1679
Supplemental higher education loan financing program
1679‑A
Health education assistance loan financing program
1679‑B
Equipment loans
1679‑C
The New York higher education loan program
1680
Dormitories at certain educational institutions other than state operated institutions and statutory or contract colleges under the juris...
1680‑A
Judicial facilities in certain counties
1680‑B
Court facilities and combined occupancy structures
1680‑C
Creation of the court facilities capital review board
1680‑D
Sale of bonds by the authority
1680‑E
State university athletic facilities
1680‑F
Roswell Park Cancer Institute development account
1680‑G
Child care facilities development program
1680‑H
Sale of bonds by the authority
1680‑I
Judiciary
1680‑J
New York state higher education capital matching grant board
1680‑J*2
Authorization for the issuance of bonds for the health care efficiency and affordability law for New Yorkers (HEAL NY) capital grant program
1680‑K
Financing of department of agriculture and markets facilities
1680‑L
The special disability fund financing
1680‑M
Cultural education facilities
1680‑N
Acquisition of state buildings and other facilities
1680‑O
Courthouse improvements and training facilities
1680‑P
Longitudinal data system
1680‑Q
State university of New York dormitory facilities
1680‑Q*2
Self-insured bond financing
1680‑R
Authorization for the issuance of bonds for the capital restructuring financing program, the health care facility transformation programs...
1681
Moneys of the authority
1681‑A
Distribution of board materials
1682
Bonds of the authority
1682‑A
Financial monitoring
1683
State not liable on bonds
1684
Bonds legal investments for fiduciaries
1685
Exemptions from taxation
1686
Remedies of bondholders
1686‑A
Security by authority
1687
Members and employees not to profit
1688
Visitation by regents
1689
Board of cooperative educational services school facilities
1689‑A
Public school districts
1689‑B
Sale of bonds by the authority
1689‑C
Capital facility program, authority financing of eligible projects
1689‑D
Bidding requirements
1689‑E
Biomedical facilities program, authority financing of eligible projects
1689‑F
Public school districts
1689‑G
Local government infrastructure
1689‑H
Expedited deployment funding
1689‑I
Library construction
1689‑I*2
Public school districts
1690
Contract of the state
1691
Actions against authority
1693
Title not affected if in part unconstitutional or ineffective
1694
Termination of authority

Accessed:
Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 1694’s source at nysenate​.gov

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