New York Laws
Title 28 - New York State Olympic Regional Development Authority
2610 - Review of and Recommendation on Continuation of the Authority.

§ 2610. Review of and recommendation on continuation of the authority.
1. 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 any outstanding obligations, unless
adequate provision has been made for the satisfaction thereof.

2. The authority shall submit on August fifteenth, nineteen hundred
ninety, a report to the governor, the chairman of the senate finance
committee and the chairman of the assembly ways and means committee and
the park district detailing the accomplishments of the authority since
its creation and making recommendations concerning its continuation.

3. The comptroller may conduct periodic financial audits of the
authority and report on August fifteenth, nineteen hundred ninety, to
the governor, the chairman of the senate finance committee and the
chairman of the assembly ways and means committee and the park district
on the appropriateness of the financial practices of the authority.

4. The director of the budget is hereby directed to conduct a survey
of the management and operating practices of the authority and report on
August fifteenth, nineteen hundred ninety, to the governor, the chairman
of the senate finance committee and the chairman of the assembly ways
and means committee and the park district on the appropriateness of the
management and operating practices of the authority. The director of the
budget shall include in such report his recommendations of whether the
authority shall be terminated or whether it shall be changed in any
manner, and if the director of the budget shall recommend that the
authority be terminated, he shall recommend what functions shall be
eliminated and what functions shall be continued by another authority or
agency.

5. In the event of termination of the existence of the authority, all
of its rights and properties shall pass to and be vested in the state,
except the personal property and any replacements and/or substitutions
therefor, used solely in connection with a participating olympic
facility which is administered, owned or supervised by the park district
shall pass to and be vested in the park district. All property which
passes to the state or the park district on termination of the authority
shall be accepted by the state or the park district, as the case may be,
in its condition at the time of such termination.