2550 - Termination of authority and existence.

§  2550. Termination of authority and existence. At such time as notes  and bonds of the  corporation  or  notes  and  bonds  of  the  municipal  assistance  corporation  for  the  city  of New York, or any combination  thereof, are outstanding in the aggregate principal amount equal to five  hundred twenty million dollars, the purposes for which  the  corporation  was  created  shall have been satisfied and the corporation shall not be  authorized to issue any notes or bonds that would cause  such  aggregate  amount  to  be  exceeded.  If  the  corporation  has  no  notes or bonds  outstanding at such time as its authorization to issue  notes  or  bonds  terminates, the existence of the corporation shall terminate.