Section 12720.204 - Term of existence of authority(a)General rule.--The authority shall have continuing existence and succession until the later of:(2) one year after all of the authority's liabilities, including without limitation, its bonds, have been fully paid or discharged or, in the case of authority bonds, one year after provision for such payment shall have been made as provided for in the applicable bond indenture.(b)Property at termination.--Upon the termination of the existence of the authority, all of its rights and properties, including funds remaining in the debt service reserve fund, shall be paid to the Commonwealth to the extent the Commonwealth has contributed such rights or property; otherwise, such rights or property shall pass to and be vested in the assisted city. 1991, June 5, P.L. 9, No. 6, § 204, imd. effective. Amended 2022, July 7, P.L. 440, No. 36, § 4, effective in 60 days [Sept. 6, 2022].