§ 1219. Continuity of jurisdiction. The authority shall be deemed and
held to constitute a continuation, as to matters within its
jurisdiction, of the board of transportation for the purpose of
succession to the rights, powers, duties and obligations of the board of
transportation transferred to such authority. Upon the termination of
the agreement of transfer provided for in section eighteen hundred three
of this title or of any renewal thereof, all the rights and properties
of the authority shall pass to the city and the city shall succeed to
the rights, powers, duties and obligations of the authority.