§ 3852. Buffalo fiscal stability authority. 1. There is hereby created
the Buffalo fiscal stability authority. The authority shall be a
corporate governmental agency and instrumentality of the state
constituting a public benefit corporation.

2. The authority shall conduct meetings as often as deemed necessary
to accomplish its purposes, but not less than quarterly during a control
period, and annually during an advisory period.

3. The authority shall continue until its control, advisory or other
responsibilities, and its liabilities have been met or otherwise
discharged, which in no event shall be later than June thirtieth, two
thousand thirty-seven. Upon the termination of the authority, all of its
property and assets shall pass to and be vested in the city.