Section 3652. Nassau county interim finance authority

1. There is hereby
  created the Nassau county interim finance authority. The authority shall
  be a corporate governmental agency  and  instrumentality  of  the  state
  constituting a public benefit corporation.
    2.  In accordance with the provisions of this title, the authority may
  issue bonds only to finance costs,  including  the  refunding  of  bonds
  issued  by  the  authority to finance costs, and fund reserves to secure
  such bonds.
    3. The authority shall continue until its oversight, control or  other
  responsibilities,  and  its  liabilities  have  been  met  or  otherwise
  discharged. Upon the termination of the existence of the authority,  all
  of its rights and property shall pass to and be vested in the county.