Section 552. Triborough bridge and tunnel authority

1. A board, to be known
  as  "Triborough  bridge  and  tunnel  authority" is hereby created. Such
  board shall be a  body  corporate  and  politic  constituting  a  public
  benefit  corporation. It shall consist of seventeen members, all serving
  ex officio. Those members shall be the persons who  from  time  to  time
  shall   hold  the  offices  of  chairman  and  members  of  metropolitan
  transportation authority. The  chairman  of  such  board  shall  be  the
  chairman  of  metropolitan transportation authority, serving ex officio,
  and, provided that there is an executive director  of  the  metropolitan
  transportation  authority, the executive director of the authority shall
  be the executive director of the metropolitan transportation  authority,
  serving   ex  officio.  Notwithstanding  subdivision  three  of  section
  twenty-eight hundred twenty-four of this chapter or any other  provision
  of  law  to  the  contrary,  the  chairman  shall be the chief executive
  officer of the authority and shall be responsible for the  discharge  of
  the  executive and administrative functions and powers of the authority.
  The chairman and executive director, if any, each shall be empowered  to
  delegate his or her functions and powers to the executive officer of the
  Triborough  bridge and tunnel authority or to such person as may succeed
  to the powers and duties of said executive  officer.  The  chairman  and
  other  members  of the board hereby created, and the executive director,
  if any, shall  not  be  entitled  to  compensation  for  their  services
  hereunder  but  shall  be entitled to reimbursement for their actual and
  necessary expenses incurred in the performance of their official duties.
    2. A majority of the whole number of members of the authority then  in
  office  shall constitute a quorum for the transaction of any business or
  the exercise  of  any  power  of  the  authority.  Except  as  otherwise
  specified  in  this  title  for  the  transaction of any business or the
  exercise of any power of the authority, the  authority  shall  have  the
  power to act by a majority vote of the members present at any meeting at
  which a quorum is in attendance and except further, that in the event of
  a tie vote the chairman shall cast one additional vote. For the purposes
  of  the  voting  and quorum requirements of this subdivision, the voting
  and quorum requirements set forth in subdivision three of section twelve
  hundred  sixty-three  of  this  chapter  and  in  any  by-law   of   the
  metropolitan transportation authority adopted pursuant to the provisions
  of  such  subdivision  shall  be  applicable  hereto. Such board and its
  corporate existence shall continue only for a period of five  years  and
  thereafter  until all its liabilities have been met and its bonds, notes
  and other obligations have been paid in  full  or  such  liabilities  or
  bonds,  notes  or  other  obligations  have  otherwise  been discharged,
  including bonds, notes or other obligations issued by  the  metropolitan
  transportation  authority  that  are  payable  in  whole  or  in part by
  revenues  of  the  authority.  When  all  liabilities  incurred  by  the
  authority  of  every kind and character have been met and all its bonds,
  notes and other obligations have been paid  in  full,  including  bonds,
  notes  or  other  obligations  issued by the metropolitan transportation
  authority that are payable in whole  or  in  part  by  revenues  of  the
  authority, or such liabilities or bonds, notes or other obligations have
  otherwise  been  discharged,  all rights and properties of the authority
  shall pass to and be  vested  in  the  city,  except  those  rights  and
  properties held by it relating to the convention center which shall pass
  to  and  be  vested  in  the  state.  The  authority  shall  retain full
  jurisdiction and control over all its projects, with the right and duty,
  subject to the limitations of subdivision nine of section  five  hundred
  fifty-two-a  of  this  title,  to  charge  tolls  and  collect  revenues
  therefrom, for the benefit of the holders of any of its bonds, notes  or
  other  obligations  or other liabilities, even if not issued or incurred

  in connection with the project. Upon the authority's  ceasing  to  exist
  all  its  remaining rights and properties shall pass to the city, except
  those rights and properties held by it relating to the convention center
  which shall pass to the state.
    3.  Notwithstanding  any  inconsistent provisions of this or any other
  law, general, special or local, no officer or employee of the  state  or
  of  any  public  corporation  as  defined in the general corporation law
  shall be deemed to  have  forfeited  or  shall  forfeit  his  office  or
  employment  or  any  benefits  provided  under the retirement and social
  security law or under any public retirement  system  maintained  by  the
  state  or  any  of  its  subdivisions by reason of being a member or the
  chairman of the authority.