Section 1026. Albany Light, Heat and Power Authority

There is hereby
  defined and established an area in the county of Albany to be  known  as
  the "Albany light, heat and power district," which shall embrace all the
  territory  comprised within the cities of Albany, Cohoes and Watervliet,
  the villages of Ravena, Green Island,  Colonie,  Menands,  Voorheesville
  and  Altamont,  and  the  towns  of  Bethlehem, Coeymans, Colonie, Green
  Island, Guilderland and New Scotland, within such county. Such  district
  may  be extended at any time to include additional territory within such
  county, in the manner provided in section one thousand twenty-eight.
    There is also hereby created and established a public corporation,  to
  be  known  as  "Albany  Light, Heat and Power Authority," hereinafter in
  this title referred to as "the authority." The authority shall be a body
  corporate and politic constituting a  public  benefit  corporation,  the
  objects  of  which in the judgment of the legislature cannot be attained
  under general laws. It shall have the power to acquire by  the  exercise
  of  the  right of eminent domain or otherwise such real estate and other
  property as may be necessary, to  sue  and  be  sued,  to  incur  debts,
  liabilities  and  obligations,  to  issue  bonds  and other evidences of
  indebtedness, to have a seal, and to exercise all powers  authorized  by
  this  title  and reasonably necessary for accomplishing its purposes, or
  properly incidental thereto, subject to the provisions herein  contained
  and  to  the  constitution and laws of the United States and of New York
  state. Such powers shall be exercised in the name of the authority. Such
  authority  shall  continue  only  until  July  first,  nineteen  hundred
  sixty-three,  and thereafter until all its liabilities have been met and
  its bonds have been paid in full  or  such  liabilities  or  bonds  have
  otherwise been discharged; provided, however, that no appropriation made
  to  the  authority  by  the  state  of  New  York  or  by  any political
  subdivision thereof, shall be deemed a liability  for  the  purposes  of
  this section.
    * NB Terminated July 1, 1963