Section 1869. Termination of the authority

The authority and its corporate
  existence shall continue until terminated  by  law,  provided,  however,
  that  no  such law shall take effect so long as the authority shall have
  bonds, notes or other obligations outstanding. Upon termination  of  the
  existence  of  the  authority all its rights, property, assets and funds
  shall pass to and be vested in the  state.  For  the  purposes  of  this
  section,  any  appropriation  or  advance  made  to the authority by the
  state, which has  not  been  repaid,  shall  not  be  deemed  to  be  an
  outstanding obligation of the authority.