* § 76. Dissolution. An authority or the city may apply to the supreme
court in any county in which the city or any part thereof is located,
for an order dissolving the authority. The court thereupon shall hold a
hearing in open court after such notice of hearing as the court may
require. Upon a showing to the satisfaction of the court that provision
has been made for the payment or satisfaction of all of the outstanding
obligations of the authority and for the necessary expenses for the
liquidation thereof, the court may order that the authority be
dissolved. Upon such dissolution the property of the authority shall be
and become the property of the city.

* NB The text of Article 5 of the former State Housing Law (cited
herein as the "Municipal Housing Authorities Law"), as such article
existed immediately prior to its repeal pursuant to section 227 of
Chapter 808 of the Laws of 1939, is provided here for ease of reference
and historical purposes as such text continues to be applicable for the
New York City Housing Authority pursuant to the provisions of section
401 of the current Public Housing Law.