§ 12. Transfer upon cessation of the authority.

Should the authority cease to exist or to operate for whatever reason, all its property of whatever kind shall forthwith become the property of the city, subject to the outstanding obligations of the authority, and the city shall use this property to the maximum extent then practicable for effectuating the purposes hereof and shall succeed to and exercise all powers of the authority in so far [insofar] as such exercise is not in conflict with or inconsistent with the provisions of the city charter or other law applicable to the city.