New York Consolidated Laws, Economic Development Law - COM § 344. Payor of last resort

(a) The security provided by the local organizing committee pursuant to this act is fully expended and exhausted;

(b) Any security provided by any other person or entity is fully expended and exhausted;

(c) The limits of available insurance policies covering the net financial deficit or any expense or liability used in determining the net financial deficit, have been fully expended and exhausted;  and

(d) Payment has been sought by the local organizing committee from all third parties owing monies or otherwise liable to the local organizing committee.