(1) the name of the authority;

(2) the names of the members appointed by the town board and their terms of office; and

(3) the effective date of this title. The authority shall be perpetual in duration, except that if such certificate is not filed with the secretary of state on or before such date, then the corporate existence of the authority shall thereupon terminate and it shall thereupon be deemed to be and shall be dissolved.

(b) Except as provided in paragraph (a) of this subdivision, 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 or other obligations outstanding unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the existence of the authority, all of the rights and properties of the authority then remaining shall pass to and vest in the town. 6. It is hereby determined and declared, that the authority and the carrying out of its powers and duties are in all respects for the benefit of the people of the town and the state for the improvement of their health, welfare and prosperity and that such purposes are public purposes and that the authority is and will be performing an essential governmental function in the exercise of the powers conferred upon it by this title. 7. In carrying out its functions the authority shall take into consideration the local zoning and planning regulations as well as local comprehensive land use plans. * NB There are 2 § 1124's