N.Y. FEA Law § 2-A
This is the official text of N.Y. FEA Law § 2-A, part of New York’s FEA Law — part of the compiled statutory law of New York, published by the state as "FEA Law." Browse the sections below, each linked to its official government source.
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Legislative declaration of financial emergency
Official statutory text
* § 2-a. Legislative declaration of financial emergency. The\nlegislature hereby finds and declares that a state of financial\nemergency continues to exist within the city. The legislature further\nfinds and declares that the maintenance by the city of a balanced budget\nin accordance with generally accepted accounting principles and the\ncity's borrowing practices are and will continue to be a matter of\noverriding state concern, and that it is also appropriate and desirable\nfor the legislature to exercise its duty under section twelve of article\neight of the state constitution to restrict the powers of the city to\nprevent abuses in taxation and assessments and in contracting of\nindebtedness by the city.\n * Terminates July 1, 2035 or ... see § 13\n
Status: in_force · Read it on the official government site
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