Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Note: New York - A City In Crisis: Fiscal Emergency Legislation And The Constitutional Attacks, Gayle Gutekunst-Roth
Note: New York - A City In Crisis: Fiscal Emergency Legislation And The Constitutional Attacks, Gayle Gutekunst-Roth
Fordham Urban Law Journal
Generous spending and, some would add, fiscal mismanagement have been a New York City tradition, putting tremendous pressures on both the City and State budgets. To forestall the deterioration of the City's financial condition and the subsequent collapse of the City itself, the New York State Legislature enacted a series of laws, many of which were feverishly incorporated into the body of State law in extraordinary session. With the creation of public authorities, the authorization of State funds to aid these authorities, and State hindrance of the payment of municipal debt service obligations, came inevitable claims in the courts that …
The Limits Of State Intervention In A Municipal Fiscal Crisis, Joel E. Cohen
The Limits Of State Intervention In A Municipal Fiscal Crisis, Joel E. Cohen
Fordham Urban Law Journal
Municipal fiscal crises are becoming more frequent, causing the tradition of local control to be questioned. The problems plaguing New York City are but one example of this nation-wide trend. In order to aid the City in overcoming its fiscal crisis, New York State has created two novel agencies, the Municipal Assistance Corporation (MAC) and the Emergency Financial Control Board. MAC's major purpose is to aid the city in meeting its financial requirements, while the Control Board's main function is to monitor the City's spending. One accomplishment of these two organizations has been the implementation of drastic austerity measures that …