New York · statute · N.Y. Yonkers financial emergency act 103/84 Law · 15 active provisions
NEW YORK STATE FINANCIAL EMERGENCY ACT OF NINETEEN HUNDRED EIGHTY-FOUR FOR THE CITY OF YONKERS Section 1. Short title 2. Definitions 3. Legislative declaration of financial emergency 4. General rights and prohibitions 5. Power of city or covered organization to determine the expenditure of available funds 6. New York s…
Section 1. Short title. This act shall be known and may be cited as the "New York State Financial Emergency Act of Nineteen Hundred Eighty-four for the City of Yonkers".
§ 2. Definitions. As used in this act, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent. 1. "Available funds" means at any date the amounts in the fund which are then available, as determined by the board, to be applied to the purpo…
§ 3. Legislative declaration of financial emergency. The legislature hereby finds and declares that a state of financial emergency exists within the city of Yonkers.
§ 4. General rights and prohibitions. 1. Neither the city nor any covered organization shall borrow or expend any moneys, or in any way, directly or indirectly, expressly or implicitly engage its credit during the emergency period except in compliance with the provisions of this act and the special fiscal act. 2. Nothi…
§ 5. Power of city or covered organization to determine the expenditure of available funds. Nothing contained in this act shall be construed to limit the power of the city or a covered organization to determine, from time to time, within available funds for the city or for such covered organization, the purposes for wh…
§ 6. New York state emergency financial control board for the city of Yonkers; created. There is hereby created the New York state emergency financial control board for the city of Yonkers. The board shall be a governmental agency and instrumentality of the state and it shall have such powers and functions as are set f…
§ 7. Administration of the board. 1. The membership of the board shall be the secretary of state, the comptroller (pursuant to his authority to supervise the accounts of any political subdivision of the state), the mayor and four members appointed by the governor with the advice and consent of the senate. Such appointe…
§ 8. Functions of the board. 1. In carrying out the purposes of this act, the board shall perform the following functions: a. As set forth in section nine of this act, the board shall (i) consult with the city and the covered organizations in the preparation of the financial plan, and certify to the city the revenue es…
§ 9. Development of the financial plan. 1. Pursuant to the procedures contained in subdivision two of this section, each year the city shall develop, and may from time to time modify, with the approval of the board, a four year financial plan covering the city and the covered organizations. Each such financial plan and…
§ 10. Establishment and application of emergency financial control board fund for the city of Yonkers. 1. There is hereby established a fund designated the emergency financial control board fund for the city of Yonkers. Commencing on the effective date of the initial financial plan approved by the board and for the dur…
§ 11. Authorization for wage freeze. 1. Upon a finding by the board that a wage freeze is essential to the adoption or maintenance of a city budget that is in compliance with this act, the board, after enactment of a resolution so finding, may declare a fiscal crisis. Upon making such a declaration, the board shall be…
§ 12. Prohibitions; penalties. 1. During the emergency period (i) no officer or employee of the city or of any of the covered organizations shall make or authorize an obligation or other liability in excess of the amount available therefor under the financial plan as then in effect; (ii) no officer or employee of the c…
§ 13. Indemnification. 1. The state shall save harmless and indemnify members, officers and employees of and representatives to the board, all of whom shall be deemed officers and employees of the state for purposes of section seventeen of the public officers law, against any claim, demand, suit, or judgment arising by…
§ 14. Termination. Six months after the end of the emergency period, the existence of the board and all other provisions of this act not theretofore terminated shall terminate.