Title YFA, Yonkers financial emergency act 103/84

Section 1. Short title. This act shall be known and may be cited as\nthe "New York State Financial Emergency Act of Nineteen Hundred\nEighty-four for the City of Yonkers".\n

§ 10. Establishment and application of emergency financial control\nboard fund for the city of Yonkers. 1. There is hereby established a\nfund designated the emergency financial control board fund for the city\nof Yonkers. Commencing on the effective date of the initial financia…

§ 11. Authorization for wage freeze. 1. Upon a finding by the board\nthat a wage freeze is essential to the adoption or maintenance of a city\nbudget that is in compliance with this act, the board, after enactment\nof a resolution so finding, may declare a fiscal crisis. Upon ma…

§ 12. Prohibitions; penalties. 1. During the emergency period (i) no\nofficer or employee of the city or of any of the covered organizations\nshall make or authorize an obligation or other liability in excess of\nthe amount available therefor under the financial plan as then in\…

§ 13. Indemnification. 1. The state shall save harmless and indemnify\nmembers, officers and employees of and representatives to the board, all\nof whom shall be deemed officers and employees of the state for purposes\nof section seventeen of the public officers law, against any…

§ 14. Termination. Six months after the end of the emergency period,\nthe existence of the board and all other provisions of this act not\ntheretofore terminated shall terminate.\n

§ 2. Definitions. As used in this act, the following words and terms\nshall have the following meanings unless the context shall indicate\nanother or different meaning or intent.\n 1. "Available funds" means at any date the amounts in the fund which\nare then available, as deter…

§ 3. Legislative declaration of financial emergency. The legislature\nhereby finds and declares that a state of financial emergency exists\nwithin the city of Yonkers.\n

§ 4. General rights and prohibitions. 1. Neither the city nor any\ncovered organization shall borrow or expend any moneys, or in any way,\ndirectly or indirectly, expressly or implicitly engage its credit during\nthe emergency period except in compliance with the provisions of t…

§ 5. Power of city or covered organization to determine the\nexpenditure of available funds. Nothing contained in this act shall be\nconstrued to limit the power of the city or a covered organization to\ndetermine, from time to time, within available funds for the city or for\ns…

§ 6. New York state emergency financial control board for the city of\nYonkers; created. There is hereby created the New York state emergency\nfinancial control board for the city of Yonkers. The board shall be a\ngovernmental agency and instrumentality of the state and it shall…

§ 7. Administration of the board. 1. The membership of the board shall\nbe the secretary of state, the comptroller (pursuant to his authority to\nsupervise the accounts of any political subdivision of the state), the\nmayor and four members appointed by the governor with the adv…

§ 8. Functions of the board. 1. In carrying out the purposes of this\nact, the board shall perform the following functions:\n a. As set forth in section nine of this act, the board shall (i)\nconsult with the city and the covered organizations in the preparation\nof the financia…

§ 9. Development of the financial plan. 1. Pursuant to the procedures\ncontained in subdivision two of this section, each year the city shall\ndevelop, and may from time to time modify, with the approval of the\nboard, a four year financial plan covering the city and the covered…