§ 3 — General rights and prohibitions

* § 3. General rights and prohibitions. 1. Neither the city nor any\ncovered organization shall borrow or expend any monies, or in any way,\ndirectly or indirectly, expressly or implicitly, engage its credit\nduring any control period except in compliance with the provisions of\nthis act.\n 2. Nothing contained in this act shall limit the right of the city or\nany covered organization to comply with the provisions of any existing\ncontract with or for the benefit of the holders of any bonds or notes of\nthe city or such covered organization or any public authority or public\nbenefit corporation.\n 3. Nothing contained in this act shall be construed to impair the\nright of employees to organize or to bargain collectively.\n * Terminates July 1, 2035 or ... see § 13\n