§ 3856 — City fiscal year two thousand three--two thousand four budget modification and four-year financial plan

§ 3856. City fiscal year two thousand three--two thousand four budget\nmodification and four-year financial plan. 1. Not later than September\nfirst, two thousand three, the city shall submit to the authority a\nfinancial plan which may reflect a declaration of need as provided for\nin section thirty-eight hundred sixty-one. The plan shall cover the\ncity's two thousand three--two thousand four fiscal year and the three\nsubsequent fiscal years.\n 2. Not later than fifteen days after such submission, the authority\nshall approve or disapprove the financial plan.\n 3. In the event the authority shall disapprove such financial plan\nbased on disapproval of certain actions or assumptions, the authority\nshall promptly thereafter notify the city of its reasons. Within fifteen\ndays from the receipt of such notification the city shall modify the\nfinancial plan, and unless such financial plan modification is approved\nby the authority, the authority shall impose a financial plan of its own\nformulation as soon as practicable, as provided for in section\nthirty-eight hundred fifty-eight of this title.\n