§ 4 — General rights and prohibitions

New York § 4

• Jurisdiction: New York
• Law YFA: Yonkers financial emergency act 103/84

Text

§ 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 this\nact and the special fiscal 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 with the provisions of the\nspecial fiscal act.\n 3. Nothing contained in this act shall be construed to impair the\nright of employees to organize or to bargain collectively.\n