N.Y. Public Authorities Law § 3950-a: Legislative declaration of need for state intervention

§ 3950-a. Legislative declaration of need for state intervention. The

legislature hereby finds and declares that the county of Erie is facing

a severe fiscal crisis, and that the crisis cannot be resolved absent

assistance from the state. The legislature further finds and declares

that maintenance of a balanced budget by the county of Erie is a matter

of overriding state concern, requiring the legislature to intervene to

provide a means whereby: the long-term fiscal stability of the county

will be assured, the confidence of investors in the county's bonds and

notes is preserved, and the economy of both the region and the state as

a whole is protected.