N.Y. Public Authorities Law § 3956: County fiscal year two thousand five budget modification and four-year financial plan

§ 3956. County fiscal year two thousand five budget modification and

four-year financial plan. 1. Not later than October first, two thousand

five, the county executive, upon approval by the legislature, shall

submit to the authority a budget modification and financial plan

consistent with the financial plan requirements contained in section

thirty-eight hundred fifty-seven of this article which may reflect a

declaration of need as provided for in section thirty-nine hundred

sixty-one of this title; provided, however, in county fiscal year two

thousand five such declaration of need shall not exceed one hundred

twenty-five million dollars in ECFSA assistance as defined in paragraph

(a) of subdivision twelve of section thirty-nine hundred fifty-one of

this title. The plan shall cover the county's two thousand five fiscal

year and the three subsequent fiscal years.

2. Not later than fifteen days after such submission, the authority

shall approve or disapprove the financial plan.

3. In the event the authority shall disapprove such financial plan

based on disapproval of certain actions or assumptions, the authority

shall promptly thereafter notify the county executive and legislature of

its reasons. Within fifteen days from the receipt of such notification

the county executive, upon the approval of the legislature, shall modify

the financial plan. If the county fails to make such modifications, the

authority shall adopt a resolution so finding.