Statute · New York Yonkers financial emergency act
N.Y. Yonkers financial emergency act § 4 — General rights and prohibitions
N.Y. Yonkers financial emergency act § 4
- Type
- Statute
- Source
- New York Yonkers financial emergency act
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 4. General rights and prohibitions. 1. Neither the city nor any covered organization shall borrow or expend any moneys, or in any way, directly or indirectly, expressly or implicitly engage its credit during the emergency period except in compliance with the provisions of this act and the…
Citator
N.Y. Yonkers financial emergency act § 4 — General rights and prohibitions is in force in the current edition of the Code, and nothing recorded condemns it.
§ 4. General rights and prohibitions. 1. Neither the city nor any covered organization shall borrow or expend any moneys, or in any way, directly or indirectly, expressly or implicitly engage its credit during the emergency period except in compliance with the provisions of this act and the special fiscal act.
2. Nothing contained in this act shall limit the right of the city or any covered organization to comply with the provisions of any existing contract with or for the benefit of the holders of any bonds or notes of the city or such covered organization or with the provisions of the special fiscal act.
3. Nothing contained in this act shall be construed to impair the right of employees to organize or to bargain collectively.