New York Public Authorities Law Section 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.

Last modified: February 3, 2019