On Thu Nov 3, Carl Remick wrote:
> > And the city still operates under the "emergency" legislation from the
> > fiscal crisis days, meaning the financial control board could step in
> > and put the city into receivership.
>
> Amazing. I had no idea those measures were still in effect.
They expire in 2008. Actually, fwiw, there are 2 NYC ballot proposals to be voted on next week, and the second one (Question 4, since there are also 2 NYS proposals) is about making the main provisions of the Financial Emergency Act permanently part of the City Charter. But notably excepting the Financial Control Board, which arguably changes everything:
http://www.nyccfb.info/debates_vg/voter_guides/general_2005/ballot_nyc04.aspx
Michael