-------- Original Message --------
| Subject: | News Alert: New York State Takes Control of Nassau's Finances |
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| Date: | Wed, 26 Jan 2011 14:37:14 -0500 |
| From: | NYTimes.com News Alert <nytdirect@nytimes.com> |
| Reply-To: | nytdirect@nytimes.com |
| To: | rhomp2002@EARTHLINK.NET |
Breaking News Alert The New York Times Wed, January 26, 2011 -- 2:36 PM ET ----- New York State Takes Control of Nassau's Finances A state oversight board has seized control of Nassau County's finances, saying the wealthy and heavily taxed county had nonetheless failed to balance its $2.6 billion budget despite months of increasingly ominous warnings. It was only the second time a county had been taken over by New York State. The 6-0 vote on Wednesday afternoon by the Nassau County Interim Finance Authority gives it veto power over the county's budget, labor contracts, borrowings and other major financial commitments. The board cited a deficit that reached nearly $350 million at one point last year but that was not fully closed, it said, despite assurances to the contrary by the county executive, Edward P. Mangano, a Republican. Read More: http://www.nytimes.com?emc=na About This E-Mail You received this message because you are signed up to receive breaking news alerts from NYTimes.com. To unsubscribe, change your e-mail address or to sign up for daily headlines or other newsletters, go to: http://www.nytimes.com/email NYTimes.com 620 Eighth Ave. New York, NY 10018 Copyright 2011 The New York Times Company
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