This Comment describes how New York City abused both its short-term and long-term borrowing powers in response to its financial problems. The Comment concludes that New York City is guilty of fiscal practices that underscore the conclusion that constitutional debt ceilings are phantom regulations of municipal debt incurrence. The authors encourage thorough and decisive reform, and commend the Association of the Bar of the City of New York's proposed Local Finance Article.
Nicholas P. Giuliano, Timothy J. Heine, and Tammy Elaine Tuller,
The Constitutional Debt Limit and New York City,
8 Fordham Urb. L.J. 185
Available at: http://ir.lawnet.fordham.edu/ulj/vol8/iss1/9