§ 3959. Control period. 1. The authority shall impose a control period\nat any time that any of the following events has occurred or that there\nis a substantial likelihood and imminence of such occurrence: (a) the\ncounty shall have failed to adopt a balanced budget within time frames\nprescribed in the county charter, financial plan or budget modification\nas required by sections thirty-nine hundred fifty-six and thirty-nine\nhundred fifty-seven of this title; (b) the county shall have failed to\npay the principal of or interest on any of its bonds or notes when due;\n(c) the county shall have incurred a major operating funds deficit of\none percent or more in the aggregate results of operations of such funds\nof the county during its fiscal year assuming all revenues and\nexpenditures are reported in accordance with generally accepted\naccounting principles, subject to the provisions of this title; (d) the\ncomptroller's certification at any time, at the request of the authority\nor on the comptroller's initiative, which certification shall be made\nfrom time to time as promptly as circumstances warrant and reported to\nthe authority, that on the basis of facts existing at such time the\ncomptroller could not make the certification described in paragraph (b)\nof subdivision one of section thirty-nine hundred fifty-one of this\ntitle; or (e) the county shall have violated any provision of this\ntitle. The authority shall terminate any such control period when it\ndetermines that none of the conditions which would permit the authority\nto impose a control period exist. After termination of a control period\nthe authority shall annually consider paragraphs (a) through (e) of this\nsubdivision and determine whether, in its judgment, any of the events\ndescribed in such paragraphs have occurred and the authority shall\npublish each such determination. Any certification made by the\ncomptroller hereunder shall be based on the comptroller's written\ndetermination which shall take into account a report and opinion of an\nindependent expert in the marketing of municipal securities selected by\nthe authority, and the opinion of such expert and any other information\ntaken into account shall be made public when delivered to the authority.\nNotwithstanding any part of the foregoing to the contrary, in no event\nshall any control period continue beyond the later of (i) December\nthirty-first, two thousand thirty-nine, or (ii) the date when all bonds\nof the authority are refunded, discharged or otherwise defeased.\n 2. In carrying out the purposes of this title during any control\nperiod, the authority:\n (a) shall approve or disapprove the financial plan and the financial\nplan modifications of the county, as provided in section thirty-nine\nhundred fifty-seven of this title, and shall formulate and adopt its own\nmodifications to the financial plan, as necessary; such modifications\nshall become effective upon their adoption by the authority;\n (b) may set a maximum level of spending for any proposed budget of any\ncovered organization;\n (c) may impose a wage and/or hiring freeze: (i) During a control\nperiod, upon a finding by the authority that a wage and/or hiring freeze\nis essential to the adoption or maintenance of a county budget or a\nfinancial plan that is in compliance with this title, the authority\nshall be empowered to order that all increases in salary or wages of\nemployees of the county and employees of covered organizations which\nwill take effect after the date of the order pursuant to collective\nbargaining agreements, other analogous contracts or interest arbitration\nawards, now in existence or hereafter entered into, requiring such\nsalary or wage increases as of any date thereafter are suspended. Such\norder may also provide that all increased payments for holiday and\nvacation differentials, shift differentials, salary adjustments\naccording to plan and step-ups or increments for employees of the county\na
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