§ 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.