GOVT. ASSISTANCE v. SALES TAX


1 Misc.3d 272 (2003)

764 N.Y.S.2d 577

LOCAL GOVERNMENT ASSISTANCE CORPORATION et al., Plaintiffs, v. SALES TAX ASSET RECEIVABLE CORPORATION et al., Defendants.

Supreme Court, Albany County.

August 20, 2003.


Attorney(s) appearing for the Case

Kornstein Veisz Wexler & Pollard, LLP, New York City (Robert S. Smith of counsel), for plaintiffs.

Michael A. Cardozo, Corporation Counsel, New York City, and Couch White LLP, Albany (Henry M. Greenberg of counsel), for defendants.


OPINION OF THE COURT

LOUIS C. BENZA, J.

Plaintiffs move this court for a preliminary injunction enjoining defendants from issuing bonds or otherwise implementing the provisions of the MAC Refinancing Act. Defendants oppose such relief. After the submissions by the parties and oral argument held on August 14, 2003, the court makes the following determination.

In response to the fiscal crisis of the City of New York in the mid-1970s, the Legislature...

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