A New York State judge on Friday stayed a requirement that Nassau County submit a revised financial plan to its oversight board while he considers a challenge of the board’s legality.
Earlier this month Nassau officials filed a motion for a preliminary injunction to block the effective takeover of the county’s finances by the Nassau County Interim Finance Authority.
NIFA ordered the county to produce a revised financial plan after determining last month that its $2.6 billion budget had a deficit greater than the 1% that mandated a takeover.
New York State Supreme Court Judge Arthur Diamond issued the stay from a courtroom in Mineola.
“Today’s court proceedings further indicate the level of concern that both the court and residents should have over NIFA’s unfounded action to issue a control period over county finances,” Nassau County Executive Ed Mangano said in a statement.
NIFA chairman Ronald Stack said he could not comment on the matter because it was under litigation.
