Mangano backers heartened by judge's comment
Supporters of County Executive Edward Mangano believe the judge in his lawsuit against the Nassau Interim Finance Authority looked favorably on the argument that NIFA's power to enact a "control period" expired in 2008.
Judge Arthur Diamond said at a hearing last week he found the point "very interesting," but didn't elaborate. Lawyers uninvolved in the case said while some NIFA powers had lapsed, NIFA may have retained those powers through wordings in bond covenants. (Fans of Robert Caro's "The Power Broker" may recall how Robert Moses amassed clout through bond covenants of his projects.)
Also, one author of the 2000 NIFA law, then-Assemb. Thomas DiNapoli, told Newsday in 2008: "If the county really does revert to bad practices, the mechanism is in place for NIFA to go back to a more aggressive role."
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
