Long Beach Weighs Fiscal Emergency Declaration

Moody's downgraded the city to a credit rating of just above junk bond status.

Wednesday, Jan 18, 2012  |  Updated 10:09 AM EDT
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The city of Long Beach on Long Island is considering a proposal to declare a fiscal emergency.     

The matter had been on the agenda at Tuesday night's meeting of the city council. City spokesman Gordon Tepper says it was tabled until Feb. 7.     

He says city officials want to study the legal language in the proposal before voting. He says the city is struggling with a fiscal crisis and faces a $48 million debt.

Moody's downgraded the city to a credit rating of just above junk bond status.

Officials say plans call for a curb on overtime and improved accountability.      

The city on Long Island's south shore is a popular destination during summer months.

Last year, it played host to the first professional surfing tournament ever held in New York.

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