Word: receivership
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Dates: during 1970-1979
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...million in loans, guaranteed by the city, to give Chicago's board time to come up with a long-term solution to the school system's financial woes-which will almost certainly require tax increases. In effect, Mayor Byrne explained, the school board was in receivership and the city was the credit holder...
...kind of unusual demand. Every year at harvest time, there is a severe shortage of hopper cars and boxcars for carrying grain. Meanwhile, many of the railroads that serve the nation's agricultural heartland are failing. The Rock Island, for example, is bankrupt and has been in receivership for the past four years. The strike resulted from its inability to pay clerks and transportation workers $9 million in retroactive...
...state and federal, can be found ordering government boards and agencies to obey the law. When the boards balk, as they often do, judges end up running school boards, welfare agencies, mental hospitals and prisons. Just last month, for instance, a Boston judge placed 67 public housing projects into receivership under court control because they had been mismanaged by the Boston housing authority. Such decisions often require judges to rule on specific questions like garbage removal from tenements, proper bus routes for schoolchildren and minimum hot water temperatures for prison inmates...
...profit from the $1.8 million sale of his Beverly Hills estate, which allegedly was maintained at church expense. The suit also raises questions about Rader's financial involvement in an ad agency, a travel agency and a book-publishing firm that sell services to the church. At a receivership hearing in Los Angeles last week, Rader won the right to look at his records -but only with the permission of a court-appointed official. Says Deputy State Attorney General Lawrence Tapper: "We've termed it letting the wolf inside the chicken coop." But the court rejected Rader...
...capital-improvement fund to pay other departments' operating expenses. But now the water system has decayed dramatically: pipes are badly corroded and a filtration plant is in danger of closing down for lack of maintenance. Two weeks ago a local court ordered the water department into receivership while a regional authority prepared to take over its operation...