It is expected to seek a state bailout.

Each year, its government has spent more money than it has taken in, becoming dependent on state bailouts and borrowing to make ends meet.

That required a state bailout and the imposition of an oversight board.

The Governor has long maintained that any state bailout must include concessions from the district's teachers.

If it fails to do so, only a state bailout will prevent the city from going broke.

"I don't see any sort of a state bailout coming," he said.

Orange County officials have long stated that they will not seek a state bailout.

But the new plan cannot be carried out until 2005 because of commission rules that prohibit state bailouts of companies more than once every 10 years.

The county's mounting deficits required a state bailout and the imposition of the oversight board.

He was referring to Nassau's deficit-ridden past, which led to a state bailout and the imposition of a fiscal review board.