No need to worry.
New York was broke in 1975. Couldn't even pay the council workers but, as you say, the PTB couldn,t afford the anarchy that would occur should essential services be halted. So crank up the printing presses.
Problem solved. Shame that the city hasn't paid a cent off the additional loans and probably never will.
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3 | 650100 | 0.025 |
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3 | 1560000 | 0.022 |
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