Common use of – Fiscal Crisis Clause in Contracts

– Fiscal Crisis. If, during the term of this MOU, the City of Tempe experiences loss of revenues or legal requirements, that if not resolved during the budget year would result in the layoff of employees or the serious curtailment of City services provided to the residents of Tempe, this MOU may be reopened. This provision shall only apply if the general population of employees is subject to the same or greater reduction of pay or benefits negotiated as a result of this re-opener provision. The following provisions shall apply to this circumstance:

– Fiscal Crisis. ‌ If, during the term of this MOU, the City of Tempe experiences loss of revenues or legal requirements, that if not resolved during the budget year would result in the layoff of employees or the serious curtailment of City services provided to the residents of Tempe, this MOU may be reopened. This provision shall only apply if the general population of employees is subject to the same or greater reduction of pay or benefits negotiated as a result of this re-opener provision. The following provisions shall apply to this circumstance: