The effective date of the standard in Chapter 8 is for fiscal periods beginning after September 30, 1997.

Even during the most difficult fiscal period of the 1990's, the city invested much more in affordable housing than it does now.

"This proposed sale is a perfectly legitimate and financially sound way to guide us through a very difficult fiscal period," the statement said.

"It was a tough fiscal period, and I had to make the compelling argument that arts are an engine for economic growth," he said.

Huge budget gaps, ranging from $2.7 billion to $3.2 billion, are projected for the 2003 to 2005 fiscal period.

The bidding rights of 259 other contractors were temporarily suspended in the last half of the fiscal period.

The commitments which we have allotted constitute one seventh of the sums agreed for the entire fiscal period.

When the current fiscal period ended, its appropriation expired.

A new appropriation is necessary to authorize spending in the next fiscal period.

The standards included in the Statement will be effective for fiscal periods beginning after September 30, 2014.