Issues: (1) What standard of review governs a district court’s evaluation of the Financial Oversight and Management Board for Puerto Rico’s determination that Puerto Rican legislation “would impair or defeat the purposes of” the Puerto Rico Oversight, Management, and Economic Stability Act and its review of that legislation for consistency with the fiscal plan; (2) whether this standard of review requires the Board to reasonably and contemporaneously explain its decisions without relying on post-hoc justifications; and (3) whether the court of appeals erred in affirming the Title III Court’s holding that the Board’s determinations regarding Puerto Rican Acts 47, 82, 138, and 176 were not arbitrary and capricious.
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