N.Y. Goes Back to School

McDonald, Michael
June 2003
Bond Buyer;6/11/2003, Vol. 344 Issue 31654, p1
Trade Publication
The New York Municipal Bond Bank will price a $23 million insured deal in June 2003 in its effort to kick off plans to sell more than $400 million of special-purpose revenue bonds to fund aid payments in arrears to some state school districts, including New York City's. The state is also preparing to price $200 million of tax-exempt general obligation (GO) bonds as well as $30 million of taxable GO. The state legislature authorized a resolution for the bond bank last year to bond out aid for teachers' salaries and school maintenance for a number of districts across New York that were in arrears as of May 15, 2002.


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