TITLE

N.Y.C. Refuses Pataki's Offer to Work to Change MAC Plan

AUTHOR(S)
Braun, Martin Z.
PUB. DATE
August 2003
SOURCE
Bond Buyer;8/01/2003, Vol. 345 Issue 31690, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the New York City in New York State has refused the offer made by New York State governor George E. Pataki to work to change the controversial state legislation plan to refinance New York City's 2.5 billion outstanding debt of the financial board, Municipal Assistance Corp., as of August 1, 2003. Plan of New York City to sell the refunding debt through the local development company, Sales Tax Refinancing Corp.; Use of $170 million in annual payments from the state's financial board, Local Government Assistance Corp., by the New York City to back the refunding bonds.
ACCESSION #
10454835

 

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