LGAC Votes to Block $2.6B N.Y.C. MAC Deal

Braun, Martin Z.
August 2003
Bond Buyer;8/07/2003, Vol. 345 Issue 31694, p1
Trade Publication
Reports that the New York Local Government Assistance Corp. (LGAC) has unanimously voted to block the controversial multi-billion dollar refinancing of debt issued during New York City's fiscal crisis in the mid-1970s. Resolution approved by the LGAC board; Provisions of the resolution; Member of the board.


Related Articles

  • Bank of N.Y., Mayors, and Silver Choose Sides in $2.5B MAC Fight. McDonald, Michael // Bond Buyer;4/7/2004, Vol. 348 Issue 31858, p3 

    Reports that the Bank of New York has intervened in New York's highest court on behalf of Local Government Assistance Corp. bondholders in the battle over New York City's proposed MAC refinancing while the New York State Conference of Mayors and state Assembly Speaker Sheldon Silver have filed...

  • Assessment and recommendations.  // OECD Economic Surveys: Italy;Jun2009, Vol. 2009 Issue 8, p11 

    The article offers an assessment as well as recommendations related to the economy of Italy as of June 2009. It says revenues could be affected by reduced economic activity and employment. Also noted is the significance of refinancing approximately one sixth of existing public debt annually....

  • France: Measures taken in France in relation to the financial Crisis and accepted by the Commission. Coutrelis, Nicole // European State Aid Law Quarterly;Jun2009, Vol. 8 Issue 2, p116 

    The article reports on the new remedial measures imposed by the French government to address financial crisis. It notes that the government adopted two series of measures that are acceptable by the Commission Communications such as the banking sector and undertakings. The scheme in the banking...

  • Benefits in the way the credit crunch crumbles.  // Money Management;10/16/2008, Vol. 22 Issue 39, p4 

    The article reports on the data released by the Lonsec Income Sector Review Mortgages, determining that the credit crunch may have helped rather than obstruct the mortgage lending sector. The reports suggests that the crisis has changed the mortgage lending landscape that are beneficial for...

  • Favoured markets--it's all in the timing. Blyth, Caroline // Public Private Finance;Mar2003, Issue 71, p32 

    In the face of the current global financial crisis, with interest rates down, precarious corporate debt levels and further economic declines possible, the outlook for professionals involved in the financing of public infrastructure work looks positive while the government engages actively in...

  • Germany: Germany's Response to the Financial and Economic Crisis - an Overview. Arhold, Christoph // European State Aid Law Quarterly;Jun2009, Vol. 8 Issue 2, p118 

    The article reports on the new remedial measures in Germany which is designed to fight the financial crisis. It notes that the German government offers scheme such as the German Financial Market Stabilisation Fund Act, Acceleration Act and Amendments to the German Banking Act and Insolvency...

  • N.Y.C. Plans MAC Deal In Early June. McDonald, Michael // Bond Buyer;5/25/2004, Vol. 348 Issue 31891, p1 

    Reports on the plan of New York City government to sell the first half of its $2.5 billion MAC refinancing through the Sales Tax Asset Receivable Corp. in June and July of 2004. Review of Mayor Michael Bloomberg's proposed financial plan through hearings; Legal challenge filed by New York...

  • Policy May Outweigh Rate Influence on Refinancing.  // Origination News;Jun2011, Vol. 20 Issue 9, p4 

    The author reflects on the impact of government policies and legislations on the influence of rates in projecting refinancing volumes in the U.S.

  • Who's Snubbing The Refi Boom? O'Leary, Christopher // Investment Dealers' Digest;7/28/2003, Vol. 69 Issue 30, p30 

    Reports on the effects of refinancing in the debts market of the U.S. Issuers taking a firm stand against refinancing; Issuances in the transportation sector; Possible reasons for refinancing according to debt bankers.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics