TITLE

N.Y.'s LGAC OKs Payments to Secure $2.5B MAC Refinancing

AUTHOR(S)
McDonald, Michael
PUB. DATE
May 2004
SOURCE
Bond Buyer;5/26/2004, Vol. 348 Issue 31892, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that New York City's plan to sell $2.5 billion of MAC refinancing bonds cleared a major hurdle when the board of the state's Local Government Assistance Corp. (LGAC) approved the $170 million in annual payments needed to secure the debt. Need for the state to make an annual $170 million appropriation in order for the city to get the payment from LGAC.
ACCESSION #
13224375

 

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