N.Y.'s LGAC OKs Payments to Secure $2.5B MAC Refinancing
- THE ROLE OF FEDERAL TAXATION IN THE SUPPLY OF MUNICIPAL BONDS: EVIDENCE FROM MUNICIPAL GOVERNMENTS. Metcalf, Gilbert E. // National Tax Journal;Dec91 Part 1, Vol. 44 Issue 4, p57
This paper considers ways in which federal tax policy affects municipal asset and debt holdings. The tax treatment of municipal bonds and income creates an arbitrage opportunity for communities to issue tax-exempt debt and invest in financial assets. I present evidence that suggests the rules in...
- 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...
- Court Bars N.Y. City's MAC Deal. Braun, Martin Z. // Bond Buyer;8/14/2003, Vol. 345 Issue 31699, p1
Reports that the New York-based State Local Government Assistance Corp. obtained a restraining order that prevents New York City from selling bonds to refinance debt left over from the city's fiscal crisis during the decade of 1970. Implication of the court order; Plans of the judge to hold a...
- High Court Clearance. McDonald, Michael // Bond Buyer;5/14/2004, Vol. 348 Issue 31884, p1
Reports on the New York high court's ruling against the Local Government Assistance Corp.'s challenge to the state's Municipal Assistance Corp. (MAC) Refunding Act. New York City's plan to finance for another 30 years the $2.5 million in MAC debt that is due to mature in 2008; Impact of the...
- Munis Little Changed as Market Awaits Non-Farm Numbers. Curran, Bill // Bond Buyer;3/10/2006, Vol. 355 Issue 32336, p2
The article examines the status of municipal bonds in the United States as the market waits for the February 2006 non-farm payrolls report. According to traders, intermediate paper was slightly weaker during the midday of March 9 but improved by the end of the session. The author also examines...
- Munis Continue to Weaken on Treasury Performance, $8 Billion in New Issues. Johnson, Anastasija // Bond Buyer;3/30/2004, Vol. 347 Issue 31852, p2
Focuses on the weak performance of municipal bonds in the United States during the March 30, 2004 session. Amount of new issues in the market; Total worth of Florida-based Miami-Dade County's aviation revenue and revenue refunding bond offerings on behalf of Miami International Airport.
- MARKET SNAPSHOT: Monday, March 29. // Bond Buyer;3/30/2004, Vol. 347 Issue 31852, p2
Presents a chart depicting the performance of the municipal bond market in the United States during the March 29, 2004 trading session.
- Muni Buyers Show Up Big For California. Saskal, Rich; Chang, Helen // Bond Buyer;5/6/2004, Vol. 348 Issue 31878, p1
Reports on California's economic recovery bond offering in 2004. Strong demand for the bonds; Expected total sale of the bonds; Marketing efforts for the bonds; Reduction of yields on several maturities before the final pricing.
- Jobs Data Expectations Drive Up Municipal Bond Indexes. Fine, Jacob // Bond Buyer;6/4/2004, Vol. 348 Issue 31898, p52
Reports that most of "The Bond Buyer" newspaper's weekly municipal bond yield indexes rose at the end of May 2004 as expectations mounted that the release of the May employment report on June 2004 will be favorable and prompt the Federal Reserve to raise short-term rates later in June 2004. Key...