N.Y.'s Big MAC Agreement City and State Pact Clears Way for $2.5B Deal

McDonald, Michael
September 2004
Bond Buyer;9/23/2004, Vol. 349 Issue 31975, p1
Trade Publication
Reports on the agreement of New York City to pay back millions of state appropriation in order to ensure support for its plan to refinance the debt of Municipal Assistance Corp. (MAC). Terms of the arrangement; Postponement of the cost of the first appropriation until fiscal 2006; Decision of the Legislature to pass the MAC refinancing bill in 2003.


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