N.Y. Stadium Deals Get Council Nod

Whalen, Robert
April 2006
Bond Buyer;4/27/2006, Vol. 356 Issue 32369, p1
Trade Publication
The article reports on the approval given by the New York City's council on the plan to sell 1.4 billion dollars worth of bonds to finance construction of new ballparks. The New York City Industrial Development Agency was designated to dispose the bonds, in which the payment is backed by tax settlement or known as pilot debt. According to the plan, the New York Yankees was assigned for 866 million dollars and New York Mets for 528 million dollars of pilot debt.


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