N.Y.C. Moves Up $550M Issue To Cover Capital Programs Costs

McDonald, Michael
March 2003
Bond Buyer;3/27/2003, Vol. 343 Issue 31802, p1
Trade Publication
New York City is planning tosell 550 million dollars of bonds to reimburse expenditures made for capital programs through the city's general fund, which could come under increased pressure if the state government cuts local aid as expected. The tax secured bonds are being sold through the New York City Transitional Finance Authority to individual investors in a planned two-day retail order period Monday and Tuesday and to institutions Wednesday. The city sold multi-million dollar general obligation bonds in February 2003, in a deal that was lengthened by one day as a result of a new predatory lending law that could have precluded using some of the underwriting team.


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