FOR RELEASE:

DiNapoli Releases Bond Calendar for Second Quarter

Tentative Schedule Includes $6.2 Billion of Debt Sales During the 2nd Quarter of 2010

New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned public sale of obligations for the State, its major public authorities, the City of New York, and the City’s major public authorities during the second quarter of 2010.

The proposed new issuances total approximately $6.2 billion, including approximately $460 million scheduled for this month, approximately $2.8 billion scheduled for May, and approximately $2.9 billion scheduled for June. The second quarter of anticipated new issuances compares to past planned new issuances of approximately $4.8 billion during the first quarter of 2010.

The Office of the State Comptroller chairs the Securities Coordinating Committee which was created by Executive Order primarily to coordinate the borrowing activities of the State, the City and their respective public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to their borrowing programs.

The second quarter new money borrowings are expected to include the following:

• Dormitory Authority of the State of New York – bond sales totaling up to $95 million in tax-exempt fixed rate and variable rate bonds in April, bond sales totaling up to $1.53 billion in tax-exempt and taxable fixed rate bonds (including Build America Bonds or “BABs”) as well as tax-exempt variable rate bonds in May, and bond sales of up to $1.21 billion in tax-exempt and taxable fixed rate bonds (including BABs) as well as tax-exempt variable rate bonds in June.
• Environmental Facilities Corporation – a bond sale of up to $110 million in tax-exempt fixed rate bonds in April.
• Long Island Power Authority – a bond sale of up to $210 million in tax-exempt and taxable fixed rate bonds (including BABs) in May.
• Municipal Bond Bank Agency - a bond sale of up to $118 million in tax-exempt and taxable fixed rate bonds (including BABs) in May.
• New York City – a bond sale of up to $900 million in tax-exempt and taxable fixed and variable rate bonds (including the possibility of BABs or Qualified School Construction Bonds) in June.
• New York City Education Construction Fund – a bond sale of up to $55 million in tax-exempt and taxable fixed rate bonds (including BABs) in April.
• New York City Municipal Water Finance Authority - a bond sale of up to $400 million in tax-exempt and taxable fixed rate bonds (including BABs) in June.
• New York City Transitional Finance Authority – a bond sale of up to $900 million in tax-exempt and taxable fixed rate bonds (including BABs) in May, and a bond sale of up to $350 million in tax-exempt fixed rate bonds in June.
• New York State Housing Finance Agency – bond sales of up to $82.5 million in tax-exempt fixed or variable rate bonds in May.
• State of New York Mortgage Agency – a bond sale of up to $200 million in tax-exempt fixed rate bonds in April.

Refundings or conversions are currently being contemplated by: the Dormitory Authority of the State of New York, the Environmental Facilities Corporation, the Empire State Development Corporation, the Long Island Power Authority, and the New York State Housing Finance Agency.

The schedule will be modified and updated in response to changes in program needs and market conditions. It is also contingent upon execution of all project approvals required by law. The schedule is released by the Committee to assist participants in the municipal bond market. A new schedule is released every quarter and updated as necessary. The collection and release of this information by the Office of the State Comptroller is not intended as an endorsement of the proposed issuances it contains, many of which will be subject to approval by the Office of the State Comptroller.

The full forward calendar can be obtained at: www.osc.state.ny.us/pension/scccalendar.pdf.

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