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February 18, 2010



New York to Competitively Sell $448 Million of G.O. Bonds

State Comptroller Thomas P. DiNapoli today announced the details of the competitive sale of approximately $448 million of tax-exempt, taxable and Build America General Obligation Bonds, scheduled to be priced on Thursday, February 25, 2010.

The State will sell three series of general obligation bonds. The Series 2010A Tax-Exempt Bonds total approximately $211.3 million, the Series 2010B Taxable Bonds, $51.3 million and the Series 2010C Taxable Build America Bonds, $185.7 million. The Series 2010A Tax-Exempt Bonds and the Series 2010C Taxable Build America Bonds will mature over 30 years and the Series 2010B Taxable Bonds will mature over 10 years.

The net proceeds of the Series 2010A Tax-Exempt Bonds will finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for projects associated with purposes authorized by the Clean Water/Clean Air, Environmental Quality 1972, Environmental Quality 1986, Pure Water and Rebuild and Renew New York Transportation bond acts.

The net proceeds of the Series 2010B Taxable Bonds will finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for the Clean Water/Clean Air and Rebuild and Renew New York Transportation bond acts.

The net proceeds of the Series 2010C Taxable Build America Bonds will finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for the Rebuild and Renew New York Transportation bond act.

The Bonds will be awarded pursuant to electronic competitive bidding to be held via BiDCOMP/Parity on behalf of the Comptroller of the State of New York on February 25, 2010 unless postponed, as set forth in the Notice of Sale published in The Bond Buyer on February 18, 2010.

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