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January 9, 2007


New York State Comptroller’s Office Announces
First Quarter 2007 Bond Sale Schedule


The Office of the New York State Comptroller 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 first quarter of calendar year 2007. The total tentative new money amount proposed going forward is up to $6.1 billion, including approximately $1.7 billion scheduled for January, approximately $2.6 billion scheduled for February, and approximately $1.8 billion scheduled for March. The first quarter anticipated issuance compares to past planned issuances of: $9.0 billion during the fourth quarter of calendar year 2006, and $5.7 billion during the first quarter of calendar year 2006.

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

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

  • Dormitory Authority of the State of New York – bond sales totaling up to $771 million in tax-exempt, fixed rate bonds in January; bond sales totaling up to $343 million in tax-exempt fixed rate and variable bonds in February; and a bond sale of up to $138 million in tax-exempt fixed rate bonds in March.
  • Empire State Development Corporation – a bond sale of up to $400 million in tax-exempt fixed rate bonds in February; and a bond sale of up to $350 million in tax-exempt and taxable fixed rate bonds in March.
  • Metropolitan Transportation Authority – a bond sale of up to $750 million in tax-exempt variable rate bonds in February.
  • New York City Educational Construction Fund - a bond sale of up to $51 million in tax-exempt fixed rate bonds in January.
  • New York City Municipal Water Finance Authority – a bond sale of up to $300 million in tax-exempt fixed rate bonds in February.
  • New York City Transitional Finance Authority – a bond sale of up to $600 million in tax-exempt fixed rate bonds in January; and a bond sale of up to $650 million tax-exempt fixed rate bonds in March.
  • New York State – a bond sale of up to $236 million in tax-exempt and taxable fixed rate bonds in March.
  • New York State Environmental Facilities Corporation – bond sales totaling up to $183 million in tax-exempt and taxable fixed rate bonds in January; and a bond sale of up to $525 million in tax-exempt fixed rate bonds in February.
  • New York State Housing Finance Agency – bond sales totaling up to $309.8 million in tax-exempt, fixed rate and variable rate bonds in February; and bond sales totaling up to $63.2 million in tax-exempt, fixed rate and variable rate bonds in March.
  • State of New York Mortgage Agency – bond sales totaling up to $90 million in tax-exempt fixed rate and variable rate bonds in January.
  • Thruway Authority – a bond sale of up to $333 million in tax-exempt fixed rate bonds in March.

Refundings are currently being contemplated during the fourth quarter by: the Dormitory Authority of the State of New York and the New York State Environmental Facilities Corporation.

The schedule will be modified and updated in response to changes in program needs and market conditions and is also contingent upon execution of all project approvals required by law. The schedule is released by the Committee to assist the investment community and 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. Click here for the full forward calendar.

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