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March 7, 2008

 

DiNapoli: New York to Sell $269 Million of G.O. Bonds

Competitive Offering to Feature Tax-Exempt and Taxable Securities

State Comptroller Thomas P. DiNapoli today announced the details of the sale of about $269 million of tax-exempt and taxable general obligation bonds. The bonds will be sold competitively on Thursday, March 13 using the BiDCOMP/Parity electronic bidding system.

The State will sell approximately $257.7 million of Series 2008A tax-exempt general obligation bonds and approximately $11.3 million of Series 2008B taxable general obligation bonds. The Series 2008A tax-exempt Bonds will mature over one to 30 years and the Series 2008B taxable bonds will mature over one to 10 years.

The net proceeds of the 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 Accelerated Capacity and Transportation Improvements of the Nineties, Clean Water/Clean Air, Environmental Quality 1986, Pure Waters, Park and Recreation Land Acquisition, and Rebuild and Renew New York Transportation bond acts.

The net proceeds of the taxable bonds will finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for Clean Water/Clean Air bond act purposes.

The Notices of Sale for the Series 2008A and 2008B bonds were published today in The Bond Buyer.

Click here to view a copy of the Preliminary Official Statement.

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