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November 30, 2011

 

Comptroller DiNapoli Announces Sale of General Obligation Bonds

Competitive Offering to Feature Tax-Exempt and Taxable Bonds



State Comptroller Thomas P. DiNapoli today announced the details of the competitive sale scheduled for Tuesday, Dec. 6, 2011 of two series of tax-exempt and taxable General Obligation Bonds totaling approximately $317.1 million for transportation and environmental purposes. The Series 2011E Tax-Exempt Bonds and the Series 2011F Taxable Bonds total approximately $285.9 million and $31.2 million respectively.

The net proceeds of the Series 2011E 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 Water, Rebuild New York Through Transportation Infrastructure Renewal and Rebuild and Renew New York Transportation bond acts. The Series 2011E Tax-Exempt Bonds will mature over 30 years.

The net proceeds of the Series 2011F 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, Environmental Quality 1972 and Rebuild and Renew New York Transportation bond acts. The Series 2011F Taxable Bonds will mature over 10 years.

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 December 6, 2011 unless postponed, as set forth in the Notices of Sale published in The Bond Buyer on November 30, 2011. The Bonds will be dated the date of delivery, expected to be December 15, 2011.

A copy of the Preliminary Official Statement which contains additional information regarding this bond sale is available at https://delivery.i-dealprospectus.com/?id=%3e%3b8%3a%3a%2f%3a7%405%3a.


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