Dasny approves $3.7 billion of refunding and state personal income tax revenue bond program bonds

By Sheri Kasprzak

New York, May 23 - The Dormitory Authority of the State of New York gave the green light to $3.7 billion of New York State personal income tax revenue bonds program bonds, said a statement from the authority released Wednesday.

The deal could include up to $2 billion of refunding bonds to refund certain maturities of the series 2000A-B Metropolitan Transportation Authority state service contract bonds and certain maturities of various personal income tax revenue bonds issued by Dasny and the Empire State Development Corp.

The offering could also include $1.7 billion of general purpose New York State personal income tax revenue bonds, which will be used to fund capital projects at the State University of New York, the City University of New York and SUNY Upstate Community College facilities.

The refunding bonds will be sold through lead manager Goldman, Sachs & Co. The general purpose bonds will be sold on either a competitive or negotiated basis.

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