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Empire State Development, N.Y., plans $709.3 million PIT revenue bonds
By Sheri Kasprzak
New York, Dec. 6 - The Empire State Development Corp. is set to price $709.295 million of series 2011 state personal income tax revenue bonds on Dec. 13, according to a preliminary official statement.
The deal includes $551.9 million of series 2011A bonds and $157.395 million of series 2011B taxable bonds.
The bonds will be sold competitively with Public Financial Management Inc. as the financial adviser.
The 2011A bonds are due 2012 to 2041, and the 2011B bonds are due 2012 to 2021.
Proceeds will be used to fund state-supported activities, economic development projects and other projects related to state facilities.
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