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Published on 8/13/2008 in the Prospect News Municipals Daily.

New York issuers to sell and refund $4.28 billion bonds

By Cristal Cody

Springdale, Ark., Aug. 13 - New York issuers expect to refund $1,772,600,000 outstanding bonds and sell $2,505,200,000 in bonds through September, according to an updated sale calendar from the New York State Comptroller's Securities Coordinating Committee.

During the week of Aug. 18, the New York State Thruway Authority plans to refund $230.7 million outstanding bonds and sell $339.2 million second general highway and bridge trust fund bonds.

Also that week, the Dormitory Authority of the State of New York expects to price $130 million fixed-rate bonds for SUNY Dormitories.

Later this month, the Thruway Authority intends to price $465.9 million bonds, including $99.9 million in refunding and $366 million in new money, the week of Aug. 25.

On Aug. 27, the Empire State Development Corp. plans to refund the $130 million series 2002B1 auction-rate securities.

Moving into September, the New York City Health and Hospitals Corp. intends to refund $190 million auction-rate bonds the week of Sept. 1.

The City of New York also plans another sale the week of Sept. 8 for $800 million general obligation bonds. The city sold $965 million in G.O. bonds last week.

On Sept. 23, the New York City Transitional Finance Agency is scheduled to price $700 million fixed-rate building aid revenue bonds.

Also in September, Dasny plans to convert and refund $142 million University of Rochester variable-rate bonds.

Other action in September includes plans from the New York State Housing Finance Agency to price $170 million variable-rate bonds for the 320 West 38th Street project, the Metropolitan Transportation Authority's $450 million refunding of variable-rate transit and commuter projects bonds and the Thruway Authority's $530 million refunding of CHIPS auction-rate bonds.


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