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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

March 04, 2015, Contact: Press Office (518) 474-4015

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 March 10, 2015 of tax-exempt and taxable New York State General Obligation Bonds totaling approximately $145.1 million for new money transportation and environmental purposes. The Series 2015A Tax-Exempt Bonds and the Series 2015B Taxable Bonds total $139.5 million and $5.6 million, respectively.

The net proceeds of the Series 2015A Tax-Exempt Bonds will finance projects authorized by the following voter-approved bond acts: Clean Water/Clean Air (1996), Environmental Quality (1986), Environmental Quality (1972), Rebuild New York Through Transportation Infrastructure Renewal (1983), and Rebuild and Renew New York Transportation (2005). The Series 2015A Tax-Exempt Bonds will mature over 30 years.

The net proceeds of the Series 2015B Taxable Bonds will finance projects authorized by the following voter-approved bond acts: Clean Water/Clean Air (1996), Environmental Quality (1986), and Rebuild and Renew New York Transportation (2005). The Series 2015B Taxable Bonds will mature over 10 years.

Dependent upon market conditions, the state may also sell General Obligation Refunding Bonds. The Series 2015C Tax-Exempt Refunding Bonds total approximately $180.3 million and would mature over 20 years. The net proceeds of the Series 2015C Tax-Exempt Refunding Bonds would provide funds to refund certain outstanding general obligation bonds of the state to reduce the state’s debt service costs. 

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 March 10, 2015 unless postponed, as set forth in the Notices of Sale published in The Bond Buyer on March 4, 2015. The bonds will be dated the date of delivery, expected to be March 19, 2015.

A copy of the Preliminary Official Statement which contains additional information regarding this bond sale is available.

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