News
Public Finance Wrap-Up: January 2020
NYC Releases Financial Plan Update
New York City released the Mayor’s Preliminary Executive Budget and Financial Plan Update on January 16, laying out Fiscal Years 2020-2024. The quarterly release includes information on capital budgeting and planning, as well as revenue and expenditure projections. Also included in the Financial Plan is the City’s five-year plan for funding its capital commitments through bond issuances. View the Financial Plan.
Underwriter Request for Proposals Distributed
On January 8, the City of New York, the New York City Transitional Finance Authority, and the New York City Municipal Water Finance Authority distributed a Request for Proposals (RFP) for firms to serve as Book-Running Senior Managers or Co-Managing Underwriters. The previous RFP process occurred in 2016.
NYC Bond History – For Those Who Prefer Paper
New York City’s Department of Records and Information Services was established in 1977. It provides public access to records and information about New York City government.
A historical view of the Hall of Records at 31 Chambers Street (from the New York Public Library)
If you long for the days of clipping paper coupons from bonds, you’re in luck. Original redeemed vintage New York City bonds and stock certificates issued from the 1920s to 1980s are available for purchase from the Department of Records and Information Services as artifacts for display.
Looking Ahead
- The New York City Municipal Water Finance Authority plans to sell $465 million of tax-exempt bonds via negotiated sale on February 5, with a priority order period for individual investors on February 4. Proceeds from the sale will be used to fund capital projects and to pay outstanding bonds that are being refunded. Read the press release.
- New York City plans to sell $1.55 billion of tax-exempt and taxable General Obligation bonds via negotiated and competitive sales the week of February 10.
As always, we appreciate your interest in New York City bonds.
Marj Henning
Deputy Comptroller for Public Finance