WASHINGTON- Niagara Falls may be the first city in New York State to finance a major project using level principal and interest payments instead of front-loaded debt service, a city official said.

In late June, New York State enacted a law permitting municipalities to amortize their payments. Essentially, localities would repay debt as if it were similar to a mortgage, said Niagara Falls city administrator Thomas C. Lizardo.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.