The 34th Street Partnership, a New York City-based business improvement district, is postponing a tax-exempt bond issue slated to take place in the early fall, an official from the district confirmed.

The partnership, a nonprofit corporation that became effective in January 1992, would have been the second business improvement district in the city to issue tax-exempt bonds. In April, the Grand Central District Management Association issued $30 million in tax-exempt securities to improve a 50-block area in midtown Manhattan surrounding Grand Central Station.

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