Tucked away between the lines of New York City's four-year financial plan are a number of proposals to restructure or lower debt service costs, including two proposed bond refundings of roughly $1 billion each that require a change in the state's constitution to be sold.

Although the refundings were not spelled out in the plan presented last Wednesday, Mark Page, deputy director and counsel to the city's Office of Management and Budget, on Friday confirmed that the city is contemplating these financings.

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