New York State, its authorities, and New York City will issue a total of more than $4.22 billion of debt securities during the fourth quarter of the year, the state comptroller's office said this week.
According to the comptroller's quarterly report on state bond issuance, New York City will sell about $700 million of general obligation bonds in November. Officials representing Mayor Rudolph Giuliani and New York City Comptroller Alan Hevesi will soon announce the members of the city's GO syndicate for the next year.
For fiscal 1995, which ends June 30, 1995, the city plans to issue $2.75 billion of GOs and $1.2 billion of Water Authority debt.
The New York City Water Finance Authority and the city's Health and Hospitals Corp. do not plan to issue bonds in the fourth quarter, which began Oct. 1, according to the comptroller's report. The city is also in the process of selecting firms to serve on the Water Authority syndicate.
The report, which is produced by the state Securities Coordinating Committee, also said that the state plans to complete a refunding of its GO debt sometime during the fourth quarter. For months now, the state has delayed the refunding because of poor market conditions.
As for new money, the state will sell $75 million of certificates of participation in November and $80 million of bonds in December.
The Local Government Assistance Corp. will sell $315 million of bonds in December. The Metropolitan Transportation Authority will sell $300 million of bonds in November.
The New York State Dormitory Authority will sell five issues in October totaling $227 million. The authority will sell $50 million of debt in November and $63 million in December.
The Housing Finance Agency will sell two issues in October totaling $36 million, three issues totaling $87 million in November, and one issue of $18 million in December.
The Medical Care Facilities Finance Agency will sell two issues in October totaling $732 million, two issues in November totaling $168 million, and three issues in December totaling $79 million.
The New York State Thruway Authority will issue $250 million of bonds in October. The Environmental Facilities Corp. will sell two issues totaling $600 million in November.
The Energy Research and Development Authority will sell $50 million of bonds in October and $75 million in December. The Urban Development Corp. will issue $140 million of bonds in November.
The Housing Development Corp. will sell two issues totaling $76 million in December. The State of New York Mortgage Agency will sell $102 million of debt in November.
In addition, several state authorities are considering refunding issues. They are: the Medical Care Facilities Finance Agency, the Dormitory Authority, the Energy Research and Development Authority, and the Urban Development Corp.
The refundings must receive statutory approval and will be completed if market conditions permit.
The comptroller's report said the following authorities do not plan to issue debt during the fourth quarter: the Power Authority, the Triborough Bridge and Tunnel Authority, the Job Development Authority, the Municipal Assistance Corp., and the Battery Park City Authority.