Staff members working for New York City Comptroller Alan G. Hevesi are finishing work on a policy that will determine when the city should competitively bid its general obligation bonds.

At the moment, the city sells the vast majority of its debt through negotiation, where a group of hand-picked underwriters sell securities by negotiating prices with investors.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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