New York City Mayor Rudolph W. Giuliani last week submitted to Gov. Mario M. Cuomo a list of nominees for the board of the New York State Municipal Assistance Corporation.
Giuliani nominated Abraham Biderman, executive vice president of Lipper & Co.; Ann Daly Printon, a former municipal bond trader who now manages her family's investments; and Thomas J. Tisch, a managing partner of FLF Associates, a private investment partnership.
In addition, Giuliani recommended that a current board member, Kenneth Bialkin, be reappointed. Bialkin is a partner in the New York law firm of Skadden, Arps, Slate, Meagher & Flom.
Nine members sit on the board, but there are three vacancies. Gov. Cuomo must approve the nominations and forward them to the state Senate for approval.
The Municipal Assistance Corporation, which has about $5 billion of outstanding debt, was founded in 1975 by the state during New York City's fiscal crisis. Until the early 1980s, the corporation sold debt on behalf of the city, which could not enter the capital markets because of its shattered credit. MAC continues to do refundings and also monitors and comments on the city's fiscal policies.
