The New York State Dormitory Authority will not issue $50 million in mini bonds in an upcoming transaction as state budget officials continue to evaluate the deal's structure.

The transaction would have marked the first sale of small denomination state debt since Gov. Mario M. Cuomo signed a November 1992 executive order creating a "New York State Savings Bond Program." The program is intended to make available tax-exempt bonds to retail investors who often cannot afford to purchase state bonds sold at much higher denominations.

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