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Article: Oyster Bay, N.Y., to Sell $60M for Capital Improvements.
- Article from:
- The Bond Buyer
- Article date:
- January 5, 2007
- Author:
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The Long Island town of Oyster Bay, N.Y., plans to competitively sell $60 million of tax-exempt bonds Monday to pay off some outstanding notes and provide $10.9 million for new projects.
The serial bonds mature from 2008 through 2020. In addition to financing new projects, the town will use proceeds to augment a $5.9 million appropriation to pay off the debt remaining from a $55 million note sale last January.
The town's most recent borrowings have financed various initiatives, including $1 million for building reconstruction; $12 million for improvements and conservation of parks and beaches; $8.4 million for the Save Environmental Assets fund, or SEA, ...