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Article: New York power agencies could sell $15 billion in debt.(Long Island Power Authority, New York Power Authority)
- Article from:
- The Bond Buyer
- Article date:
- December 6, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A pair of proposals by separate New York State agencies could unleash up to $15 billion in electric utility debt on the municipal market during the next several years.
The Long Island Power Authority would issue as much as $5 billion to purchase the privately owned Long Island Lighting Co.'s distribution network while the New York Power Authority would issue as much as $10 billion of tax-exempt debt over the next three years to acquire the high voltage transmission lines of the state's seven investor-owned utilities.
But New York State Assembly Speaker Sheldon Silver, who has potential veto power over both plans, said yesterday that he still has several ...