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Article: N.Y. MTA to Sell $600M; Capital Plan Heading to Review Board.(The Regions)
- Article from:
- The Bond Buyer
- Article date:
- September 22, 2009
CopyrightCOPYRIGHT 2009 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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Byline: Ted Phillips
New York's Metropolitan Transportation Authority announced yesterday at a finance committee meeting that it plans to sell up to $600 million of bonds next month.
The committee also approved sending the authority's $28.08 billion, five-year capital program to a review board, pending full board approval.
The MTA plans to come to market with at least $475 million of transportation revenue bonds next month though finance director Patrick McCoy said that the size of the deal could be increased to $600 million. The structure of the deal and whether to sell it as taxable Build America Bonds has not yet been decided.
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