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New York State Comptroller Announces
First Quarter 2006 Bond Sale Schedule

The Office of the New York State Comptroller today announced a tentative schedule for the planned public sale of obligations for the State, its major public authorities, the City of New York and the City’s major public authorities during the first quarter of calendar year 2006.

The total tentative new money amount proposed going forward is up to $5.7 billion, including $1.3 billion scheduled for January, $1.6 billion scheduled for February and $2.8 billion scheduled for March. The first quarter anticipated issuance compares to past planned issuances of: $5.3 billion during the fourth quarter of calendar year 2005, and $4.4 billion during the first quarter of calendar year 2005. Five percent of the proposed new money is expected to be issued by the State, sixty-nine percent by public authorities of the both the State and the City of New York and the remaining twenty-six percent is attributable to issuances solely by the City.

The Comptroller chairs the Securities Coordinating Committee which was created by Executive Order primarily to coordinate the borrowing activities of its members. All borrowings are scheduled at the request of the individual public authorities and New York City and are completed pursuant to their borrowing programs.

The first quarter new money borrowings are expected to include the following:

City of New York – bond sales of up to $150 million in tax-exempt variable rate bonds in January; up to $675 million in tax-exempt fixed rate bonds in February; and a bond sale of up to $675 million in tax-exempt fixed rate bonds in March.
Dormitory Authority of the State of New York – bond sales totaling up to $249.5 million in tax-exempt fixed rate and variable rate bonds in February; and bond sales of up to $451 million in tax-exempt fixed rate bonds in March.
Empire State Development Corporation – bond sales up to $166 million in taxable and tax-exempt fixed rate bonds in March.
Long Island Power Authority – a bond sale of up to $100 million in tax-exempt fixed rate and/or variable rate bonds in March.
Metropolitan Transportation Authority – a bond sale of up to $450 million in tax-exempt variable rate bonds in January; and bond sales of up to $550 million in tax-exempt fixed rate bonds in March.
New York City Housing Development Corporation – a bond sale of up to $2.3 million in taxable and/or tax-exempt variable rate bonds in February; bond sales totaling up to $115.1 million in tax-exempt variable rate bonds in March.
New York City Municipal Water Finance Authority – a bond sale of up to $250 million in tax-exempt fixed rate bonds in January; and a bond sale of up to $380 million in tax-exempt fixed rate bonds in February.
New York State – a bond sale of up to $279 million in tax-exempt fixed rate bonds in March.
New York State Environmental Facilities Corporation – bond sales of up to $284 million in taxable and tax-exempt fixed rate bonds in January.
New York State Housing Finance Agency – a bond sale of up to $2.8 million in tax-exempt fixed rate bonds in January; bond sales totaling up to $194.2 million in tax-exempt fixed rate bonds, as well as taxable and tax-exempt variable rate bonds in February; and up to $139.5 million in tax-exempt fixed rate bonds, as well as taxable and tax-exempt variable rate bonds in March.
New York State Thruway Authority: a bond sale of up to $300 million in tax-exempt fixed rate bonds in March.
Port Authority of New York & New Jersey: a bond sale of up to $200 million in tax-exempt fixed rate bonds in January.
State of New York Mortgage Agency – a bond sale of up to $100 million in tax-exempt fixed rate bonds in February.
Refundings are currently being contemplated during the first quarter by: the Dormitory Authority of the State of New York, Empire State Development Corporation, Long Island Power Authority, New York City Housing Development Corporation, New York City Municipal Water Finance Authority, New York Power Authority, and the Port Authority of New York & New Jersey.

The Comptroller said the schedule will be modified and updated in response to changes in program needs and market conditions and is also contingent upon execution of all project approvals required by law. The schedule is released by the Committee to assist the investment community and a new schedule is released every quarter and updated as necessary.

The collection and release of this information by the Office of the State Comptroller is not intended as an endorsement of the proposed issuances it contains, many of which will be subject to approval by the Comptroller.
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http://www.osc.state.ny.us/pension/scccalendar.pdf