NYC-WTC_000195490

NYC 9/11 Public Portal Document

/ant issues FINANCING PROGRAM 1 schedule. snt plants, The City’s financing program projects $30.9 billion of long-term borrowing, excluding refunding, for the period of 2001 through 2005 to support the City ’s current capital program. Over 85 percent of the financing will be implemented through four bond issuing entities: the City, through its general obligation (GO) bonds, the New )cus might York City Transitional Finance Authority (TFA), the New York City Municipal Water Finance Authority (NYW) is applied and TSASC, Inc. Ih addition, the City will utilize the New York State Dormitory Authority (DASNY), the New ning their York City Industrial Development Agency (IDA) and the Jay Street Development Corp. (ISDC) to fund several capital initiatives.' The IDA will finance a portion of the costs for a new New York Stock Exchange (NYSE) building in downtown Manhattan through the issuance of bonds secured by City payments. The JSDC will issue lequacy of bonds secured by City rental payments to fund the construction of a court building at 330 Jay Street in Brooklyn. Also through firiaiicing lease arrangements, DASNY will issue bonds for the City’s court facilities program and the expansion and reconstruction of three hospital facilities. A portion of the Lincoln Center capital improvement project and a portion of certain stadium improvement costs may also be funded through the issuance of bonds by a conduit entity, secured by City payments. The annual financing amount enuring the plan period for each of the bond issuing entitles is listed in the table below. As shown, the City will issue approximately $12 billion of its GO bonds, which represents the largest share, 40 percent, of the total progfam. NYW’s annual'bonding amount will increase gradually from $1.3 billion in 2002 to $1.9 billion in 2005. the aggregate NYW financing during the plan period will account for approximately 26% of the total program. TSASC, Inc. will have an annual issue of about $630 million in each of the next three fiscal years. It is also assumed in this financing program that the TFA will fully utilize its bonding authorization of $ 11.5 billion by June 30, 2004.

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NYC-WTC_000195600