New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned sale of obligations for the state, New York City, and their major public authorities during the second quarter of 2014.

The proposed new issuances total approximately $2.2 billion, including $2.05 billion scheduled for this month and $145 million scheduled for June. The anticipated new issuances in the second quarter compare to past planned new issuances of $3.93 billion during the first quarter of 2014, and $1.8 billion during the second quarter of 2013.

The State Comptroller’s office chairs the Securities Coordinating Committee which coordinates the borrowing activities of the state, New York City and their respective public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to their borrowing programs.

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

• Dormitory Authority of the State of New York – bond sales of up to $20.6 million in taxable and tax-exempt fixed rate bonds in April.
• Environmental Facilities Corporation – a bond sale of up to $145 million in tax-exempt fixed rate bonds in June.
• Housing Finance Agency – a bond sale of up to $65 million in tax-exempt fixed rate bonds in April.
• Metropolitan Transportation Authority – a bond sale of up to $500 million in tax-exempt fixed rate bonds in April.
• New York City Housing Development Corporation – a bond sale of up to $7.7 million in tax-exempt fixed rate bonds in April.
• New York City Transitional Finance Authority – bond sales of up to $960 million in taxable and tax-exempt fixed and variable rate bonds in April.
• Port Authority of New York and New Jersey – a bond sale of up to $500 million in tax-exempt fixed rate bonds in April.

Refundings or reofferings are currently being contemplated by: the Environmental Facilities Corp., the City of New York, and the New York City Housing Development Corporation.

The schedule will be modified and updated in response to changes in program needs and market conditions. It is also contingent upon execution of all project approvals required by law. The schedule is released by the committee to assist participants in the municipal bond market. 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 Office of the State Comptroller.

The full forward calendar can be obtained at: www.osc.state.ny.us/pension/scccalendar.pdf.