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 2016.

The proposed new issuances total approximately $3.61 billion, including $1.63 billion scheduled for this month, $1.52 billion for May and $463 million for June. The second quarter of anticipated new issuances compares to past planned new issuances of approximately $3.82 billion during the first quarter of 2016 and $4.95 billion during the second quarter of 2015.

The State Comptroller's office chairs the Securities Coordinating Committee which was created by Gubernatorial Executive Order primarily to coordinate 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 its borrowing programs.

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

• Dormitory Authority of the State of New York – bond sales totaling up to $505 million of fixed rate tax-exempt bonds for the month of April and a bond sale of up to $23 million of fixed rate tax-exempt and taxable bonds for the month of May.
• Metropolitan Transportation Authority – a bond sale of up to $500 million in fixed rate tax-exempt bonds for the month of May.
• New York State Environmental Facilities Corporation – a bond sale of up to $350 million in fixed rate tax-exempt bonds for the month of June.
• New York State Housing Finance Authority – bond sales totaling up to $379 million in fixed and variable rate tax-exempt and/or taxable bonds for the month of April; bond sales totaling up to $144 million in variable rate tax-exempt and taxable bonds for the month of May; and a bond sale of up to $113.3 million in variable rate tax-exempt and taxable bonds for the month of June.
• New York City Transitional Finance Authority – a bond sale of up to $750 million in fixed rate taxable and tax-exempt bonds for the month of April.
• New York State Thruway Authority – a bond sale of up to $850 million in fixed rate tax-exempt bonds for the month of May.

Refundings or reofferings are currently being contemplated by: the City of New York, the Dormitory Authority of the State of New York, the Metropolitan Transportation Authority, the New York State Environmental Facilities Corporation and the Port Authority of New York & New Jersey.

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.