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Dormitory Authority Pats Itself on the Back for Doing So Well for New York State
Posted on Saturday, December 25 @ 10:00:00 EST by jfbailey
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WPCNR MYSTERIES OF ALBANY. December 24, 2004: Adding further evidence of the fiduciary health of the Dormitory Authority of New York State is an advance copy of a news release, obtained by WPCNR, scheduled for release in January. It points out that the dormitory authority appears to be a darling of the investment banking set. The Dormitory Authority was Number Three in Municipal Bonds in 2003 and issued $6 Billion in bonds that year, bonding more than any other issuer in the country. The flushness of the Dormitory Authority deepends the mystery of why the Authority strung out Westchester County for help in rebuilding the Westchester County Courthouse last year at considerable pain to Westchester taxpayers, and why St. Agnes was deemed forecloseable. Who made that decision?
Here is the copy of that release:
FOR RELEASE: Immediate, Monday, January 5, 2004
DASNY No. 3 in Bond Sales The Dormitory Authority was the third-largest issuer of municipal bonds for the year 2003, according to The Bond Buyer, a financial newspaper.
With bond issues totaling more than $6 billion, the Dormitory Authority trailed on the states of Illinois and California in volume.
However, the Dormitory Authority went to market more often than any other issuer – with 48 issues. New York City was a distant second with 28 issues.
Rank Issuer Amount Issues 1 Illinois (State of) $11,573.0 4 2 California (State of) 7,868.6 5 3
Dormitory Authority of the State of New York 6,039.0 48 4 New York City 5,909.7 28 5
Golden State Tobacco Securitization Corp., Calif. 5,572.3 3 6 New York Tobacco Settlement Finance Corp. 4,551.1 10 7
Massachusetts (Commonwealth of) 2,983.0 6 8 Connecticut (State of) 2,787.8 26 9
Los Angeles Unified School District, Calif. 2,739.2 4 10 Wisconsin (State of) 2,585.5 9
For more information, contact Press Officer Claudia Hutton at (518) 257 3382, or CHutton@dasny.org.
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