MUNICIPAL FINANCE
CHIEF Albert Moncure, Jr.
DEPUTY Olivia O’Neill
The Municipal Finance Division serves as counsel to the City on all bond transactions. New York City is one of the
largest issuers of municipal bonds in the country. The proceeds of its debt issuances ?nance capital projects that
impact virtually every aspect of City life. The City issues debt through its general obligation bonds and through
authorities and local development corporations. Additionally, debt is issued by State agencies on behalf of the City.
Each year, the Division oversees billions of dollars in ?nancial transactions.
Bonds for Education
While proceeds from City general obligation bond offerings are used to help finance school construction, in 2010 the Division also
participated in certain issuances focusing particularly on education.
New York City Educational Construction Fund Revenue Bonds, 2010 Series A (ECF Bonds) - The City’s Educational
Construction Fund (ECF) was established to facilitate the construction of public school buildings in combination with private
construction projects. Nearly $54 million of ECF Bonds was issued as federally taxable Build America Bonds, pursuant to the
American Recovery and Reinvestment Act of 2009 (ARRA). The bonds will fund the development of a combined structure
housing new facilities for the High School for Art and Design and Public School 59, as well as a private commercial and
residential facility. For a portion of the bonds, rent payments by the City will function as debt service.
Building Aid Revenue Bonds (BARBs) - The New York City Transitional Finance Authority (TFA) issued $350 ??????????? ??????)???I????? ?????????????U??????????Q???????????????????????????????????????????????
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