Monday's front-page story about the New York State budget included a reference to New York City's previous issuance of bond anticipation notes. The city's Office of Management and Budget says in the past the city has only issued revenue anticipation notes and tax anticipation notes. The $2.4 billion of cash-flow notes the city plans to sell in fiscal 2010 will also be Rans or Tans.
Clarification
April 15, 2009, 1:00 a.m. EDT 1 Min Read