New York

New York Gov. Andrew Cuomo's proposal to allow state counties to renew their sales tax rates without state legislature approval would be a financial positive for the counties, observers said.

New York State's cities, towns and school districts are facing unique challenges, according to a Wells Fargo Securities report.

Public finance officials and municipal bond analysts recalled Ed Koch, who died Friday at 88, as a passionate mayor who ran New York City as it emerged from the fiscal abyss.

New York Gov. Andrew Cuomo may be backtracking from a commitment to privatize the Long Island Power Authority, which holds $6.9 billion in short-term notes and long-term bonds.

New York's Metropolitan Transportation Authority must consider the age of its subway system and a strained budget when considering technical enhancements, officials said.

New York's MTA said it saved $310 million by terminating three leveraged lease agreements that exposed itself to downgraded bond insurer Assured Guaranty.

New York Comptroller Thomas DiNapoli and Syracuse Mayor Stephanie Miner voiced skepticism of Gov. Andrew Cuomo's plan to reducing local pension contributions.

Mayor Michael Bloomberg introduced a $70.1 billion preliminary budget for New York City, while an impasse with the teachers union hovers over city finances.

New York's Metropolitan Transportation Authority achieved about $1 billion in present-value savings from its 2012 refundings, according to officials.

Officials at New York's Metropolitan Transportation Authority are studying the use of technology to minimize subway commuter deaths, but admit it won't come cheap.

Moody's Investors Service downgraded the College of New Rochelle's bonds to Ba1 from Baa3.

Moody's Investors Service downgraded Poughkeepsie, N.Y.'s debt to Baa2 from A2.

Kroll Bond Rating Agency may make little headway into breaking up the "big three," but it may trigger changes in operations by Moody's Investors Service, Standard & Poor's and Fitch Ratings, according to a municipal analyst.

The New York Thruway Authority has started the bonding process for a new Tappan Zee bridge.

The Treasury and IRS have sent two separate letters to Sens. Lautenberg and Nelson regarding concerns over available financing for housing damaged by Hurricane Sandy and tax guidance on political subdivisions that would affect community development districts in Florida.

New York City Comptroller John Liu launched Checkbook NYC 2.0, a website that he said opens the door into how the city spends its $70 billion annual budget.

Gov. Andrew Cuomo's proposed $142.6 billion budget for 2013-14 included some plusses for New York City and the Metropolitan Transportation Authority.

Moody's Investors Service placed tobacco settlement revenue bonds of issuers in 17 states and two territories under review with direction uncertain because of legal settlement announced in December. The action affects $20.5 billion of debt.

In his proposal of a budget Tuesday, New York Gov. Andrew Cuomo proposed a route for localities to lower pension costs.

The Port Authority of New York and New Jersey is selling $350 million of bonds subject to the Alternative Minimum Tax Wednesday.