New York

Nassau County, N.Y., could have a serious cash problem by the end of October unless it finalizes a budget by then, the chairman of a state-appointed oversight panel said.

New York City's Transitional Finance Authority plans to sell $750 million of future tax-secured subordinated bonds through negotiated bid on Wednesday, after a one-day retail period.

Bronx Parking Development Co. LLC, which operates the financially troubled parking garages near New York's Yankee Stadium, withdrew $2.3 million from its debt service reserve fund to make a bond payment due Oct. 1, according to a statement from trustee US Bank NA.

Nassau County, N.Y., is establishing steps to improve its system of residential assessments, which in the past has forced the county to engage in costly borrowing.

New York State Comptroller Thomas DiNapoli announced a tentative schedule for the planned public sale of obligations for the state, New York City, and their major public authorities during the fourth quarter of 2011.

While Moody's Investors Service cited multiple years of operational decline and three additional fiscal years of budget gaps in giving Yonkers, N.Y., a multi-notch downgrade, a spokesman for the city also blamed a new state law.

Standard & Poor’s raised its rating on Cortland, N.Y.’s general obligation debt to BBB-plus from BBB, based on its assessment of the city’s estimated performance for fiscal 2010, coupled with structural changes.

The Port Authority of New York and New Jersey Board of Commissioners advanced a capacity planning study that will deal with the five airports under its jurisdiction.

New York City sold $739 million of taxable and tax-exempt new money and reoffered general obligation bonds last week.

The capital program is the "front and center challenge" for New York's Metropolitan Transportation Authority, outgoing chairman Jay Walder said Wednesday.

The Port Authority of New York and New Jersey has some tailwinds at its back Tuesday when it sells a record $1 billion of taxable 40-year bonds to finance World Trade Center reconstruction.

An ambitious proposal for a hotel and conference center adjacent to the new Yankee Stadium would require demolition of an underused parking garage that helps back a troubled parking revenue bond deal.

The Dormitory Authority of the State of New York has approved $1.5 billion in financing for education and health care.

The Hudson Yards Infrastructure Corp. expects to price $1 billion of new- money bonds the week of Oct. 17 to benefit the extension of the No. 7 subway line in New York City’s transit system from its current terminus on Eighth Avenue to the Hudson Yards redevelopment area.

Revenues for the first five months of fiscal 2011-12 are $3.3 billion higher than last year, but remain $75.5 million below projections for an updated financial plan that’s operating on a “razor-thin margin,” according to New York Comptroller Tom DiNapoli’s cash report for August.

New York City plans to issue $650 million of new-money general obligation bonds next week, followed by additional transactions in October to restructure its variable-rate portfolio.

The New York City Municipal Water Finance Authority sold $451 million of second-resolution, fixed-rate tax-exempt bonds in its first-ever competitive sale.

Raudline Etienne resigned as chief investment officer of the New York State Common Retirement Fund, a position she has held since March 2008.

Nassau County Executive Edward Mangano has submitted a $2.6 billion budget for fiscal 2012 while a New York State-appointed oversight board continues to cast a watchful shadow.

Nassau County Executive Edward Mangano late Wednesday submitted a $2.6 billion budget for 2012 that eliminates a $310 million deficit and lays off more than 1,000 workers.