New York

New York City should start to build a surplus for fiscal 2012 close to the level just achieved, to deal with a projected $4.6 billion gap in 2013, according to New York State's Financial Control Board.

Nassau County, N.Y.'s state-appointed financial overseer sent the county back to the drawing board.

Republicans in New York City's Queens and Brooklyn boroughs nominated retired cable television executive Bob Turner to face Democrat David Weprin for the Ninth Congressional District seat vacated by Anthony Weiner.

Gov. Andrew Cuomo on Wednesday vetoed a bill that would have allowed school districts in New York State to issue new debt to cover pension payments.

Assured Guaranty Corp. won't seek to appeal a New York State court's ruling that it must honor coverage of defaulted debt issued by the Xenia Rural Water District in Iowa.

New York City on Tuesday announced details of its upcoming $775 million sale of taxable and tax-exempt new-money general obligation bonds, which it plans to issue in three subseries.

The Dormitory Authority of the State of New York plans to issue $762.7 million of general-purpose personal income tax revenue bonds Wednesday through negotiated bid.

But while New York Gov. Andrew Cuomo has received accolades for the property-tax cap — one of several political victories early in his first year in office — questions linger about its effect on counties, municipalities, and school districts.

The Democratic Party in New York has nominated Assemblyman and municipal bond banker David Weprin to fill the congressional seat vacated by Anthony Weiner.

New York State's recently approved property tax cap will likely put greater pressure on local finances and ratings, particularly of school districts, Moody's Investors Service said in a report Tuesday.

New York City's pension funds recorded investment returns of more than 20% in fiscal 2011, according to preliminary numbers Comptroller John Liu released on Tuesday.

The board of New York's Metropolitan Transportation Authority on Wednesday authorized, without debate, the negotiated sale of up to $500 million of tax-exempt Series 2011A transportation revenue bonds.

The New York City Council Wednesday passed a $66 billion fiscal 2012 budget that avoids thousands of teacher layoffs and shutting down fire stations.

New York has enacted the first-ever cap on local property taxes in the state. Gov. Andrew Cuomo signed the measure after the House and Senate approved it late Friday.

The New York State Tobacco Settlement Financing Corp. next week will sell $975.5 million of tobacco refinancing bonds to generate savings.

New York's Metropolitan Transportation Authority on Wednesday will remarket $347.7 million of dedicated tax fund variable-rate refunding bonds originally sold in 2008.

The New York City Transitional Finance Authority Wednesday will competitively bid $300 million of building aid revenue bonds, including $100 million of taxable qualified school construction bonds.

The Dormitory Authority of the State of New York will issue $260 million of Series 2011A lease revenue bonds on Tuesday through negotiated bid.

The Erie County Fiscal Stability Authority has agreed to borrow $98 million to help Erie County Medical Center Corp. build a nursing home at its campus on Buffalo’s East Side.

The Nassau County Interim Finance Authority Thursday hired accounting firm Grant Thornton LLP to review the Long Island, N.Y., county's troubled finances.