New York

New York’s Metropolitan Transportation Authority projected that lower returns on pension fund investments would widen out-year budget gaps, officials announced during a budget presentation Wednesday.

New York’s Metropolitan Transportation Authority tabled the selection of a new underwriting syndicate after a board member questioned the choices at a finance committee meeting Monday.

Silverstein Properties Inc. could use up to $200 million of tax-exempt recovery zone facility bonds to help finance office towers at the World Trade Center site, the developer and deal participants said Monday.

When Adelphi University in Long Island, N.Y., goes to market this week with $25 million of tax-exempt bonds, it will use a resurrected conduit issuer to get around the lack of industrial development agency financing.

Some of the people named to New York Governor-elect Andrew Cuomo’s transition team on Thursday are familiar names to the municipal bond industry.

The New York Municipal Bond Bank Agency plans to market $50.7 million of bonds on behalf of five counties next week in its third pooled offering utilizing stimulus programs.

The New York City Capital Resource Corp. gave final approval Tuesday to the issuance of $19.7 million of recovery zone facility bonds for a Harlem hotel as it tries to get deals out the door before the program expires at the end of this year.

Public bus service in Nassau County, N.Y., could be privatized after talks on Monday between the Metropolitan Transportation Authority and the county executive produced no resolution in a funding dispute.

Requiring local government employees and retirees in New York to pay a share of health insurance premiums could save more than $1 billion annually, according to a think tank report released Monday.

Higher spending and lower revenues than anticipated in New York have created a $315 million mid-year budget gap, the state Division of Budget said in a midyear report last week.

Nassau County, N.Y., received its first rating downgrade in a decade last week as it prepared to market and remarket at least $463 million of general obligation debt.

Fitch Ratings on Wednesday downgraded to junk $792 million of bonds issued in 1997 by the Port Authority of New York and New Jersey to build a terminal at John F. Kennedy International Airport.

The New York City Municipal Water Finance Authority plans to market $500 million of taxable Build America Bonds on its subordinate lien on Tuesday.

New York Republican Comptroller candidate Harry Wilson said in an interview last month that he worked on a bond transaction with the Los Angeles Department of Water and Power but declined to discuss it. The department could not confirm that Wilson had worked on a deal.

Investors in bonds that financed parking facilities serving Yankee Stadium are currently reviewing the budget of the fiscally troubled nonprofit that runs the lots, after being asked to waive debt-service coverage covenants.

New York City ended fiscal 2010 on June 30 with a $5 million general fund surplus, according to the comprehensive annual financial report released Friday by the city comptroller’s office.

New York voters next week will decide whether a politician or a businessman should be the state’s comptroller.

New York’s Metropolitan Transportation Authority approved bridge and tunnel toll hikes that will yield an additional 7.5% of revenue at its monthly board meeting Wednesday.

The Dormitory Authority of the State of New York gave both preliminary and final approvals Wednesday to up to $1.4 billion of bonds for education, higher education, and health care projects at a board meeting in Albany.

New York’s Metropolitan Transportation Authority is looking to sell more than $1 billion of tax-exempt debt next month, including a $250 million remarketing of variable-rate debt as fixed rate.