New York

The Port Authority of New York and New Jersey yesterday took a step toward cashless tolling at its six state border crossings. The agency approved the design and construction of a new $175 million toll collection system at its monthly board meeting.

The New York City Housing Development Corp. yesterday approved selling $535 million of tax-exempt and taxable bonds to finance the acquisition and rehabilitation of public housing so that it becomes eligible for federal funding.

The Dormitory Authority of the State of New York yesterday gave final approval to up to $778 million of bonds to refund certain state-backed debt.

A record year of Wall Street profits and large bonuses will boost New York’s tax revenue but won’t erase the state’s fiscal problems, Comptroller Thomas DiNapoli warned yesterday.

New York’s Metropolitan Transportation Authority approved the sale next month of $500 million of dedicated tax fund bonds at its finance committee meeting yesterday. Pending approval by the full board tomorrow, most or all of the bonds will be marketed as taxable Build America Bonds.

Westchester County last week completed its first competitive deal under a pilot program that allows it to sell bonds using only an Internet auction platform.

Coney Island is slated to begin a revival that could lead to a bond transaction later this year for affordable housing.

New Jersey Gov. Chris Christie last week appointed Sen. Bill Baroni to serve as deputy executive director of the Port Authority of New York and New ­Jersey.

New York plans to competitively price $448 million of new-money general obligation bonds on Thursday as the state grapples with closing a sizeable budget gap.

The New York City Transitional Finance Authority next week plans to privately place $375 million of Build America Bonds and traditional taxable municipal bonds with the New York State Division of Lottery and to market its first competitive BAB deal as part of a $900 million transaction.

The Erie County Fiscal Stability Authority plans to sell $174 million of bonds on behalf of the New York county in a deal announced Friday.

James Gill resigned as chairman of the Hugh L. Carey Battery Park City Authority after 14 years in the post, New York Gov. David Paterson announced Tuesday.

February in New York has produced a blizzard of political upheavals as rumors swirl around Gov. David Paterson, two politicians’ careers may be finished, and a special election cements a political dynasty.

New York City’s economic development bond issuers hope to get additional bond allocations under the recovery zone facility bond program, issuer staff said yesterday.

New York Gov. David Paterson wants to increase the level of taxation on New York City businesses to support the Metropolitan Transportation Authority, the according to a press release yesterday.

Westchester County, N.Y., plans to competitively market $173.1 million of general obligation bonds tomorrow in its first new-money deal since Republican Robert Astorino was elected county executive in November. The deal will also be the first marketed in the state under a pilot program allowing Westchester to accept only electronic bids.

Moody’s Investors Service yesterday downgraded to junk status bonds sold to finance the New York Mets Major League Baseball stadium, citing the diminished credit quality of a surety provider as one of the reasons.

New York City budget director Mark Page yesterday sharply criticized cuts in state funds for the city proposed in Gov. David Paterson’s state budget.

Moody’s Investors Service yesterday downgraded the New York Metropolitan Transportation Authority’s revenue bonds to A3 with stable outlook from A2 with negative outlook.

New York’s projected deficit for fiscal 2011 has grown by $750 million in less than three weeks to $8.2 billion, Gov. David Paterson said yesterday. Lower-than-forecast personal income tax collections and higher-than-expected Medicaid costs are driving the widening gap, his office said.