New York Comptroller Thomas DiNapoli last week announced that Andrew SanFilippo will serve as director of the state’s Municipal Bond Bank Agency.
SanFilippo brings nearly 35 years of public finance knowledge with him to the MBBA, including independent auditing and debt structuring experience. He became comptroller for Buffalo in 2003 after serving as the city’s investment and debt manager for 23 years. Before that, SanFilippo was the executive assistant to Buffalo’s comptroller.
“Comptroller SanFilippo has a rich and distinguished legacy of public service, and his expertise in government finance and local government will serve New York taxpayers very well,” DiNapoli said in a press release. “Since taking office as Buffalo city comptroller in 2003, Andy has been a steady, powerful, and effective force for positive change in the state’s second-largest city. I’m pleased to have Buffalo’s chief fiscal watchdog as my appointment to the MBBA.”
Lawmakers created the bond bank in 1972 to help municipalities access the tax-exempt bond market.
In 2002, the agency was granted authority to issue special school deficit program bonds on behalf of school districts and local governments. Also within the MBBA is the Tobacco Settlement Financing Corp., which has $3.8 billion of bonds outstanding from its Series 2003A and Series 2003B bonds, according to the TSFC’s unaudited fiscal 2007 report.