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.

Retail pricing is scheduled for Tuesday.

The new-money, fixed-rate sale will involve a par amount of $717.9 million of Series 2011C tax-exempt bonds and $44.8 million of Series 2011D federally taxable bonds. Closing is scheduled for July 21.

Portia Lee, DASNY’s managing director of public finance, said proceeds will finance State University of New York capital projects and grants under the Expanding Our Children’s Education and Learning program.

Excel, as the program is called, provides limited-time state aid to school districts that covers the cost of repairs and improvements to schools, including projects that relate to health and safety, energy management, and accessibility.

The bonds are callable in 10 years. No swaps or insurance are involved.

According to Lee, outstanding personal income tax, or PIT, bonds issued by various state agencies is $21.6 billion as of June 30.

From 2002 through 2011, DASNY has sold $12.7 billion of debt through 44 issuances from 2002 through 2011. Last month it sold $673.7 million of Series 2011A and Series 2011B bonds.

The deal is rated AAA and AA by Standard & Poor’s and Fitch Ratings, respectively. The PIT is the state’s major revenue source, making up about 60% of tax receipts historically.

“New York’s debt burden is above average but still in the moderate range, and pensions are well-funded,” Fitch said in its report.

The agency also said the rating is linked to the state’s outlook for general obligation bonds, which is positive.

Wells Fargo Securities LLC is lead underwriter. Hawkins Delafield & Wood LLP and Bryant Burgher Jaffe & Roberts LLP are bond counsel. Edwards Angell Palmer & Dodge LLP and Hardwick Law Firm LLC are underwriters’ counsel.

Under New York law, five state issuers can sell PIT revenue bonds: DASNY, the New York State Environmental Facilities Corp., the New York State Housing Finance Agency, the New York State Thruway Authority, and the New York State Urban Development Corp.

All three major rating agencies assign a AA rating to New York State’s credit.

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