The expiration two years ago of the law allowing the 116 industrial development agencies in New York to sell bonds on behalf of nonprofits is changing the landscape for borrowers and issuers.

Gov. David Paterson has called on the Legislature to enact a law that would allow the Dormitory Authority of the State of New York to sell bonds on behalf of charter schools as part of a package intended to access $700 million of federal education funding. Charter schools seeking tax-exempt bonds have turned to IDAs in the past.

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