New York State will sell $830 million of new-money and refunding general obligation bonds via competitive bid on Tuesday to help finance transportation and environmental infrastructure needs and generate debt service savings.

The state typically issues new-money GOs towards the end of its fiscal year to reimburse capital spending throughout the year. Fiscal 2011 ends March 31. The Legislature last week began conference committee budget meetings to work out a compromise fiscal 2012 budget that closes a $10 billion deficit.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.