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 state will offer the bonds in three series: tax-exempt Series 2010A with a par of $211.3 million; traditional taxable Series 2010B with a par of $51.3 million; and taxable Build America Bonds Series with a par of $185.7 million. The bonds will be sold with serial maturities out to 2040. Proceeds will finance capital transportation and clean water and clean air projects.

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