The New York City Industrial Development Agency yesterday approved the refunding of $71 million of bonds sold in 2003 to pay for planning and development costs incurred in connection with an aborted proposal to expand the New York Stock Exchange.

The IDA issued $78 million of fixed-rate fiscal 2004 Series A bonds and $30 million of variable-rate fiscal 2004 Series B bonds to finance "costs for predevelopment, design, and site acquisition and disposition" of the NYSE expansion, which was to include moving the exchange across the street from its current location on Wall Street. The NYSE decided against the expansion in the aftermath of the terrorist attacks of Sept. 11, 2001.

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.