New Jersey is seeking a financial adviser to assist the state on an upcoming New Jersey Sports and Exposition Authority bond restructuring deal that will help reduce debt service costs in fiscal 2012.

The NJSEA bonds are state contract debt that is paid off from New Jersey’s general fund. Officials are looking to reduce debt service costs on state contract bonds by $75 million in fiscal 2012, according to the request for proposals. Fiscal 2012 begins July 1.

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