Northeast

New York City Mayor Michael Bloomberg Thursday announced the creation of a new bonding authority that would access the capital markets for nonprofit organizations throughout the city.

The Whitney Museum of American Art plans to borrow $125 million of tax-exempt bonds in mid-July to help finance construction of its new location in Manhattan's meatpacking district.

As the clock starts to tick for Harrisburg to act, local officials are parsing through a 418-page fiscal recovery plan that recommends the cash-strapped Pennsylvania city sell its incinerator and sell or lease other assets to pay down $220 million of outstanding debt tied to the facility.

The Port Authority of New York and New Jersey has selected three consortiums to bid on a $1.5 billion replacement of the Goethals Bridge.

The New York State Tobacco Settlement Financing Corp. in late June plans to refinance $975 million of tobacco revenue bonds backed by the state's appropriation pledge.

A long-awaited fiscal recovery plan issued Monday urges Harrisburg, Pennsylvania's capital city, to avoid a filing for bankruptcy and look toward asset sales and leases to get out from under its incinerator debt.

The Massachusetts Municipal Wholesale Electric Co. took out $170 million of variable-rate debt last week, largely through a fixed-rate power supply revenue bond issue, to refinance costs related to its minority ownership of nuclear plants in Seabrook, N.H., and Waterford, Conn.

The New York State Thruway Authority on Tuesday will sell $440 million of tax-exempt debt in a negotiated transaction to reimburse the state for expenses related to its multi-year highway and bridge capital program.

Connecticut is set to form a new bonding authority that will oversee six state airports, including the Bradley International Airport.

The New York State Environmental Facilities Corp. is scheduled to sell $193.56 million of new-money and refunding debt on Tuesday.