About this bond issuance
The proceeds of the Bonds will be used to redeem outstanding general obligation bonds for savings and pay for costs of issuance.
ObligorThe obligor is the organization that holds ultimate responsibility for the bond issuance, and will ensure that investors get repaid.
The City of New York. The City, with an estimated population of approximately 8.6 million, is an international center of business and culture. Its non-manufacturing economy is broadly based, with the banking, securities, insurance, technology, information, publishing, fashion, design, retailing, education and health care industries accounting for a significant portion of the City's total employment earnings. Additionally, the City is a leading tourist destination.
IssuerOften the obligor. However, sometimes issuers partner with an authorized conduit financing non-profit within their state or city to issue the bonds.
The City of New York.
AuthorityBefore an issuer can raise money for a project, they must first have the legal authority to do so. This authority is sometimes preceded by a general election, and awarded after the successful passing of a bond measure.
The Bonds are general obligations of the City issued pursuant to the Constitution and laws of the State, including the Local Finance Law, and the City Charter and in accordance with bond resolutions of the Mayor and a certificate of the Deputy Comptroller for Public Finance.
SecurityThe security section is a breakdown of the funds an issuer is planning to use to repay its investors. This repayment can come from a variety of sources, including local taxes.
The Bonds are general obligations, full faith and credit obligations of The City, secured by a real property tax levied without limitation as to rate or amount. All of the City's property tax is deposited into the general debt service fund, which is administered and maintained by the State Comptroller.
Retail Order Period Day 1: Monday, August 6, 2018
Retail Order Period Day 2: Tuesday, August 7, 2018
*Please note this schedule is subject to acceleration at the discretion of the City.