FY05SC Fiscal Year 2005 securitization Corp.

Activities & Operations
Current Activities, Operations, and Accomplishments
The Fiscal Year 2005 Securitization Corporation (the "Corporation") issued approximately $499 million of bonds on December 2, 2004, consummating a transaction that resulted in a benefit to the City of New York of approximately $49.8 million. The Corporation’s operations consist of carrying out the requirements of its indenture, including ensuring that payments of principal and interest are made on its bonds. In addition, the Corporation complies with annual continuing disclosure requirements, issues annual audited financial statements, and complies with state and local reporting requirements. The Corporation does not expect to engage in any additional financings.
Mayor’s Office of Management and Budget (OMB)