The New York City Municipal Water Finance Authority (“NYW”) is a public benefit corporation created in 1984 pursuant to the New York City Municipal Water Finance Authority Act. NYW’s purpose is to finance the capital needs of the water and sewer system of the City of New York which is operated by the New York City Department of Environmental Protection.
NYW bonds pay for projects in the capital program of the City’s Water and Sewer System. This capital investment maintains the quality of New York City’s drinking water, which each day delivers more than 1 billion gallons of fresh, clean water from the City’s watersheds, some more than 125 miles from the City, to the taps of over nine million people. Bond proceeds provide the funding necessary to maintain the watersheds and treat the supply to ensure its high quality and its compliance with federal and state water quality standards. Proceeds are also used to maintain and improve the transmission, distribution capacity, and condition of the City’s water supply system. Investments in the system also ensure compliance with federal and state standards for treatment, fund upgrades to the City’s wastewater treatment facilities, and reduce pollution caused by combined sewer overflows, all which improve the quality of New York City’s surrounding waters.
Visit the NYW website.