Since its first bond sale in November 1985, the New York City Municipal Water Finance Authority (“New York Water” or “Authority”) has sold over $60 billion bonds. These bond issuances included a combination of general (first) resolution, second general resolution and subordinated special resolution crossover refunding water and sewer system revenue bonds. In addition to long-term debt, NYW uses a tax-exempt commercial paper program and bond anticipation notes (BANs) issued to the New York State Environmental Facilities Corporation (EFC) as a source of flexible short-term financing.
Click here to review the Authority’s various bond and note resolutions.
NYW participates in the State Revolving Fund (SRF) program administered by the EFC. The SRF provides a source of long-term below-market interest rate borrowing, subsidized by federal capitalization grants, state matching funds, and other funds held by EFC. For additional information, visit EFC’s website located at http://www.efc.ny.gov.