New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned sale of obligations for the state, New York City, and their major public authorities during the third quarter of 2016.

The proposed new issuances total approximately $6.51 billion, including $2.19 billion scheduled for this month, $1.77 billion scheduled for August and $2.55 billion scheduled for September. The anticipated new issuances in the third quarter compare to past planned new issuances of approximately $3.61 billion during the second quarter of 2016, and $1.65 billion during the third quarter of 2015.

The State Comptroller's office chairs the Securities Coordinating Committee which was created by Gubernatorial Executive Order primarily to coordinate the borrowing activities of the state, New York City and their respective public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to their borrowing programs.

The third quarter new money borrowings are expected to include the following:

• City of New York – bond sales totaling up to $1.38 billion in fixed rate tax-exempt and taxable bonds as well as variable rate tax-exempt bonds for the month of August.
• Dormitory Authority of the State of New York – bond sales totaling up to $59 million in fixed and variable rate tax-exempt bonds for the month of July and a bond sale of up to $750 million in fixed rate tax-exempt bonds for the month of September.
• Long Island Power Authority – a bond sale of up to $350 million in fixed rate tax-exempt bonds for the month of September.
• Metropolitan Transportation Authority – a bond sale of up to $575 million in fixed rate tax-exempt bonds for the month of July.
• New York City Municipal Water Finance Authority – a bond sale of up to $400 million in fixed rate tax-exempt bonds for the month of September.
• New York City Transitional Finance Authority – a bond sale of up to $1.05 billion in fixed rate tax-exempt and taxable bonds for the month of July and a bond sale of up to $1.05 billion in fixed rate tax-exempt and taxable bonds for the month of September.
• New York State Environmental Facilities Corporation – a bond sale of up to $167.8 million in fixed rate tax-exempt and taxable bonds for the month of August.
• New York State Housing Finance Agency – bond sales totaling up to $383.2 million in fixed rate tax-exempt bonds as well as variable rate tax-exempt and taxable bonds for the month of July and a bond sale of up to $224.5 million in variable rate tax-exempt and taxable bonds for the month of August.
• State of New York Mortgage Agency – a bond sale of up to $125 million in fixed and variable rate tax-exempt bonds for the month of July.

Refundings or reofferings are currently being contemplated by: the Dormitory Authority of the State of New York, the Long Island Power Authority, the New York State Housing Finance Authority, the State of New York Mortgage Agency, and the Utility Debt Securitization Authority.

The schedule will be modified and updated in response to changes in program needs and market conditions. It is also contingent upon execution of all project approvals required by law. The schedule is released by the committee to assist participants in the municipal bond market. A new schedule is released every quarter and updated as necessary. The collection and release of this information by the Office of the State Comptroller is not intended as an endorsement of the proposed issuances it contains, many of which will be subject to approval by the Office of the State Comptroller.

The full forward calendar can be obtained at: www.osc.state.ny.us/pension/scccalendar.pdf.