CONTACT:
Robert
Whalen
(212) 681-4840

FOR RELEASE:
Immediately
July 2, 2009

DiNAPOLI ANNOUNCES THIRD QUARTER 2009

BOND SALE SCHEDULE

State Comptroller Thomas P. DiNapoli today
announced a tentative
schedule for the planned public
sale of obligations for the State, its major public authorities, the City
of New York and the City’s major public authorities during the third quarter
of calendar year 2009.

The proposed new issuances total approximately
$5.9 billion, including approximately $1.9 billion scheduled for July,
approximately $1.3 billion scheduled for August, and approximately $2.7
billion scheduled for September. The third quarter of anticipated new issuances
compare to past planned new issuances of: approximately $3.6 billion during
the second quarter of calendar year 2009, and approximately $5.8 billion
during the third quarter of calendar year 2008.

The Office of the State Comptroller chairs
the Securities Coordinating Committee which was created by Executive Order
primarily to coordinate the borrowing activities of the State, the City
and 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 – a bond sale of
  up to $600 million in tax-exempt fixed rate bonds in August, and a bond
  sale of up to $600 million in tax-exempt fixed rate bonds in September.

• Dormitory Authority of the State of New
  York – bond sales totaling up to $474.4 million in tax-exempt fixed
  rate bonds in July, bond sales totaling up to $465 million in tax-exempt
  fixed and/or variable rate bonds as well as taxable fixed and/or variable
  rate bonds in August, and bond sales totaling up to $1,450.1 million in
  tax-exempt fixed and/or variable rate bonds as well as taxable fixed and/or
  variable rate bonds in September.

• New York City Municipal Water Finance
  Authority – a bond sale of up to $500 million in tax-exempt fixed
  rate bonds in September.

• New York City Transitional Finance Authority
  – a bond sale of up to $600 million in tax-exempt fixed rate
  bonds in July.

• New York State Environmental Facilities
  Corporation – a bond sale of up to $175 million in tax-exempt
  fixed rate bonds in September.

• New York State Housing Finance Agency
  – bond sales totaling up to $138.1 million in variable rate tax-exempt
  bonds in July, and bond sales totaling up to $195 million in tax-exempt
  fixed and variable rate bonds as well as taxable fixed rate bonds in August.

• Thruway Authority – a sale of up
  to $700 million in tax-exempt fixed rate bond anticipation notes in July.

 
Refundings or conversions are currently being
contemplated during the third quarter by the Dormitory Authority of the
State of New York and the New York Local Government Assistance Corporation.

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.

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