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NYC Budget Tests Mayor's Bonds with Wall Street

Tuesday, June 10, 2014

Mayor Bill de Blasio presents the 2015 city budget at City Hall on May 8, 2014 in New York City. (Seth Wenig/Getty)

New York City sells bonds to fund everything from schools to sewer systems. Investors like them because they come with tax exemptions and steady payments. And ratings agencies are giving the city's latest round of bonds good grades. But as Mayor Bill de Blasio's administration plans to spend more money to cover labor contracts and new programs, some investors are questioning whether the city’s IOUs are still a good deal.

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Comments [1]

Marsha Rimler from Brooklyn Heights

How about bond to fund capital needs at Libraries that have been ignored. There is a bill in albany to allow libraries to bond. If we do it for schools.. why not libraries.. This is a better funding plan than library destruction and sell-offs which was pushed by the bloomberg administration

Jun. 10 2014 10:33 AM

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