Dormitory Authority 2nd in Nation in Bond Sales

The Dormitory Authority of the State of New York (DASNY) issued approximately $7.5 billion in municipal bonds in 2009, making it the nation’s second largest bond issuer, according to data published by the financial newspaper The Bond Buyer.

In addition, the Dormitory Authority took 47 issues to market in 2009, making it the most frequent participant in the municipal bond market according to data published by the Bond Buyer.

Top Municipal Bond Issuers

Full Year 2009

Rank	Issuer	Amount	Issues
1	California (State)	$23,179.7	24
2	New York State Dormitory Authority	7,501.1	47
3	New York City	6,161.3	12
4	Puerto Rico Sales Tax Financing Corp.	5,573.9	4
5	New York City Transitional Finance Authority	4,344.3	9
6	Illinois Finance Authority	4,136.5	43
7	California Statewide Communities Development Auth.	4,120.8	22
8	Connecticut (State)	3,787.6	28
9	Washington (State)	3,315.4	20
10	Pennsylvania Turnpike Commission.	2,946.1	8
(Dollar amounts are in millions. Rankings are final as of Dec. 31, 2009. Source: Thomson Reuters.)

DASNY Executive Director Paul T. Williams, Jr. said: “By working diligently to help our portfolio of public and private clients meet their capital needs the Dormitory Authority plays a critical role in financing construction projects, as well as encouraging the growth of services, opportunities and economic development across New York State.”

In 2009 the Dormitory Authority went to market on behalf of a broad range of public and private not-for-profit clients seeking tax-exempt funding for their capital construction needs. It is estimated that construction projects financed by the Authority’s 2009 bond issues will create thousands of construction jobs across New York. The Authority’s financing clients in 2009 included the State University of New York, City University of New York, Mount Sinai School of Medicine, North Shore Long Island Jewish Medical Center, Samaritan Hospital (Watertown), Cornell University, University of Rochester, Yeshiva University, Hospital for Special Surgery (Manhattan), and New York University, among others.

In 2009, approximately 62 percent of bonds issued by DASNY were on behalf of public programs and services, while approximately 38 percent of the Authority’s bonds issued were on behalf of its portfolio of private, not-for-profit higher education and healthcare clients.

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The Dormitory Authority, founded in 1944, is the largest higher education, health care and public-purpose issuer of public debt in the nation with an outstanding bond portfolio of more than $38 billion. The Dormitory Authority also is a major public builder in New York State with a construction pipeline of 719 projects valued at $6.9 billion.