State of New York Municipal Bond Bank Agency

The State of New York Municipal Bond Bank Agency (MBBA) was a New York State public-benefit corporation founded in 1972 by the state legislature to offer municipalities increased access to the bond market by creating an alternate method by which they could sell their general obligation bonds. MBBA was authorized to issue up to $1 billion of its bonds and to use the proceeds to buy bonds issued by municipalities. Following its creation there was insufficient interest by municipalities to use MBBA's financial services. In 1991 the cities of Buffalo and Rochester entered into agreements with MBBA to sell their bonds to MBBA in order to refund excess property taxes paid by residents of those cities. In 2017, it had operating expenses of $640,000, an outstanding debt of $402 million, and a staffing level of 269 people

It has been absorbed by New York State Homes and Community Renewal.

References

"NYSOSC General Data Document on the MBBA" (PDF). November 4, 2018.
"NYSABO 2018 Report" (PDF). November 5, 2018. pp. 16, 29, 44.
"NYSHCR description webpage". November 4, 2018.

External links

MBBA website

v t e Officers in the State of New York
Current offices	Governor Lieutenant Governor Speaker of the Assembly Temporary President of the Senate Secretary of State Attorney General State Comptroller Chief Judge of the Court of Appeals Associate Judge of the Court of Appeals Clerk of the Court of Appeals Clerk of the State Assembly
Defunct offices	Chancellor (1777–1847) State Treasurer (1776–1926) State Engineer (1846–1926) Canal Commissioner (1810–1878) Superintendent of Public Works (1877–1967) Inspector of State Prisons (1848–1877) New York Superintendent of State Prisons (1877–1926)