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New York State Thruway Authority

About the Bond Program

The Authority's authorizing legislation provides for the ability to issue, from time to time, negotiable bonds and notes for any corporate purpose secured by tolls, revenues, and other earned income of the Authority. The Authority has issued General Revenue Bonds and Notes for the purpose of funding a portion of the Authority's Capital Program, and Junior Indebtedness Obligations for the purpose of funding a portion of the New NY Bridge project costs.

The Authority is currently authorized to issue State Personal Income Tax Revenue Bonds (Transportation) (PIT) to fund expenditures under the Consolidated Local Street and Highway Improvement Program (CHIPs), the Municipal Streets and Highway Program (Marchiselli), the Suburban Highway Improvement Program (SHIPs) and the Multi-Modal Program.  These programs provide funds to municipalities and other project sponsors throughout the State for qualifying capital expenditures for highway, bridge, and multi-modal projects.  These programs were previously funded by Local Highway and Bridge Service Contract Bonds (CHIPs), for which the Authority is authorized to issue.  Currently, CHIPs bonds are issued only for purposes of refunding previously issued CHIPs bonds, and are no longer issued for new money purposes.

The Authority has also been authorized to issue Highway and Bridge Trust Fund Bonds to reimburse the State for expenditures made or to be made by the State Department of Transportation in conjunction with the State's multi-year highway and bridge capital program.

The Local Highway and Bridge Service Contract, PIT, and Trust Fund Bonds are special limited obligations of the Authority secured by a pledge of certain payments by the State, subject to appropriation by the State Legislature. No Authority revenues or assets are pledged to pay debt service on these bonds. For more information regarding these bond programs, go to www.budget.ny.gov/investor/bond/generalDebt.html. Leaving NYS Thruway Authority's Website 

Disclaimer

All Information contained in this website is provided "as is" without warranty of any kind and, in particular, no representation or warranty, express or implied, is made or is to be inferred as to the accuracy, reliability, timeliness or completeness of any such information. The statistical and numerical information provided in this website is presented in an unaudited form. This website is to be used for informational purposes only and may not be relied upon for any other purpose. No representation is made that said statistical and numerical information is without errors or omissions which may be considered material. Under no circumstances shall the New York State Thruway Authority or the New York State Canal Corporation, their members, directors, officers, agents, employees, or counsel be liable to any person or entity for:

  1. any loss or damage in whole or part caused by, resulting from, or relating to any error or omission (through neglect or otherwise) or other circumstances involving the procurement, collection, compilation, interpretation, analysis, editing, transportation, transmittal, communication or delivery of any information, contained in this website,

    or

  2. any direct, indirect, special, consequential or incidental damages whatsoever, even if the New York State Thruway Authority or the New York State Canal Corporation, their members, directors, officers, agents, employees, or counsel are advised in advance of the possibility of such damages resulting from the use of, or inability to use, any information contained in this website.

This website does not purport to be comprehensive or definitive.

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