MBBA provides access to the capital markets for special programs and purposes that benefit the municipalities of the State of New York.
MBBA was created in 1972 to help municipalities gain access to the capital markets. The Agency has the authority to issue bonds and use the proceeds to purchase bonds and notes issued by local governments to finance public improvements.
In 2009, amendments to the Agency's enabling legislation led to implementation of the MBBA Recovery Act Bond program, which helped local governments take advantage of bonding authorization in the federal American Recovery and Reinvestment Act of 2009 (ARRA). Under this program, the Agency purchased tax-exempt and taxable bonds issued by local governments under ARRA provisions, creating cost efficiencies and interest rate savings for municipalities. This program ended December 31, 2010 with the expiration of the ARRA taxable bond provisions. Further information about MBBA's mission can be found in its Mission Statements, click here.
In 2010, the Agency's enabling legislation was again amended so that the Agency could purchase Bonds issued by Counties for approved Interoperable and Emergency Communications System. The Agency is currently in the process of formulating this program. For information and documentation about the proposed program requirements, click here.
Last updated: 1/26/2011