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POWER AUTHORITY PLANS BOND REFUNDING

 POWER AUTHORITY PLANS BOND REFUNDING
 NEW YORK, April 10 /PRNewswire/ -- New York Power Authority Chairman


Richard M. Flynn announced Friday that the Power Authority plans to issue about $130,860,000 in Series BB General Purpose Bonds in addition to the proposed issuance of Series AA bonds of about $230 million to $240 million that was previously announced.
 Proceeds from the sale of Series BB bonds, tentatively scheduled for later this month, will be used to refund Series F General Purpose Bonds, issued in February 1977. The refinancing will reduce the Power Authority's debt payments, resulting in savings for electricity consumers, and permit certain previously-adopted amendments to the General Purpose Bond Resolution to become effective.
 Most of the bonds to be refunded are term bonds due Jan. 1, 2010, with a coupon of 6.625 percent. The plan also covers $1,805,000 in 6.100 percent serial bonds, due Jan. 1, 1993.
 Sale of the bonds will be managed by Goldman Sachs & Co. Co-managers will be Lehman Brothers; PaineWebber Incorporated; The First Boston Corporation; Bear Stearns & Co. Inc.; Lazard Freres & Co.; W. R. Lazard, Laidlaw & Mead Incorporated.; J.P. Morgan Securities Inc.; and Smith Barney, Harris Upham & Co. Incorporated.
 -0- 4/10/92
 /CONTACT: Stephen Shoenholz of New York Power Authority, 212-468-6313/ CO: New York Power Authority ST: New York IN: UTI SU:


SH -- NY050 -- 7312 04/10/92 14:54 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
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