New York City's series H multimodal bonds will be issued as auction rate bonds with an initial auction period of seven days beginning April 9, 2001, for the taxable bonds and April 10, 2001, for the tax-exempt bonds. The city may convert the auction rate bonds to a different mode with proper notification. The rating on New York City's GO bonds and taxable GO bonds reflects: The city's substantial and diverse economic base, which has experienced growth across each of its five boroughs and nearly all sectors; Continued economic momentum, to date, despite national economic weakness; A robust real estate market highlighted by declining vacancy rates for commercial real estate and substantial appreciation of property values; Strong financial operating results
