On August 15, 2018, MAROUS LAW, acting as co-bond counsel, facilitated the Dormitory Authority of the State of New York’s (“DASNY”) issuance of $14,250,000.00 of DASNY revenue bonds under its InterAgency Council Pooled Loan Program. This transaction (Series 2018A), represented the 25th of such issuance under this program. DASNY is a public benefit corporation of the State of New York, created for the purpose of financing and constructing a variety of public-purpose facilities for certain educational, healthcare, governmental and not-for-profit institutions. This transaction certainly met that purpose.
Including no less than 7 participants, this Series 2018A Bonds was issued for the purpose of financing or refinancing a portion of the cost of the acquisition, construction, renovation and furnishing of certain facilities to be used for people with developmental disabilities or other special needs.
Yet another example of worthy use of the tax-payers tax dollars.