Nassau County Debt
Nassau County Debt
The County issues debt to finance its long-term capital and short-term cash flow needs. It issues long-term bonds for capital projects included in the County's capital plan, while it has also issued long-term working capital bonds to finance property tax refund payments, payments of judgments and settlements and employee termination costs.
The County periodically issues cash flow notes to fund cash flow deficits during the year resulting from timing differences between expenditures and the collection of revenues.
The County and related entities have various types of debt outstanding. The County has issued general obligation bonds to the public and to the New York State Environmental Facilities Corporation. The Nassau County Interim Finance Authority, a state authority, has issued revenue bonds secured by an intercept of the County's local sales tax, and the Nassau County Sewer and Storm Water Finance Authority, also a state authority, has issued revenue bonds secured by County sewer and storm water assessments and other system revenues. Further, the County has guaranteed the bonds of the Nassau Health Care Corporation.