Buffalo Issues $29M Bonds for Schools, Infrastructure

Buffalo, NY— City of Buffalo Comptroller Barbara Miller Wil liams announced that on Thursday, Septem ber 18, 2025, the City successfully borrowed $29,433,750 through the sale of Bond Anticipa tion Notes (BAN) at an interest rate of 2.4570%. The winning bid, from a pool of six bidders, was from Wells Fargo Bank, National Association. The total net interest cost on the one-year BAN is $723,187.23.

The financing provides $7 million for key City infrastructure projects, including improvements along Busti Avenue, Jefferson Avenue, and the Cars on Main Street Initiative. In addition, $22 million will support shovel-ready Buffalo Public Schools projects, which are eligible for up to 97.3 percent reimbursement from New York State.

“The successful issuance of this BAN strengthens the City’s ability to invest in critical infrastructure and education,” said Comp troller Miller Williams. “Securing this financing helps the City manage its capital needs responsibly while maintaining a sold fiscal foundation.”

The Department of Audit and Control continues to promote transparency and provide independent financial oversight for the benefit of all Buffalo residents and taxpayers.