Comptroller Announces City Sale of $21.2 Million in School Serial Bonds and $13.13 Million in Bond Anticipation Notes

City of Buffalo Comptroller Barbara Miller Williams announced that on September 29, 2026, the City will issue $21,500,000 in School Serial Bond Anticipation Notes (BOE BANs) to support Buffalo Public Schools capital needs. The city received thirteen bids for the $21.5 million School Serial Bond sale, with Cabrera Capital Markets, LLC submitting the winning bid at an interest rate of 4.09%.

In addition, the City of Buffalo and the Buffalo Board of Education will issue $13,130,000 in Bond Anticipation Notes, with Piper Sandler & Co. submit ting the winning bid at an interest rate of 3.22%. This financing includes a Board of Education BAN in the amount of $5,646,250 and a City Re-BAN in the amount of $7,483,750.

“We recognize that this is a challenging market, which makes strong competition among bidders and securing favorable rates especially important,” said Comptroller Barbara Miller Williams. “These successful sales provide necessary financing for Buffalo Public School building maintenance and City of Buffalo road repairs, including Jefferson Avenue, Busti Avenue and Main Street, while allowing the City to manage its financial obligations responsibly.”

The Department of Audit and Control remains committed to transparency, account ability, and independent financial oversight. The Comptroller’s Office will continue to work with City leadership and stakeholders to advocate for responsible fiscal policies that support the City’s long term financial position, rebuild reserves and safeguard Taxpayers.