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New York City to Issue $2.5B in Notes
New York City is about to issue $2.5 billion worth of notes in order to ensure it has the necessary budgetary resources while it recovers from Tuesday's deadly terrorist strikes.
``We will try to get to the market as soon as practically possible,'' said Adam Barsky, the city's budget chief, after a briefing about the disaster recovery efforts by city officials.
Barsky explained the city was working with the Federal Emergency Management Agency and other U.S. federal agencies, which are pumping the city with the cash it needs during this crisis.
The overtime costs alone of keeping city emergency and other workers working as hard as possible will be enormous, he said.
Since Tuesday's terror attack which toppled the World Trade Center where close to 40,000 people worked, police officers have been working 12-hour shifts.
Police Commissioner Bernard Kerik said 4,972 people were still missing, but added there was still hope survivors may be found.
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