Metropolitan Transportation Authority
PRELIMINARY OFFERING MEMORANDUM DATED NOVEMBER 26, 2019 NEW ISSUE BOOK-ENTRY-ONLY $200,000,000* METROPOLITAN TRANSPORTATION AUTHORITY Transportation Revenue Bond Anticipation Notes, Series 2019F DATED: Date of Delivery DUE: As Set Forth on the Inside Cover Page The Transportation Revenue Bond Anticipation Notes, Series 2019F (the Series 2019F Notes), offered hereby are issued in accordance with the terms and provisions of the General Resolution Authorizing Transportation Revenue Obligations of MTA adopted on March 26, 2002 (the Transportation Resolution), as supplemented, including as supplemented by the Multiple Series 2019 Bond Anticipation Notes and Related Subordinated Indebtedness Transportation Revenue Bond Supplemental Resolution adopted by MTA on December 12, 2018, as amended on June 26, 2019 (the BAN Resolution). One or more series of bonds is expected to be issued to retire the Series 2019F Notes (the Take-Out Bonds), in accordance with the Transportation Resolution, as supplemented, including as supplemented by the Multiple Series 2019 Transportation Revenue Bond Supplemental Resolution adopted by MTA on December 12, 2018, as amended on June 26, 2019 (the Take-Out Bond Resolution, and together with the Transportation Resolution and the BAN Resolution, the Resolution). The Series 2019F Notes are being issued to (i) finance existing approved transit and commuter projects, (ii) pay capitalized interest on the Series 2019F Notes accruing through maturity, and (iii) pay certain financing, legal, and miscellaneous expenses. See “APPLICATION OF PROCEEDS” herein. Principal of and interest on the Series 2019F Notes are payable solely from (1) the proceeds of other notes, (2) the proceeds of the Take-Out Bonds and (3) with respect to interest payable on the Series 2019F Notes, amounts available for payment of subordinated indebtedness.
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