The City of New York is preparing to issue $126.3 million of bond backed by property tax lien certificates on residential and commercial properties in New York City, according to a presale report published by Moody’s Investors Service.

The certificates are collateralized by first priority liens on residential and commercial properties located throughout the five boroughs of the City, arising out of delinquent real estate property taxes, water and sewer charges, and other charges.

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