N.Y.’s East Hampton Plans First Bond Sale Since ’08: Muni Deals
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The village of East Hampton, the New York beach town where billionaire Ronald Perelman and fashion designer Calvin Klein own homes, plans to sell $3.3 million of general-obligation debt in its first bond issue since 2008.
The Long Island municipality, where the population triples to more than 4,000 during the summer, plans to offer the tax-exempt debt this week. The village, 100 miles (160 kilometers) east of Manhattan, will use the proceeds to reconstruct its emergency-service building and improve three main roads. The repairs are unrelated to Hurricane Sandy, which devastated Long Island beach towns last year.