EFC annually reviews its portfolio and leverages its high credit rating and market demand for tax-exempt bonds to provide capital for wastewater and drinking water projects and refund certain prior bonds. Refunding bonds help EFC's municipal partners recognize savings on qualified existing bonds. Local governments and public authorities participate in project financings through EFC and receive low-interest financings for various drinking water and wastewater infrastructure projects through the state’s Clean Water State Revolving Fund and Drinking Water State Revolving Fund. Refunding bond sales deliver additional savings for EFC’s municipal partners by refinancing the original bonds that funded their projects at an even lower interest rate.


Unless noted as a PDF, the links to the following disclosure documents will take you off this site.



Electronic access to the Statements located on this website has been authorized by the New York State Environmental Facilities Corporation.

The inclusion of the Statements located on this website is for information purposes only and is being made available to you as a matter of convenience. Although the information contained in the Statements has been formatted in a manner which should replicate the printed Statements, physical appearance may differ for various reasons, including electronic communication difficulties or particular user equipment. The user of the Statements assumes the risk of any discrepancies between the printed Statements and the electronic version of this document. The Statements located on this website do not constitute an offer to sell or the solicitation of an offer to buy. Further, please be advised that the Corporation disclaims any duty or obligation to update or maintain the availability of the information contained on this website or any responsibility or liability for any damages caused by viruses contained within the electronic files or on this website or the Corporations homepage. No statement found on this website or the Corporations homepage is incorporated by reference in the Statements and no statement on this website or the Corporations homepage constitutes a part of the Statements.

Disclosure Documents

Official Statements

Annual Information Statements

Green Bond Reporting

Independent Registered Municipal Advisor Exemption

The New York State Environmental Facilities Corporation (the “Corporation”) is posting this information so that market participants may provide advice on the issuance of municipal securities and municipal financial products, including investment of bond proceeds and escrow investments, and utilize the independent registered municipal advisor exemption from the municipal advisor definition in the Securities and Exchange Commission rules relating to the definition, regulation, and registration of municipal advisors.

The Corporation has retained Hilltop Securities Inc., a Hilltop Holdings Company (“Hilltop”), and PFM Financial Advisors LLC (PFM) as its independent registered municipal advisors.  The Corporation is represented by, and will rely on its independent registered municipal advisors when considering information (other than general information that does not involve a recommendation) that market participants, including investment banking firms, provide regarding the issuance of municipal securities and municipal financial products, including investment of bond proceeds and escrow investments.  The personnel of Hilltop and PFM who will advise on such recommendations (including those who participate in the management, direction, supervision, or performance of such activity) have represented to the Corporation that they have not been associated with an investment banking firm within the two years prior to the date of this statement.

This statement may be relied upon until February 23, 2025, unless withdrawn or modified by the Corporation. Proposals by investment banking firms may be addressed to the Environmental Facilities Corporation, 625 Broadway, 7th Floor, Albany, NY 12207 or at [email protected]. Please note, that aside from regulatorily mandated correspondence between an underwriter and municipal advisor, an underwriter should not speak directly with or send documents directly to the municipal advisor unless specifically directed to by the Corporation.