Amy Resnick is a GOVERNING contributor.
In the battle for the title of largest-ever municipal bond issue, New York's Metropolitan Transportation Authority is triumphant--for now.
This month, the agency that runs New York City's subway system and other transportation assets, enters the market to sell $4.5 billion in bonds and set up for five more sizable deals by year's end--for a total of $14 billion in debt.
California's Department of Water and Power, with an $11 billion deal in the pipeline since the state began buying power to avoid blackouts last year, could easily claim the "biggest bond" record if sold as planned.
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