New York City Municipal Water Finance Authority

The New York City Municipal Water Finance Authority (MWFA) is an agency that manages the financing of the city’s water and sewer systems. It raises funds by issuing bonds, which are investments that provide the city with capital to build, maintain, and operate essential water infrastructure. In return, bondholders receive regular interest payments. The MWFA ensures the water system stays reliable and well-maintained, and the cost of borrowing is ultimately paid for through water and sewer charges collected from city residents and businesses. This structure helps the city keep its water services effective and financially sustainable.