The Fiscal Year 2005 Securitization Corporation (the "Corporation") issued approximately $499 million of bonds on December 2, 2004, consummating a transaction that resulted in a benefit to the City of New York of approximately $49.8 million. The Corporation’s operations consist of carrying out the requirements of its indenture, including ensuring that payments of principal and interest are made on its bonds. In addition, the Corporation complies with annual continuing disclosure requirements, issues annual audited financial statements, and complies with state and local reporting requirements. The Corporation does not expect to engage in any additional financings. As of April 2020, the Corporation’s previously issued bonds matured and are no longer outstanding. The Corporation’s Board of Directors voted in favor of a Plan of Dissolution in September 2020, and the Corporation has begun the dissolution process.