Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2003 Basic FINANCIAL STATEMENTS - Notes To Financial Statements - Note 25 - Subsequent Events

State of Connecticut

Note 25 Subsequent Events

In July, $338.6 million of special tax obligation refunding bonds for transportation infrastructure programs were issued. These bonds will mature through September, 2010 and bear interest rates ranging from 2% to 5%.

In August, $215.6 million of general obligation refunding bonds were issued. The bonds will mature in years 2004 through 2010 and bear interest rates ranging from 3% to 6%.

In October, $200 million of general obligation and general obligation refunding bonds were issued. The bonds will mature August 15, of the years 2004 through 2023 and bear interest rates ranging from 2% to 5.25%.

In November, $200 million of general obligation bonds and $166 million of general obligation refunding bonds were issued. The general obligation bonds will mature October 15, of the years 2004 through 2023 and bear interest rates ranging from 2% to 5.25%. The general obligation refunding bonds will mature March 15, of the years 2004 through 2011 and bear interest rates ranging from 2% to 5%.

In November, $200 million of special tax obligation bonds were issued. The bonds will mature on January 1, of the years 2005 through 2015 and bear interest rates ranging from 2% to 5%.

In January 2004, $314.8 million of University of Connecticut general obligation and general obligation refunding bonds were issued. The bonds will mature in years 2005 through 2024 and bear interest rates ranging from 2% to 5%.