Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2004 Basic FINANCIAL STATEMENTS - Notes To Financial Statements - Note 25 - Subsequent Events

State of Connecticut

Note 25 Subsequent Events

In July, the State issued $72.5 million of parking and energy fee revenue bonds. The bonds are special obligations of the Capital City Economic Development Authority, a component unit. However, the State is contractually obligated to pay annual debt service requirements on the bonds, such payment not to exceed $6.7 million.

In November, $200 million of special tax obligation bonds for transportation infrastructure programs and $89.7 million special tax obligation refunding bonds were issued. These bonds will mature through July, 2024 and July, 2019 respectively and bear interest rates ranging from 2.125% to 5% and 3% to 5.25% respectively.

In December, $300 million of general obligation bonds were issued. The bonds will mature in years 2005 through 2024 and bear interest rates ranging from 2.15% to 5%.

In March 2005, $300 million of variable rate general obligation bonds were issued. The bonds will mature in years 2006 through 2023.

In March 2005, $98 million of general obligation bonds were issued. The bonds will mature in years 2006 through 2025 and bear interest rates ranging from 3% to 5%.

In March 2005, $335.5 million of general obligation refunding bonds were issued. The bonds will mature in years 2005 through 2021 and bear interest rates ranging from 3% to 5.25%.

In June 2005, $315 million of general obligation bonds were issued. The bonds will mature in years 2006 through 2025 and bear interest rates ranging from 3% to 5%.

In November 2005, $300 million of general obligation bonds were issued. The bonds will mature in years 2006 through 2025 and bear interest rates ranging from 4% to 5%.

In December 2005, $250 million of special tax obligation bonds for transportation infrastructure programs were issued. These bonds will mature in years 2006 through 2015 and bear interest rates ranging from 4% to 5%.