State of Connecticut

CAPITAL PROJECTS FUNDS

CHANGES IN BONDS AND NOTES OUTSTANDING SCHEDULE E-3
JULY 1, 2010 TO JUNE 30, 2011
(In Thousands)
OUTSTANDING
6/30/2010
ADDITIONS
2010-11
RETIRED/
DEFEASED
2010-11
OUTSTANDING
6/30/2011
Bonds Redeemable From General and Transportation        
Fund Revenues        
Capital Improvements and Other Purposes $2,077,503 $95,615 $248,237 $1,924,881
School Construction 4,330,584 330,000 174,742 4,485,842
Municipal and Other Grants and Loans 904,939 90,800 256,535 739,204
Elderly Housing 89,550 91,030 11,450 169,130
Elimination of Water Pollution 247,256 59,095 47,126 259,225
Specific Highway Purposes - - - -
Infrastructure Improvement 3,030,485 600,000 272,890 3,357,595
Other Transportation - - - -
General Obligation Refunding 3,406,165 765,955 449,500 3,722,620
Pension Obligations 2,276,578 - - 2,276,578
Miscellaneous 126,790 - 4,285 122,505
Total from General and Transportation Funds 16,489,850 2,032,495 1,464,765 17,057,580
         
Bonds Redeemable From Other Sources        
University and State University 165,435 - 5,615 159,820
Bradley International Airport 231,790 152,380 173,830 210,340
Clean Water Fund 821,950 182,935 105,780 899,105
Total from Other Sources 1,219,175 335,315 285,225 1,269,265
Total Bonds Outstanding $17,709,025 $2,367,810 $1,749,990 $18,326,845
  $- $- $- $-
         
Notes Redeemable from General Fund Revenue        
Economic Recovery Notes $915,795 $- $- $915,795
Bond Anticipation Notes 581,245 - 581,245 -
Total Notes Outstanding $1,497,040 $- $581,245 $915,795

 

Occasionally during the fiscal year, cash resulting from bond refunding was used to purchase investments in U.S. Government Securities which were placed into an irrevocable trust for the eventual payment of certain bonds which are considered to be defeased at the fiscal year end. A summary of these transactions follows.

Refunding Date Refunding
Bonds Issued
Defeased
Bonds
- with various due dates from
       
October 2010 $137,675 $139,235 - Nov. 2012 through Nov. 2022
October 2010 47,035 47,985 - Apr. 2011 through Oct. 2022
May 2011 [a] 581,245 581,245 - May. 2012 through Jun. 2018
  $765,955 $768,465  

[a] In May 2011, the state refinanced $581.2 million in bond anticipation notes, that were originally issued in April 2009, with general obligation bonds maturing in seven years.