State of Connecticut

CAPITAL PROJECTS FUNDS

CHANGES IN BONDS AND NOTES OUTSTANDING SCHEDULE E-3
JULY 1, 2011 TO JUNE 30, 2012
(In Thousands)
OUTSTANDING
6/30/2011
ADDITIONS
2011-12
RETIRED/
DEFEASED
2011-12
OUTSTANDING
6/30/2012
Capital Improvements and Other Purposes $1,924,881 $381,768 $379,719 $1,926,930
School Construction 4,485,842 542,496 480,675 4,547,663
Municipal and Other Grants and Loans 739,204 285,536 210,668 814,072
Elderly Housing 169,130 34,930 14,200 189,860
Elimination of Water Pollution 259,225 60,000 88,675 230,550
Specific Highway Purposes   - - -
Infrastructure Improvement 3,357,595 455,075 525,330 3,287,340
Other Transportation     - -
General Obligation Refunding 3,722,620 985,970 821,815 3,886,775
Pension Obligations 2,276,578 - - 2,276,578
Miscellaneous 122,505 28,840 34,860 116,485
Total from General and Transportation Funds 17,057,580 2,774,615 2,555,942 17,276,253
         
Bonds Redeemable From Other Sources        
University and State University 159,820 - 159,820 -
Bradley International Airport 210,340 - 15,155 195,185
Clean Water Fund 899,105 - 75,330 823,775
Total from Other Sources 1,269,265 - 250,305 1,018,960
Total Bonds Outstanding $18,326,845 $2,774,615 $2,806,247 $18,295,213
         
Notes Redeemable from General Fund Revenue        
Economic Recovery Notes $915,795 $- $167,860 $747,935
Total Notes Outstanding $915,795 $- $167,860 $747,935

 

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
  Refunding Defeased  
Refunding Date Bonds Issued Bonds with various due dates from
       
G.O. June 2012 $523,245 $586,190 Dec. 2012 through June 2025
G.O. August 2011[a] 280,000 280,000 Immediate conversion of demand
G.O. November 2011 150,820 162,230 May. 2012 through November 2019
G.O. December 2011 31,905 33,735 Feb. 2018 through Feb. 2023
S.T.O. December 2011 233,845 251,055 Dec. 2012 through Dec. 2022
  $1,219,815 $1,313,210  

[a] On August 1, 2011, the State reoffered $280.0 million in twelve year bonds for the purpose of converting the interest rate mode from variable rate demand to the SIFMA index on bonds originally issued in March 2005.