In September, $335.6 million of special tax obligation bonds for transportation infrastructure programs were issued. These consisted of $175 million of serial bonds and $160.6 million of refunding serial bonds maturing on various dates through 2015 and bearing interest rates of 3.6% to 6.25%. The refunding bonds were used to advance refund $150.2 million of bonds bearing interest rates of 6.6% to 7.1%.
In October, $420 million of general obligation bonds were issued, maturing at various dates through 2015 and having interest rates of 4.5% to 5.5%.
In November, the State issued $236.1 million of general obligation economic recovery refunding notes to refund $240.7 million. These notes will mature on various dates through 1999 and bear interest rates of 4.25% to 5%.
In December, $9.9 million of taxable general obligation bonds were issued by the Connecticut Development Authority (CDA) with the principal and interest payment to be paid by the State of Connecticut general fund. These bonds mature at various dates through 2005 and have interest rates of 3.75% to 4.95%.
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