Connecticut Attorney General George Jepsen on Wednesday issued a formal opinion saying a mistake in a June bond sale covenant will not impact the state’s ability to borrow over the $1.9 billion bond cap.
When Connecticut issued bonds in June of 2018, the bond covenant said Connecticut would strictly adhere to its new $1.9 billion bonding cap until 2023 — with no changes to underlying statutes and no exceptions. However, language contradicts the legislature’s loosening of the bond cap in May of 2018, allowing ...
The newest budget negotiated between Democratic and Republican leaders in both the House and Senate has yet to be released, but based on the information we have received, this is a breakdown of the changes included in the new budget package.