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.
Connecticut spent more money than it took in for 10 out of 13 years, according to a long-term state analysis by Pew Charitable Trusts. Overall, Connecticut was one of only eleven states that were consistently
In 2016 Connecticut borrowed $327.4 million for public projects, which included $4 million in fees for Connecticut agencies to oversee the projects, essentially borrowing to pay the cost of its employees. Those fees have added
Connecticut cut $1 billion from its planned borrowing this year in response to lowered tax revenue but is still moving forward with a massive project to update the state office building at 165 Capitol Avenue.
Connecticut officials are set to approve $78 million of borrowing Friday to pay for new and improved affordable housing with unit prices reaching as high as $249,000 for apartments in Norfolk. Gov. Dannel Malloy announced