The Office of the State Treasurer says that it worked with teachers’ union officials, the Governor’s Office and the Office of Policy and Management on pension changes that union officials are now telling their members are “illegal.” Language included in
State Treasurer’s Office
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.