The Connecticut Housing Finance Authority (the "CT HFA") is expected to come to market with $65 million1 in Subseries D-1 Housing Mortgage Finance Program $6 million1 in Subseries D-2 AMT Bonds (collectively, the "Bonds").
The proceeds of the Bonds are expected to be used to (i) replace and/or refund certain current and/or future maturities of outstanding bonds to be paid at maturity or to be redeemed by special and/or optional redemption, which bonds were initially issued in part to finance certain home Mortgage Loans, (ii) provide new monies for the financing of permanent home Mortgage Loans, and (iii) pay certain costs of issuance. See the Preliminary Official Statement for details.
The Bonds are general obligations of the CT HFA, payable from revenues derived by the CT HFA from the operations of its Housing Mortgage Finance Program together with all other monies legally available to restore the Housing Mortgage Capital Reserve Fund. The CT HFA has no taxing power. The Bonds do not constitute a debt or liability of the State or a pledge of its faith and credit or taxing power.
The bonds are subject to optional and mandatory sinking fund redemption prior to maturity as described in the Preliminary Official Statement.
The bond sale offers attractive benefits to individual investors including prices and yield that match those available to institutional investors and the potential for stable income through the call dates. And, for Connecticut residents, federal and state tax-exemption on the Subseries D-1 and Subseries D-2 (subject to AMT) bond coupon payments.
How to place an order
The offer is expected to price the week of July 15, 20191, either online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity AlertsLog In Required or visit our Municipal Bond New Issue offerings page.