Connecticut

The Democratic leadership of the Connecticut General Assembly has called for direct talks with Gov. M. Jodi Rell over the $500 million fiscal 2010 budget deficit.

Connecticut Gov. M. Jodi Rell yesterday proposed the construction of a new hospital and health care facilities that would use $227 million of state general obligation bonds and other funding sources.

The Connecticut Housing Finance Authority plans to begin selling $275 million of bonds today in a deal that will help effectively establish a revolving fund.

Connecticut Gov. M. Jodi Rell yesterday called for a new bond program that would guarantee loans to business owners as part of a package of budget proposals.

Connecticut Gov. M. Jodi Rell yesterday called for an expiration date on unused bond authorizations and for new restrictions on the state’s budget reserve fund. The measures will be included in her budget proposal to be presented today before the General Assembly.

Yale University got the green light yesterday to bring $800 million of tax-exempt bonds to market next month, though the offering is expected to be considerably smaller.

Connecticut is tapping new bond programs to set the stage for a large-scale waterfront development in Stamford.

Connecticut Gov. M. Jodi Rell last week announced the state had identified buildings and parcels of land to be sold to raise money under its enacted budget.

A federal appeals court last week rejected an appeal filed by William A. ­DiBella, former majority leader of the Connecticut Senate, and his consulting firm, North Cove Ventures LLC, to overturn a 2007 jury verdict and judgement against them for their involvement in a fraudulent pay-to-play scheme in connection with the state’s pension fund.

Connecticut will round out the year with a new public-private partnership for highway service plazas. In December, a consortium will take over operations of 23 service plazas and sink in millions of dollars to upgrade the facilities.

Connecticut is in the market this week with $600 million of tax-exempt general obligation notes to finance the state’s fiscal 2009 budget deficit. Institutional sales begin tomorrow and follow a two day retail order period that began on Friday.

Yale University priced $1 billion of five-year taxable fixed-rate notes yesterday. The notes, which will mature in five years, will be used to take out $560 million of taxable commercial paper and provide working capital.

Connecticut Gov. M. Jodi Rell yesterday called on lawmakers to cut spending in light of Moody’s Investors Service decision Monday to lower the state’s rating outlook to negative.

Connecticut has designated 62 communities as eligible to use the state’s $225 million allocation of recovery zone bonds, Gov. M. Jodi Rell announced last week.

Construction costs for an major part of the New Haven Rail Yard could come in lower than recent estimates, Connecticut Gov. M. Jodi Rell said last week. The lowest construction bid for a 293,000-square-foot maintenance facility to service newer Metro-North commuter trains came in at $124.8 million from O&G Industries of Torrington. The most recent estimate of the “change-out” where the trains will be maintained had been put at $291.5 million by a firm hired last year.