Connecticut’s bond commission will consider two transactions totaling $1.47 billion at a meeting on Wednesday. Also on the commission’s agenda are allocations for projects totaling $1.08 billion. The allocations allow state and local government agencies to begin contracting and spending on projects that would later be financed with bond proceeds.

The largest transaction to be considered will be a $950 million special tax obligation deal that includes $600 million of new money and up to $350 million of refunding. The state issues special tax obligation bonds — secured by transportation-related taxes and fees — for transportation projects. Pending approval, the deal is expected to price before the end of 2010.

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