Connecticut Gov. M. Jodi Rell Tuesday postponed a meeting of the State Bond Commission until Aug. 17 after a member complained about lack of information.
State Rep. Vincent Candelora, R-East Haven, wrote in a letter to his fellow commission members that he had been unable to get information from the treasurer’s office on the status of bond anticipation notes Connecticut issued in 2009.
“I trust this extra time will give the treasurer’s office time to answer any and all questions from Bond Commission members,” Rell said in a press release. Candelora wrote that he had requested information from the treasurer’s office on $700 million of Bans the state authorized last year. He asked whether those had been rolled over or paid off using the state’s surplus but said he did not receive an answer.
“Our cash-flow position has improved. We have a surplus. I would think those Bans would have to be retired,” Candelora said in an interview.
The Bans that Candelora referred to are from an April 2009 note issuance of $581.2 million that was smaller than originally authorized. One series of those notes with a par of $353.1 million matured in April 2010 and was rolled over with a new issuance of one-year Bans, according to official statements posted on the Municipal Securities Rulemaking Board’s EMMA site.
The commission was scheduled to consider authorizing two transactions totaling $1.47 billion and allocations for projects totaling $1.08 billion.
Candelora wrote that he was inclined to vote against further bond authorizations because he said the state may have enough authorized to meet its capital needs.
Calls to Treasurer Denise Nappier’s office were not immediately returned on Tuesday.