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Malloy’s Final Bond Commission Agenda: $111M in New GO Bonds, for Total of $2B in 2018

December 12, 2018 By Staff
Malloy’s Final Bond Commission Agenda: $111M in New GO Bonds, for Total of $2B in 2018

The state Bond Commission has authorized nearly $4 billion in bonds over the last two years, but December's agenda was the smallest in that time frame.

On Tuesday, the state Bond Commission met for the last time in Gov. Dan Malloy’s (D-Conn.) eight-year tenure.

The Bond Commission, made up of 10 members – four constitutional officers, four legislators, and two state cabinet officials – approved dozens of general obligation (GO) bond items totaling more than $111 million, and one Special Tax Obligation (SBO) bond item for transportation totaling more than $91 million.

The Bond Commission closed out the year allocating more than 99.6 percent of their cap, which for 2018 was just over $2 billion. In 2017, the commission allocated more than 97 percent of their $2-billion cap.

December’s GO bond commission agenda of $111 million was actually the smallest of nine Bond Commission meetings in 2017 and 2018, according to the legislature’s non-partisan Office of Fiscal Analysis (OFA). The STO bond commission agenda of $91 million was the second-smallest of nine Bond Commission meetings in 2017 and 2018.