University of Connecticut General Obligation Bonds 2023 Series A and Refunding Series A
General Obligation Legal Provisions and Flow of Funds (1)
The 2023 Bonds are general obligations of the University for the
payment of which, in accordance with their terms, the full faith
and credit of the University are pledged and payable from all
Assured Revenues
Assured Revenues include the State Debt Service Commitment as
well as revenues from fees, tuition and other like charges, grants
and gifts, not otherwise pledged
The State Debt Service Commitment is equal to the interest and
principal due on the 2023 Bonds appropriated out of the
resources of the State's General Fund and mandated and
obligated to be paid by the State Treasurer
Such appropriation, mandate and obligation of payment from the
State's General Fund are valid and do not require further
legislative approval
The University, consistent with the Act, is relying upon the receipt
of the annual amount of the pledged State Debt Service
Commitment for the payment of the 2023 Bonds and,
accordingly, is not planning to budget for the payment of the
2023 Bonds
Pursuant to the Act, the 2023 Bonds do not constitute a debt or
liability of the State or any municipality thereof and neither the
faith and credit nor taxing power of the State or any municipality
is pledged to the payment of principal of or interest on the 2023
Bonds
The University has no taxing power
State Debt Service
Commitment directly
deposited on or before
12 Noon, Hartford, CT
time on the Interest and
Principal Payment Dates
University deposits
amounts, as needed and
from time to time, for:
UCONN
Flow of Funds
-
STATE OF CONNECTICUT
BUSTINET
TRANSTULIT
TREASURER'S OFFICE
Debt Service Fund
Interest Account
- Principal Installment
Account
Renewal and
Replacement Fund
Redemption Fund
(1) POS pp. 3-4 and POS Appendix I-B-pp. B-8-12
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