What are Special Tax Obligation Bonds and the Special Transportation Fund?
Through the issuance of Senior and Second Lien Special Tax Obligation Bonds, the State of Connecticut provides capital funding for its Transportation Infrastructure Program, which is a continuous program which finances the ongoing requirements of the State for the planning, acquisition, removal, construction, equipping, reconstruction, repair, rehabilitation and improvement of, and acquisition of easements and rights-of-way with respect to, State highways and bridges, projects on the interstate highway system, alternate highway projects in the interstate highway substitution program, waterway facilities, mass transportation and transit facilities, aeronautic facilities (excluding Bradley International Airport), the highway safety program, maintenance garages and administrative facilities of the Department, payment of the State’s share of the costs of the local bridge program, and payment of the State contributions to the local bridge revolving fund. Both Senior and Second Lien Special
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