Presidential watch party

Hartford, CT – Connecticut Treasurer Erick Russell announced the results of a successful $936 million State of Connecticut General Obligation (GO) Bond offering on Wednesday. The bonds will fund a variety of capital improvements and grant programs across Connecticut including $440 million for school construction and grants to educational institutions.

“Bond sales help shape the future of our state and make key investments in what we value most,” said Treasurer Russell. “This sale will fund the construction of schools, support our education system, strengthen local infrastructure, and uplift programs benefitting residents across the state. Demand from investors generated orders far exceeding the bonds offered during this sale, demonstrating Connecticut’s sustained strength in the market.”   

Of the $800 million in new money bonds, $240 million were offered as “Social Bonds” dedicated to school construction. An additional $136 million of bonds will refinance existing debt, saving taxpayers approximately $15 million over the coming decade.

About the Sale

The $800 million new money bond offering consisted of $560 million of 2024 Series F Tax-Exempt Bonds and $240 million 2024 Series G Tax-Exempt Social Bonds. In addition, $136 million of 2024 Series H Tax-Exempt bonds were sold to refund two series of outstanding callable General Obligation bonds.

Retail Order Period

Treasurer Russell gave retail investors priority on the bonds during a dedicated one-day retail-only order period on Tuesday, October 8. The state worked with a Connecticut marketing firm, Miranda Creative, to advertise the sale through print and digital media culminating in retail orders totaling $322 million, including $121 million from Connecticut investors.

Orders and Interest Cost

Despite volatility in the municipal bond market earlier in the week, the state attracted more than $2.9 billion in total orders from both retail and institutional investors, exceeding by nearly three times the amount of bonds being offered. The Social Bonds were particularly attractive to investors, securing $1.4 billion in total orders. This significant investor response is an indication of Connecticut’s growing strength in the market following multiple credit rating upgrades and positive outlooks in recent years and produced a 3.50% borrowing cost on the 20-year 2024 Series F and G Bonds and a 2.85% borrowing cost on the ten-year 2024 Series H Refunding Bonds.  These lower borrowing costs make state investments in capital improvements and grant programs more cost-effective for taxpayers.

Projects Funded

The 2024 Series F and 2024 Series G Social bonds will fund:

• $240.0 million for School Construction
• $200.0 million for Grants to Schools and Higher Education
• $112.6 million for Grants-in-Aid to Municipalities for Qualified Infrastructure Projects
• $ 68.9 million for Health Centers and Mental Health Facilities
• $ 58.4 million for Improvements to State-owned facilities
• $ 45.0 million for State Grants for Clean Water Projects
• $ 30.5 million for University of Connecticut Nursing Program Facility
• $ 15.1 million for Economic and Community Development
• $ 8.6 million for Connecticut Manufacturing Innovation Fund
• $ 6.5 million for Grants and Loans to Non-Profit Organizations
• $ 5.0 million for Crumbling Foundations Assistance Program
• $ 3.5 million for the Neighborhood Revitalization Investment Program
• $ 3.0 million for Connecticut Convention Center upgrades
• $ 2.9 million for Grants for Improvements to Ports, Harbors, and Marinas

Summary of GO Credit Ratings

Prior to the bond sale, all four credit rating agencies affirmed the State’s GO credit ratings.  Moody’s Investors Service affirmed its “Aa3” rating, with a Positive Outlook; S&P Global Ratings affirmed its “AA-” rating, with a Stable Outlook; Fitch Ratings affirmed its “AA-” rating, with a Positive Outlook, and Kroll Bond Ratings affirmed its “AA+” rating with a Stable Outlook.

Siebert Williams Shank & Co., LLC led the bond underwriting syndicate that sold the bonds, which are scheduled to close on October 23, 2024.

More information on the State’s bonding program is available at www.buyctbonds.com.

Governor Ned Lamont today announced that the Connecticut National Guard is preparing to send additional resources to North Carolina in response to a request from that state for further assistance with Hurricane Helene disaster response.

The Connecticut National Guard’s Bravo Company, 2-104^th Aviation, 1-169^th Aviation Regiment will be sending one additional CH-47 Chinook helicopter, one UH-60 Blackhawk helicopter, and an aircrew of 16 soldiers to Salisbury, North Carolina, where they will assist with moving commodities to stranded communities in the state’s western region. The two helicopters and their aircrews are scheduled to depart from the Army Aviation Support Facility in Windsor Locks, Connecticut, on the morning of Friday, October 4, 2024, and they are expected to be deployed for approximately one week.

This planned deployment comes in addition to last week’s deployment to North Carolina of two other teams from Connecticut. Those teams include a five-soldier flight crew and one CH-47 Chinook helicopter from the Connecticut Army National Guard’s 1-169^th Aviation Regiment, and an eight-member urban search and rescue team coordinated by the Connecticut Division of Emergency Management and Homeland Security. Both of those teams deployed on Friday, September 27, 2024.

“Connecticut is prepared to lead by example and deliver assistance to our neighbors during times of emergency,” Governor Lamont said. “The soldiers from the Connecticut National Guard have always been ready to respond to any crisis here in our state whenever the need arises, and I am very thankful that they have accepted this mission to help our friends in North Carolina. I look forward to their safe return.”

“I want to extend my deepest thanks to the soldiers of Bravo Company, 2-104^th Aviation, 1-169^th Aviation Regiment that have been assisting the residents and first responders of North Carolina over this past week for their incredible hard work and dedication with the disaster relief efforts,” Major General Francis Evon, the commander of the Connecticut National Guard, said. “Their courage and commitment in the face of adversity have made a true difference for those in need, and I couldn’t be more proud of what they have accomplished. As we send two more aircraft and additional soldiers to North Carolina for further assistance, I have full confidence that the Connecticut National Guard will continue to have a significant positive impact on the hurricane relief and recovery efforts. The selfless service of our Guardsmen is a testament to the strength and resilience of Connecticut’s Home Team. I thank each of them for their unwavering dedication to our mission and our nation.”

The unit is deploying under the authorization of the Emergency Management Assistance Compact (EMAC), a mutual aid system among states and territories for lifesaving resources during natural and man-made disasters. In Connecticut, EMAC is implemented by the Connecticut Division of Emergency Management and Homeland Security on behalf of the governor.

The 1-169^th Aviation Regiment’s mission is to mobilize and deploy to conduct Air Movement, Air Assault, MEDEVAC, Combat Support and Combat Service Support in support of Aviation operations throughout the designated area of responsibility. The unit is stationed in Windsor Locks at the Army Aviation Support Facility and most recently returned from a mission to Afghanistan in 2019-2020.

in anticipation of potential severe weather from Hurricane Helene, the City of Atlanta has taken proactive measures to help protect residents. We urge everyone to monitor local weather advisories and take precautions in case of flooding. Stay informed and prioritize your safety as this storm approaches.

Important Steps to Take:

• Secure Outdoor Items: Bring in loose items from balconies, patios, and outside areas.
• Prepare Emergency Supplies: Stock up on essentials like water, non-perishable food, medications, flashlights, and first aid supplies.
• Stay Informed: Follow local news and weather alerts from the National Weather Service.
• Charge Devices: Ensure phones and other devices are fully charged in case of power outages.
• Follow Evacuation Orders: If authorities issue evacuation instructions, act immediately.

City of Atlanta Departmental Updates - 6:00 PM, Wednesday, September 25

Note: City offices are closed for in-person business on Thursday, September 26.

Watershed Management

• Proactively preparing since learning of Hurricane Helene’s potential impact.
• Emergency response teams are in place to address any issues.
• Monitoring water flow in known flooding hotspots.
• Conducting routine maintenance and concentrated cleaning of storm water drains to prevent blockages.

Parks & Recreation, Forestry Team

• Coordinating with Public Works (DPW), the Department of Transportation (ADOT), and Atlanta Fire Rescue for tree removal and storm debris management.

Public Works (DPW)

• Cleaning drainage systems ahead of expected heavy rainfall.
• Moved vehicles to higher ground.
• Implemented a 24/7 staffing plan to ensure continuous coverage throughout the emergency.

Atlanta Department of Transportation (ADOT)

• Cleared bridge and curb inlets in areas expected to flood.
• Chainsaw crews are on standby for downed tree removal.
• Barricades are strategically positioned for quick deployment.

E-911 Operations

• Activated severe weather action plan with operators ready to shelter in place if necessary.
• The Westin Hotel has offered accommodations for E-911 staff during the storm.

 Atlanta Fire Rescue Department

• Prepared for swift water rescues and downed tree removal.
• Vehicles are fueled and ready to respond.

Atlanta Police Department (APD)

• Chief Schierbaum has deployed extra supplies to precincts.
• Shelter-in-place locations are being identified for essential staff.
• APD is ready to respond to any safety emergencies during the storm.

ATL311 and Remote Staff

• ATL311 will operate outside normal hours, from midnight to 7 AM on Thursday, providing 24-hour access to information.
• Remote staff provided with mifi devices in case of power loss.

Hartsfield-Jackson Atlanta International Airport

• Plans in place for potential flight cancellations and stranded passengers.
• Concessionaires are prepared to stay open to serve passengers, crews, and workers as needed.

Parks and Recreation Facilities

• All activities at Parks and Recreation facilities are canceled Thursday.

Emergency Alerts

• Residents can sign up for emergency alerts by texting NOTIFYATL to 2463

                                                Hurricane Helene Tracker

Treasurer Erick Russell will deliver keynote remarks at the United Way of Coastal and Western Connecticut’s 2024 Impact Breakfast on Tuesday in Norwalk. The event is being held to celebrate the achievements of the organization and to unveil its new strategic plan. Treasurer Russell’s remarks will connect the mission of the United Way with work being done in the Office of the Treasurer to strengthen economic participation across Connecticut.

What:   Treasurer Russell Delivers Keynote at United Way Event

When:   Tuesday, September 17, 2024
                        8:00 AM – 9:30 AM

Where:  Pinstripes
           100 North Water St.
           Norwalk, CT

Interactive Design Charrette!
Be part of shaping the future of our community! This multi-day event will offer flexible drop-in sessions and evening presentations.
Kickoff Meeting: September 9th, 5:30 PM - 7:30 PM at Robert T. Wolfe Apartmen 

HARTFORD, CT) – Governor Ned Lamont today announced that he has submitted a request to President Joe Biden and the Federal Emergency Management Agency (FEMA) seeking a federal emergency declaration for Fairfield County, New Haven County, and Litchfield County in response to the extreme flooding from the historic rainfall that portions of Connecticut received earlier this week.

The governor is requesting under such a declaration the support of direct federal assistance to supplement the state and its municipalities in meeting critical emergency protective requirements and providing restorative efforts that defend public safety. This includes a request for the U.S. Army Corps of Engineers to provide support for the repairing of dozens of bridges, dams, and other infrastructure, as well as for the Environmental Protection Agency to provide support in response to the numerous oil tanks, propane cylinders, vehicles, vessels, and drums that are floating in multiple waterways. Additionally, the governor is also requesting assistance from the Federal Highway Administration for the numerous destroyed and compromised state roads.

Crews from the Connecticut Department of Transportation, with the support of their local partners, have been working since the immediate aftermath of the storm to assess, clean, and repair washouts on state roads where possible, as well as to secure these areas to prevent further damage. The state agency has also begun the process of developing plans for the repairing of the severely damaged Route 34 so that it can be reopened, as well as for other structures that need to be replaced.

Under his authority, Governor Lamont declared a civil preparedness emergency in response to the flooding on Monday.

“This was an extreme amount of rainfall in an incredibly short period of time that resulted in historic levels of flooding in western Connecticut,” Governor Lamont said. “Our state experienced two fatalities in which people were swept away from flood waters, and first responders bravely rescued and evacuated hundreds of people during and after the storm. Scores of state and local roads are washed away or compromised, dams and bridges have been affected, and oil tanks, vehicles, and other hazardous items were flooded into waterways. I appreciate President Biden and FEMA for considering this request to assist our state and municipalities with the immediate effort to protect public safety in the aftermath of this devastation.”

This request for a federal emergency declaration is not to be confused with a request for a FEMA major disaster declaration, which could provide federal funding to support homeowners, businesses, and local and state governments with financial assistance for the costs of repairing and rebuilding infrastructure damaged in the storm. That type of declaration requires the state and local governments to provide FEMA with a detailed accounting of all public and uninsured private property damage incurred as a direct result of the storm and a cost estimate that can determine whether certain thresholds have been met. That process typically takes several weeks to complete, and the Lamont administration is already working with municipalities to conduct it. Any homeowners and business owners who experienced damage to their property from this storm are strongly urged to contact their town’s local emergency management office as soon as possible so that their damages can be documented as part of this effort.

**Download: Governor Lamont’s request for a federal emergency declaration

“Throughout this afternoon and evening, I have been working with our state’s emergency management team to coordinate with mayors, first selectmen, and other municipal officials on any immediate response needed due to the severe and sudden rainfall that has impacted our state today. So far, our urban search and rescue teams have helped at least 100 people evacuate unsafe conditions. We will continue helping towns with any resources they need to immediately respond and keep the public safe.

Sonya Massey, a beloved mother, friend, daughter, and young Black woman, should be alive today. Sonya called the police because she was concerned about a potential intruder. When we call for help, all of us as Americans – regardless of who we are or where we live – should be able to do so without fearing for our lives. Sonya’s death at the hands of a responding officer reminds us that all too often Black Americans face fears for their safety in ways many of the rest of us do not.

Sonya’s family deserves justice. I am heartbroken for her children and her entire family as they face this unthinkable and senseless loss. Jill and I mourn with the rest of the country and our prayers are with Sonya’s family, loved ones, and community during this devastating time.

I commend the swift actions that were taken by the Springfield State’s Attorney’s office. While we wait for the case to be prosecuted, let us pray to comfort the grieving. Congress must pass the George Floyd Justice in Policing Act now. Our fundamental commitment to justice is at stake.

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Governor Ned Lamont today announced that he has signed an executive order directing the establishment of the Connecticut Office of Equity and Opportunity – a new state office that will be responsible for leading Connecticut’s efforts to ensure that state government is a leader in equity and inclusion with the goals of eliminating institutional and systemic barriers and creating opportunity and access for all those it serves and employs.

Administratively held within the Office of the Governor and funded through existing appropriations, the Office of Equity and Opportunity will be led by a chief equity and opportunity officer who will be appointed by the governor and responsible for coordinating a number of activities prescribed in the executive order related to ensuring that state government offices are representative of the people they serve and that people from different racial, ethnic, gender, geographic, and socioeconomic backgrounds have a voice in the decision-making processes concerning the policies and practices of state government.

“I firmly believe that government should actively seek out and engage with individuals and opinions beyond those who typically have access and opportunity because doing so will create a stronger workforce within government while also crafting more effective and representative public policies,” Governor Lamont said. “State government is accountable to the public and we have a responsibility to maintain trust and confidence by demonstrating our commitment to fairness, inclusivity, and social progress. By doing everything we can to create a fair, equitable, and inclusive environment representative of the people who live in our state, we can address historical and ongoing disparities and promote social justice.”

The executive order directs the chief equity and opportunity officer to:

• Serve as the coordinator of the state’s diversity, equity, and inclusion strategy;
• Support equity-oriented efforts throughout the state to ensure services and resources are available and accessible to all in Connecticut;
• Conduct comprehensive assessments of current and proposed policies and practices of state agencies to identify areas where disparities exist, and where underserved communities may face barriers to accessing services;
• Develop a formal process for the development and implementation of agency equity plans;
• Coordinate the publication of agency equity plans on a centralized and easily accessible website;
• Develop equity-oriented systems, policies, and procedures that operationalize diversity, equity, inclusion and support sustainable practices within state agencies;
• Identify diversity, equity, and inclusion trainings opportunities for all state employees;
• Develop statewide diversity, equity, and inclusion benchmarks and measures of progress;
• Oversee and provide guidance to state agencies on how to engage and incorporate the perspectives of underserved communities;
• Partner with state agencies to ensure communications with residents are culturally and linguistically appropriate and accessible;
• Integrate equity considerations into the budget process and assess the impact of budget decisions; and
• Provide strategies to promote equitable contracting and purchasing practices.

Additionally, the executive order directs all state employees to participate in trainings focused on diversity, equity, and inclusion as coordinated by the chief equity and opportunity officer. It also directs all state agencies to develop an agency equity plan with the assistance of the chief equity and opportunity officer.

“State government has a responsibility to approach our work through an equity lens,” Connecticut Department of Administrative Services Commissioner Michelle Gilman said. “This executive order is an important step forward as we work to ensure that every person who seeks state services or employment is greeted with equal opportunity. I look forward to working with the chief equity and opportunity officer on these critical efforts.”

“We thank Governor Lamont for underscoring his commitment to equitable government,” Pareesa Charmchi Goodwin, executive director of the Connecticut Commission on Racial Equity in Public Health, said. “Leadership buy-in from the very top is imperative to ensuring that equity initiatives are prioritized and implemented. We are proud to see our recommendations and the work of many leaders across the state reflected in today’s executive order.”

In the coming weeks, the Office of the Governor will post a job listing on the State of Connecticut Executive Branch online job portal seeking candidates to apply for the position of chief equity and opportunity officer. Governor Lamont stressed that he does not yet have a candidate for the position and encourages interested candidates of all backgrounds to apply.

Multiple agencies