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No, CHEFA is funded by an annual loan servicing fee charged to its borrowers.
Freedom of Information Requests (FOI) are governed by Chapter 14 of the Connecticut General Statutes. Please refer to the state website for the "Freedom of Information Act" and a complete description of the FOI process and what is covered by the Act.
If you are interested in making an FOI request, your request must be made in writing, you must specify what you are looking for and you may be charged by CHEFA (as provided in the Act) for copies of documents. Your written request must be directed in writing to CHEFA FOI Requests, 10 Columbus Blvd., 7th Floor, Hartford, CT 06106 or via e-mail to FOI@chefa.com.
CHEFA requires an upfront fee of $20,000 submitted with your application. This fee includes a $5,000 application fee and $15,000 that will be applied to bond issuance costs at closing.
It will probably result in higher insurance premiums charged by those insurers still underwriting municipal bonds and more restrictive bond issue covenants.
It is a public hearing required by the IRS held before the Governor can approve the issuance by CHEFA of tax-exempt debt. The hearing gives the public an opportunity to comment on the use of the tax-exempt funds by the borrowing institution to finance its capital needs. For more information see our overview page on the TEFRA Process.