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Bond proceeds provided for the partial refunding of the System's 2007 Series I bond issue, and to fund a variety of projects at the four universities. The largest projects consist of a renovation project at WCSU to convert a classroom building into a new student center, and construction of a new parking garage with approximately 600 spaces at CCSU.
The bonds were sold via a competitive sale, with UBS Financial Services as the winning bidder for the Series Q-1 issue, and Bank of America Merrill Lynch as the winning bidder for the Series Q-2 issue. The refunding achieved over $3.8 million in net present value savings.
For further information, search EMMA for this issue.