Frequently Asked Questions

Generally, the University of Connecticut has planned a UCONN 2000 State Debt Service Commitment Bond Issue every spring.

Since 1996, University of Connecticut bonds generally have been issued in $5,000 denominations as fully registered book entry bonds, without physical certificates or coupons to clip. Bond transactions are recorded in electronic computerized book entry form by the Depository Trust Company (DTC), a New York limited purpose trust company and member of the Federal Reserve System. DTC is also a registered clearing agency under the Securities Exchange Act of 1934, and holds securities for participants. Direct Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. Purchase of the book entry bonds under the DTC system must be made by or through the Direct Participants who will receive a credit for the bonds on DTCs computerized records. The Direct Participants are in turn responsible for keeping accurate records of their individual clients’ holdings and issuing written transaction confirmations and periodic account statements to the individual clients. Under this system individual bondholders do not receive physical certificates representing their ownership of the bonds, but should receive account statements of their holdings from their securities broker.

Bond ratings depend on the security features of the particular bonds you wish to purchase. Some bonds with the same underlying ratings might have different credit ratings assigned to them by the rating agencies due to credit enhancements, such as bond insurance or letters of credit; or due to escrows that have been set up to pay principal and interest on refunded issues.
The most recent credit ratings for a particular municipal bonds can be obtained over the telephone from the following nationally recognized credit rating agenc agencies located in New York City. World wide web address are also given when available.

  • An interest or principal payment;
  • Whether any notices have been issued to call the bonds prior to maturity;
  • The registration of the bonds;
  • A bond that has matured;
  • A lost college savings bond certificate;
  • Or similar question;

Please call U.S. Bank, Global Corporate Trust Services Attn.: Bondholder Services – EP-MN-WS2N 111 Fillmore Avenue East St. Paul, MN 55107-1402 1-800-934-6802  Customer Service Representatives are available Monday -Friday, 8:00 am. to 6:00 PM. Central Time. as they are the Paying Agent for these bonds and is best suited to answer these questions for you.

The bonds issued by the Office of Treasury Services are of the ” double tax-exempt” category. In general for many individuals, the interest on these State of Connecticut tax-exempt bonds may be excluded from Connecticut taxable income for purposes of the Connecticut income tax on individuals, trusts and estates, and is also excludable from gross income in the calculation of Federal income taxes. However, the tax status of individuals vary. The State does not offer tax advice, and potential investors should consult their tax advisers to determine the tax treatment of any investments they have made or are contemplating making.
Individuals should consult their tax advisers or the Internal Revenue Service, or other taxation agencies as to tax treatment and reporting requirements. However, generally speaking, tax-exempt income is often required to be reported for informational purposes on tax forms even if not taxed.
University of Connecticut bonds are issued as fully registered book entry bonds, bonds, without physical certificates or coupons to clip, in $5,000 denominations. Bond transactions are recorded in electronic computerized book entry form by the Depository Trust Company (“DTC”), a New York limited purpose trust company and member of the Federal Reserve System. DTC is also a registered clearing agency under the Securities Exchange Act of 1934, and holds securities for participants. Direct Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. Purchase of the book entry bonds under the DTC system must be made by or through the Direct Participants who will receive a credit for the bonds on DTC’s computerized records. The Direct or Indirect Participants are in turn responsibile for keeping accurate records of their individual client’s holdings and issuing written transaction confirmations and periodic account statements to the individual clients. Under this system individual bond holders do not receive physical certificates representing their ownership of the bonds, but should receive account statements of their holdings from their securities broker.

Copies of Official Statements may be obtained, if they are still available, from your broker or by visiting http://www.munios.com/   or from  http://www.buyctbonds.com/Archived-Official-Statements.html or  by requesting one from UConn’s Office of Treasury Service 1-860-486-4429.

The UConn and the State also have agreed to provide certain disclosure information, including Official Statements, to Nationally Recognized Municipal Securities Information Repositories (“NRMSIR”) in accordance with the requirements of Rule 15c2-12 promulgated by the Securities and Exchange Commission (SEC),.

As of July 1, 2009, as directed by the SEC, the Municipal Securities Rulemaking Board (MSRB) has maintained a continuing disclosure service through its Electronic Municipal Market Access (EMMA) system.

The MSRB EMMA continuing disclosure service provides to the public, free of charge, electronic access to primary municipal market disclosure documents, ongoing disclosures, trade data, and other related information on the EMMA website at www.emma.msrb.org.

Information about the State and its bonds including some UConn bond issues  may be found at www.buyctbonds.com

 For additional information, send email to:

John D. Sullivan, CFA
Manager of Treasury Services
Email: john.d.sullivan@uconn.edu

Or:

Kimberly Masson
Assistant to the Manager of Treasury Services
Email:kimberly.masson@uconn.edu