General Provisions | Midpage3-11Salary and bond of Treasurer. Office of Treasurer full time.3-11aAuthority to enter into contractual agreements.3-12Deputy Treasurer.3-12aAppointment of officers and investment-related personnel.3-13Assistant treasurer for debt management. Additional assistant treasurer.3-13aInvestment department. Chief investment officer and other personnel. Investment counsel. Costs of department.3-13bInvestment Advisory Council. Treasurer's investment policy statement. Review of trust fund investments.3-13cTrust funds defined.3-13dTrust funds: Investment, restrictions, sale of call options. Consideration of political implications of particular investments in relation to U.S. foreign policy and national interests. Connecticut mortgage pass-through certificates. Certain contracts with life insurance companies.3-13eInvestment of trust funds in loans to mortgage lenders.3-13gDivestment of state funds invested in companies doing business in Iran.3-13hInvestments in companies doing business in Northern Ireland which have not implemented the MacBride principles.3-13iContracts for services related to investment of trust funds.3-13jThird party fees in investments by Treasurer or quasi-public agencies.3-13kDirection of third party fees by Treasurer prohibited. Personal use by Treasurer of broker's credits prohibited.3-13lFinder's fees in connection with state investments prohibited. Definitions. Penalties.3-14Management and sales of state property.3-14aTreasurer to administer trusts for counties.3-14bOption of municipality to purchase state-owned land prior to sale. Waiver of rights. Exceptions.3-15Sites for beacon lights and other buildings.3-16Temporary borrowing. Approval by Governor. Notice to committees of General Assembly.3-16aNotification to Treasurer prior to incurring financial obligation of state or entering into certain agreements. Acknowledgment.3-17Collection of state revenue. Issuance of bonds.3-18Use of facsimile of state seal on bonds.3-19Place of payment of state bonds.3-20State General Obligation Bond Procedure Act. State Bond Commission. Bond pledge and undertaking.3-20aRedemption or repurchase of bonds. Additional security.3-20bTrusteeships.3-20cCertain appropriations not to lapse.3-20dRequirements for issuance of tax-exempt obligations by agents of state government.3-20eProvision of secondary market disclosure information by political subdivisions of the state, municipalities and quasi-public agencies. Indemnification.3-20fState Bond Commission vote to authorize issuance of agricultural land preservation program bonds and bonds for general maintenance and trade and capital equipment for technical education and career schools.3-20gEconomic recovery notes to finance deficit in fiscal year 2009.3-20hBond authorization for accumulated deficit as determined using generally accepted accounting principles.3-20iDisposition of bond proceeds.3-20jCredit revenue bonds.3-21Bond limitation. Debt certification. Bond issuance limitation. Allotment limitation.3-21aJurisdiction of Superior Court in actions re bonds and notes. Defenses reserved to the state.3-21bTransfer to General Fund of bond proceeds from general obligation bonds of the state which are no longer required for designated purposes or projects. Report by Office of Policy and Management.3-21cTransfer of unexpended proceeds from transportation related general obligation bonds that are no longer required for designated purposes or projects.3-21dReport re public works construction projects receiving funding from bond proceeds. Unexpended amount.3-21eDivestment of state funds invested in companies doing business in Sudan.3-21f to 3-21zConn. Gen. Stat. § 3-21f to 3-21z3-22aDefinitions: College savings bonds.3-22bDesignation of bonds as college savings bonds.3-22cNegotiated sales of college savings bonds.3-22dTerms of issuance of college savings bonds.3-22eConnecticut Higher Education Trust Advisory Committee.3-22fConnecticut Higher Education Trust: Definitions.3-22gConnecticut Higher Education Trust: Established.3-22hTrust authority of the Treasurer.3-22iInvestment of funds in the trust.3-22jParticipation in and the offering and solicitation of the trust exempt from sections 36b-16 and 36b-22. Evidence of exemption from federal securities laws.3-22kTrust financial report.3-22lExemption from taxation.3-22mState pledge for purposes of the trust.3-22nNothing in trust or in any participation agreement deemed to guarantee admission to or continued enrollment in educational institution.3-22oCompliance with provisions necessary for trust to constitute state tuition program and be tax exempt.3-22pInvestments in trust not considered an asset for certain programs and purposes.3-22q to 3-22tConn. Gen. Stat. § 3-22q to 3-22t3-22uCHET Baby Scholars fund and program.3-23Destruction of matured bonds.3-23aReplacement of mutilated, destroyed, stolen or lost state obligations.3-24Deposit of funds.3-24iNotice to joint standing committee on finance, revenue and bonding of opening of bank accounts in certain other states.3-24jDefinitions.3-24kInvestments with community banks and community credit unions.3-24lRegulations.3-25Payment of public moneys. Designation of authority for certain payments to constituent units of the state system of higher education. Authorization for certain payments to be made by the assistant treasurer for investments.3-26Civil list funds; limitation.3-27aShort Term Investment Fund. Payment of certain interest to board or boards of trustees. Participation certificates.3-27bSale of certificates to state agencies.3-27cUse of fund for student loans.3-27dInvestment of funds of the Short Term Investment Fund.3-27eReport of grants, interest, etc. Payment of expenses and state banking service fees.3-27fInvestment by Treasurer in participation certificates. Legal investments.3-27hNotes.3-27iBonds and notes as legal investments.3-27jModification or suspension of contributions to the Short Term Investment Fund surplus reserve.3-28aMedium-Term Investment Fund.3-31aAuthorized investments.3-31bCombined investment funds. Sale of participation units. Costs charged to income.3-32Acceptance of gifts and bequests by Treasurer.3-33Acceptance of land for military purposes.3-34Vote on stock of state bank owned by state or School Fund.3-35No execution against Treasurer.3-36aConnecticut Baby Bond Trust: Definitions.3-36bConnecticut Baby Bond Trust: Established.3-36cTreasurer's trust authority.3-36dInvestment of funds in the trust.3-36eExemption from taxation.3-36fMoneys invested in trust not considered assets or income.3-36gAccounting for designated beneficiary. Claim for accounting.3-36hTransfer to trust upon birth of designated beneficiary.3-37Annual report of Treasurer. Monthly report of Treasurer.3-38Posthumous fund of Fitch's Home for the Soldiers. Fitch Fund. Use of income, and payment of claims from principal.3-39Flood Fund.3-39aFunds to be paid state recorded as receivables.3-39bInterest earnings on funds.3-39cInterest earnings credited to certain funds and accounts.3-39d to 3-39iConn. Gen. Stat. § 3-39d to 3-39i3-39jAchieving a better life experience program: Definitions.3-39kAchieving a better life experience program: Establishment. Trust. Report.3-39lTrust authority of the State Treasurer.3-39mInvestment of funds in the trust.3-39nExemption from certain securities laws.3-39oExemption from taxation.3-39pState pledge for purposes of the trust.3-39qCompliance with requirements for trust to constitute a qualified ABLE program.3-39rABLE account investments, contributions and distributions disregarded for certain programs and purposes.