The Connecticut Housing Finance Authority (the “Authority”), pursuant to statutory authority and specific authorization under its General Housing Mortgage Finance Program Bond Resolution, intends to purchase in one or more transactions, either directly from investors in the open market, from liquidity banks, or as a purchaser in a remarketing, all or any part of various maturities of its taxable variable rate demand Housing Mortgage Finance Program Bonds, 2002 Series A Subseries A-5 (CUSIP 207748WX8), at present outstanding in a principal amount of $24,350,000 (the “VRDOs”), in each case at a purchase price of par plus accrued interest.
The Authority intends to hold such VRDOs, and not cancel them, until the time the Authority determines they are to be remarketed (or redeemed). Future remarketings of VRDOs on behalf of the Authority may include VRDOs previously purchased by the Authority pursuant to this program. At the time of any such future remarketing, the Authority will provide appropriate current disclosure to the buyers in such remarketing consistent with its disclosures contained in Official Statements. The Authority expects to commence this program of purchasing VRDOs on or about February 24, 2009. Within two business days after any such purchase, the Authority intends to file notice with Nationally Recognized Municipal Securities Information Repositories, and on the Authority’s web site (
www.chfa.org), of the specific amount of VRDOs actually purchased and the date of purchase. In addition, during the period this purchase program continues, the Authority will file on such sites, on a monthly basis, a reminder notice substantially in the form of this Notice. The Authority may continue purchasing VRDOs pursuant to such notice(s) until such time that the Authority files a notice that it is terminating its purchase program.