It is hereby found and declared that a continuing need exists to maintain and develop the state‘s economy; that there are significant barriers inhibiting access by the authority and eligible financial institutions to the public capital markets and inhibiting expansion of the secondary loan market to assist in financing economic development and other projects in the state; that the establishment of the Revenue Bond Mortgage Insurance Fund, financial assistance by the state in support of the insurance fund and the exercise by the authority of the powers granted in this chapter, will promote economic development by increasing access to the public capital markets for the authority; and that therefore the necessity in the public interest and for the public benefit and good for the provisions of this chapter and chapter 579, is hereby declared as a matter of legislative determination.

Terms Used In Connecticut General Statutes 32-60

  • insurance fund: means the Revenue Bond Mortgage Insurance Fund created under §. See Connecticut General Statutes 32-61
  • loan: means loans, notes, bonds or other forms of indebtedness related to the financing or refinancing of a project by the corporation or an eligible financial institution, or any participation or other interest therein, however evidenced, or any pool or portion of the foregoing. See Connecticut General Statutes 32-61
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • state: means the state of Connecticut. See Connecticut General Statutes 32-61
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