City of HartfordDebt Service Profile

March 23, 2015

Hartford Debt Profile

• The City of Hartford financed new money $82,000,000 General Obligation (GO) Bonds and $50,000,000 General Obligation Bond Anticipation Notes in October, 2014. The City received a record-low true interest cost (TIC) of 3.112% and a record-low all-in TIC of 3.154%.

• The City then issued GO refunding bonds in November, 2014 to currently refund its outstanding Series 2003 Bonds and advance refunded its eligible Series 2007 Bonds. The refunding achieved a total PV savings rate of 3.716% and saved the City nearly $1.5 million over the next 12 fiscal years.

• The City previously issued GO refunding bonds in April, 2013 to advance refund all eligible bonds due in fiscal years 2014 through 2018. The refunding generated over $56.5 million in budgetary savings through fiscal year 2018 with a TIC of less than 3.500%.

• In January, 2015, the City created the Hartford Stadium Authority to issue lease revenue bonds to finance a portion of the construction costs to build a minor-league baseball stadium in the Downtown North area. The annual debt service of these bonds is approximately $4.265 million.

• The City has an outstanding debt profile of $475,190,000 as of March 23, 2015. Of those bonds, $175,140,000 are advance refundable and callable, while an additional $92,080,000 are eligible for redemption when currently callable.

Overview

1

Hartford Debt Profile

20152016

20172018

20192020

20212022

20232024

20252026

20272028

20292030

20312032

20332034

20352036

20372038

20392040

20412042

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

GO Debt Service Revenue-backed GO Debt Service HSA Debt Service

Current Debt Service

2

Hartford Debt Profile

20152016

20172018

20192020

20212022

20232024

20252026

20272028

20292030

20312032

20332034

20352036

20372038

20392040

20412042

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

Taxable Issues including BABs Non-Adv Refundable, Non-Callable Non-Adv Refundable, Callable

Adv-Refundable, Non-Callable Adv-Refundable, Callable

Current Debt Service by Refunding Status

3

Hartford Debt Profile

20152016

20172018

20192020

20212022

20232024

20252026

20272028

20292030

20312032

20332034

20352036

20372038

20392040

20412042

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

Taxable Issues including BABs Non-Adv Refundable, Non-Callable Non-Adv Refundable, Callable

Adv-Refundable, Non-Callable Adv-Refundable, Callable

Current Principal by Refunding Status

4

Hartford Debt Profile

20152016

20172018

20192020

20212022

20232024

20252026

20272028

20292030

20312032

20332034

20352036

20372038

20392040

20412042

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

2015-B HSA 2015-A HSA 2014-C 2014-B 2013-B 2013-A 2012-B 2012-A 2011-A 2010-A 2009 2009-A 2007-A 2005-C2005-B REV 2005-A REV 2003

Current Debt Service by Series

5

Hartford Debt Profile

20152016

20172018

20192020

20212022

20232024

20252026

20272028

20292030

20312032

20332034

20352036

20372038

20392040

20412042

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

$50,000,000

2015-B HSA 2015-A HSA 2014-C 2014-B 2013-B 2013-A 2012-B 2012-A 2011-A 2010-A 2009 2009-A 2007-A 2005-C2005-B REV 2005-A REV 2003

Current Principal by Series

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+10%+8%+6%+4%+2%

97.00%-2%-4%-6%-8%

-10%

100.0%99.6%98.0%

94.0%88.4%

84.5%78.5%

70.9%58.6%

44.6%18.3%

Mar

-14

Apr-14

Apr-14

May

-14

May

-14

Jun-1

4

Jun-1

4Ju

l-14Ju

l-14

Aug-14

Aug-14

Sep-1

4

Sep-1

4

Oct-14

Oct-14

Oct-14

Nov-14

Nov-14

Dec-1

4

Dec-1

4

Jan-1

5

Jan-1

5

Feb-1

5

Feb-1

5

Mar

-15

80

85

90

95

100

105

110

97.0

91.2

Municipal to Treasury Yield Ratios10-Year Maturity Over the Previous 12 Months

Note: Reflects market conditions as of March 20, 2015Source: Municipal Market Data and Bloomberg Information Systems

Mar

-14

Apr-14

Apr-14

May

-14

May

-14

Jun-1

4

Jun-1

4Ju

l-14Ju

l-14

Aug-14

Aug-14

Sep-1

4

Sep-1

4

Oct-14

Oct-14

Oct-14

Nov-14

Nov-14

Dec-1

4

Dec-1

4

Jan-1

5

Jan-1

5

Feb-1

5

Feb-1

5

Mar

-15

1.5

2.0

2.5

3.0

3.5(%)

1.94%2.00%

10-Yr AAA MMD

10-YrTreasury

HistoricalAverage

10-YrRatio

+ 50 bps+ 40 bps+ 30 bps+ 20 bps+ 10 bps

2.00%- 10 bps- 20 bps- 30 bps- 40 bps- 50 bps

61.4%48.6%

35.9%26.7%

17.5%12.4%

6.4%2.4%

0.8%0.0%0.0%

%Time 10 Year Treasury Yield Lower

%Time 10 Year Maturity Ratio Lower

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