About Hartford Investor Relations
The City of Hartford was founded by Thomas Hooker and his followers in 1635 and incorporated in 1784. It is the capital of the State of Connecticut and the core of a metropolitan area of over one million people. It is the birthplace of the Boys & Girls Club, the first FM station to begin broadcasting in the world, and President Theodore Roosevelt’s first automobile ride. We’re home to world class dining, international cultural attractions, award winning entertainment venues and some of the largest corporations in the nation. It is Connecticut's fourth-largest city after the coastal cities of Bridgeport, New Haven, and Stamford. According to the 2010 Census, Hartford’s population as of April 1, 2010 was 124,775, an increase of 0.5% since 2000. The 2009-2013 American Community Survey lists the City's 2013 population as 125,130. The City consists of an 18.4-square-mile area and lies on the west bank of the Connecticut River, midway between New York City and Boston. Interstate Routes 91 and 84 intersect in Hartford. Amtrak provides rail passenger service and the City is served by Bradley International Airport in Windsor Locks just to the north.
As the commercial center for the region, Hartford is home to many industries, including insurance and financial services corporations, and the hub for distribution companies that take advantage of interstate access. The insurance industry, in particular, is a major service specialty. It spans a range of products, including life insurance, reinsurance, medical insurance, fire/marine/casualty insurance, and pension investments and asset management services, most of which continue to be concentrated in Hartford. Aetna, The Hartford, Phoenix and Travelers are long-standing employers that now stand alongside newer names in the Hartford market, such as United Health Group, Prudential Financial and Lincoln National.
Hartford is also home to many arts, entertainment, educational, and cultural establishments. According to the Central Regional Tourism District, Hartford has a higher concentration of arts and entertainment spots than any other location in Connecticut.
Hartford is home to leading arts and heritage institutions, including the Wadsworth Atheneum Museum of Art, the nation’s first art museum; the Bushnell Center for the Performing Arts; and the Mark Twain House and Museum. The Hartford Stage Company continues to be a major cultural attraction for the entire region, and has developed a national reputation for ground-breaking theater. The renovated TheaterWorks building resides in downtown, as does a factory building that has been transformed into the Real Art Ways' arts and entertainment complex. The nationally acclaimed Artists Collective's $7 million building sits on the Albany Avenue corridor. The Harriet Beecher Stowe House has also undergone a major renovation. The University of Hartford Handel Performing Arts Center located in the City's Upper Albany Neighborhood, consists of classroom, rehearsal and performance space in a renovated commercial building. Additionally the Connecticut Science Center is located in downtown Hartford on the banks of the Connecticut River.
The Mayor serves as the City’s Chief Executive Officer. The Common Council consists of nine members elected at-large and serves as the City’s legislative body. The City Treasurer is elected independently and, in addition to his other duties, serves ex officio as Secretary of the Pension Commission. The City Treasurer has responsibility for the care, custody and investment of all pension funds and all other City funds and is the co-signator of all City debt along with the Mayor. All elected officials hold their respective offices for a term of four years. In the event a Mayor is unable to serve for the complete term, the Common Council President shall serve as Mayor until the next regularly scheduled general municipal election. In the event a City Treasurer is unable to serve for the complete term, the Common Council shall fill such vacancy by appointment until the next regularly scheduled general municipal election. The Common Council appoints a City Clerk to serve an indefinite term.
Pursuant to the Charter, the Mayor has designated a Chief Operating Officer to carry out responsibilities with regard to the supervision and direction of the departments and agencies of the City and a Director of Finance who is skilled in municipal accounting, budgeting and financial control. An Independent Audit Commission serves as a further fiscal safeguard. Members of the Independent Audit Commission are appointed by the City Treasurer, the Common Council and the ten largest taxpayers of the City. The Mayor appoints the Corporation Counsel and the heads of all departments, members of most boards (including certain members of the Board of Education), commissions (except the Independent Audit Commission), agencies, authorities and other bodies of the City created by General Statutes or by Ordinance. The Common Council confirms the appointment of the Police Chief, Fire Chief, Director of Finance, Director of Development Services and Corporation Counsel.
On behalf of the City of Hartford, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the City, as it allows us to make critical investments in public infrastructure throughout the City. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the City of Hartford. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.