NEW ISSUE Ratings: Moody’s: Baa2 S&P: BBB See “RATINGS” herein. In the opinion of Harris Beach PLLC, Bond Counsel to the Authority, based on existing statutes, regulations, court decisions and administrative rulings, and assuming compliance with the tax covenants described herein, interest on the Series G Bonds is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”). Furthermore, Bond Counsel is of the opinion that interest on the Series G Bonds is not an “item of tax preference” for purposes of the federal alternative minimum tax imposed on individuals and corporations. Interest on the Series G Bonds is, however, included in the computation of “adjusted current earnings” for purposes of calculating the federal alternative minimum tax imposed on certain corporations. Bond Counsel is further of the opinion that, based on existing statutes, interest on the Series G Bonds is excluded from Connecticut taxable income for purposes of the Connecticut income tax on individuals, trusts and estates, and such interest is excluded from amounts on which the net Connecticut minimum tax is based in the cases of individuals, trusts and estates required to pay the federal alternative minimum tax. See “TAX MATTERS” in this Official Statement. $43,905,000 STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY REVENUE BONDS, SACRED HEART UNIVERSITY ISSUE, SERIES G Dated: Date of Issuance Due: July 1, as shown below The Series G Bonds are issuable only as fully registered bonds without coupons, and when issued, will be registered in the name of Cede & Co., as Bondowner and nominee for The Depository Trust Company (“DTC”), New York, New York. DTC will act as securities depository for the Series G Bonds. Purchases of beneficial interests in the Series G Bonds will be made in book-entry-only form, in the denomination of $5,000 or any integral multiple thereof. Purchasers of beneficial interests will not receive certificates representing their interests in the Series G Bonds. So long as Cede & Co., as nominee of DTC, is the Bondowner, references herein to the Bondowners or registered owners shall mean Cede & Co., as aforesaid, and shall not mean the Beneficial Owners (as defined herein) of the Series G Bonds. See “THE SERIES G BONDS - Book-Entry-Only System” herein. Principal of, premium, if any, and interest on (payable semiannually on January 1 and July 1 of each year, commencing on January 1, 2012) the Series G Bonds will be paid directly to DTC by U.S. Bank National Association, as Trustee (the “Trustee”), so long as DTC or its nominee, Cede & Co., is the Bondowner. Disbursement of such payments to DTC's Direct Participants (as defined herein) is the responsibility of DTC and disbursement of such payments to the Beneficial Owners is the responsibility of the Direct Participants and the Indirect Participants (as defined herein), as more fully described herein. The Series G Bonds will be special obligations of the State of Connecticut Health and Educational Facilities Authority (the “Authority”) payable solely from the Revenues of the Authority which are paid to the Trustee for the account of the Authority by Sacred Heart University, Incorporated (the "Institution") in accordance with the provisions of the Loan Agreement, dated as of June 1, 2011 (the “Loan Agreement”), by and between the Authority and the Institution. The obligation to make payments pursuant to the Loan Agreement is an absolute and unconditional obligation of the Institution. The Series G Bonds will be secured under the provisions of the Trust Indenture dated as of June 1, 2011 (the “Indenture”) by and between the Authority and the Trustee. (See inside front cover for maturities, interest rates and prices or yields) The Series G Bonds are subject to optional and mandatory redemption, including mandatory sinking fund redemption, as more fully described herein. See “THE SERIES G BONDS - Redemption Provisions.” The Series G Bonds are not and shall not be deemed to constitute a debt or liability or a pledge of the faith and credit of the State of Connecticut or any political subdivision thereof, but shall be payable solely from the Revenues derived by the Authority under the Loan Agreement. Neither the faith and credit nor the taxing power of the State of Connecticut or any political subdivision thereof is pledged to the payment of the principal of, premium, if any, or interest on the Series G Bonds. The State of Connecticut Health and Educational Facilities Authority Act does not in any way create a so-called moral obligation of the State of Connecticut to pay debt service on the Series G Bonds in the event of default by the Institution or the Authority. The Authority has no taxing power. The Series G Bonds are offered when, as, and if issued and received by the Underwriters, subject to prior sale, to withdrawal or modification of the offer without notice, and to the approval of the legality of the Series G Bonds by Harris Beach PLLC, New Haven, Connecticut, Bond Counsel to the Authority. Certain legal matters will be passed upon for the Authority by its Special Counsel, Shipman & Goodwin, LLP, Hartford, Connecticut, for the Institution by its counsel, Schine, Julianelle & Antonucci, P.C., Orange Connecticut and Robinson & Cole, LLP, Hartford, Connecticut, and for the Underwriters by their counsel, Wiggin and Dana LLP, New Haven, Connecticut. It is expected that the Series G Bonds will be available for delivery to DTC in New York, New York or its custodial agent, on or about June 29, 2011. RBC CAPITAL MARKETS BofA Merrill Lynch June 22, 2011 $43,905,000 STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY REVENUE BONDS, SACRED HEART UNIVERSITY ISSUE, SERIES G Due Amount Interest Price Yield CUSIP (July 1) Rate 2012 $915,000 2.000% 100.387% 1.610% 20774U7J8 2013 945,000 3.000 102.154 1.900 20774U7K5 2014 980,000 2.250 99.913 2.280 20774U7L3 2015 1,000,000 4.000 104.787 2.730 20774U7M1 2016 1,040,000 4.000 104.143 3.100 20774U7N9 2017 1,080,000 5.000 107.724 3.560 20774U7P4 2018 1,135,000 5.000 106.686 3.900 20774U7Q2 2019 1,190,000 4.250 100.404 4.190 20774U7R0 2020 1,240,000 5.000 104.044 4.450 20774U7S8 2021 1,305,000 5.000 102.936 4.630 20774U7T6 2022 1,370,000 4.750 99.745 4.780 20774U7U3 $4,325,000 5.125% Term Bonds due July 1, 2026 Price 98.712% Yield 5.250% (CUSIP 20774U7X7) $6,805,000 5.375% Term Bonds due July 1, 2031 Price 99.213% Yield 5.440% (CUSIP 20774U7V1) $20,575,000 5.625 % Term Bonds due July 1, 2041 Price 100% Yield 5.625% (CUSIP 20774U7W9) No dealer, broker, salesman or other person has been authorized by the Authority, the Institution, or the Underwriters to give any information or to make any representation with respect to the Series G Bonds, other than as contained in this Official Statement, and, if given or made, such other information or representation must not be relied upon as having been authorized by any of the foregoing. Certain information contained herein has been obtained from the Institution, DTC and other sources. NEITHER THE AUTHORITY NOR THE UNDERWRITERS MAKE ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION, AND SUCH INFORMATION IS NOT TO BE CONSTRUED AS A REPRESENTATION OF THE AUTHORITY OR OF THE UNDERWRITERS. THE AUTHORITY HAS RELIED ENTIRELY UPON THE INSTITUTION AND OTHER SOURCES FOR SUCH INFORMATION, INCLUDING THE INFORMATION PERTAINING TO DTC, THE INFORMATION INCLUDED IN APPENDICES A AND B AND THE OTHER INFORMATION HEREIN PERTAINING TO THE INSTITUTION AND ITS FINANCIAL CONDITION. The Underwriters have provided the following sentence for inclusion in this Official Statement. The Underwriters have reviewed the information in this Official Statement in accordance with, and as part of, its responsibility to investors under the Federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriters do not guarantee the accuracy or completeness of such information. The information and expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the parties referred to above since the date hereof. This Official Statement contains forecasts, projections and estimates that are based on current expectations. In light of the important factors that may materially affect the operating results and financial condition of the Institution, the inclusion in this Official Statement of such forecasts, projections and estimates should not be regarded as a representation by the Institution or the Underwriters that such forecasts, projections and estimates will occur. Such forecasts, projections and estimates are not intended as representations of fact or guarantees of results. If and when included in this Official Statement, the words "expects," "forecasts," "projects," "intends," "anticipates," "estimates" and analogous expressions are intended to identify forward-looking statements and any such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, general economic and business conditions, changes in political, social and economic conditions, regulatory initiatives and compliance with governmental regulations, litigation and various other events, conditions and circumstances, many of which are beyond the control of the Institution. These forward- looking statements speak only as of the date of this Official Statement. The Institution disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Institution's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.