WASHINGTON -- College Construction Loan Insurance Association, the holding company for Connie Lee Insurance Co., reported consolidated net income of $2.3 million for the third quarter, up 18% from the comparable quarter last year. For the nine months ended Sept. 30, net income totaled $5.9 million compared with $5.4 million in the same period last year.

Connie Lee, which provides credit enhancement for higher education and education-related health care bonds, said it insured $469.4 million par value of new-issue municipal bonds through Sept. 30, down 15% from the total for the first nine months of 1993.

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