New Security Issues, State and Local Governments

Release Date: December 2025
New Security Issues, State and Local Governments (Table 1.45) 
Millions of dollars
Type of issue or issuer, or use 2022 2023 2024 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Sep 2025 Oct 2025 Nov 2025
1 All issues, new and refunding 1 378,137 370,483 502,023 50,797 51,172 57,815 56,064 50,682 46,949 59,116 42,160
 
  By type of issue  
2 General Obligation 124,405 131,296 153,426 24,442 15,768 18,771 19,732 17,216 15,812 17,994 11,502
3 Revenue 253,733 239,187 348,597 26,355 35,405 39,043 36,332 33,466 31,136 41,122 30,658
 
  By type of issuer  
4 State n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
5 Special district or statutory authority 2 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
6 Municipality, county or township n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
 
7 Issues for new capital 261,688 248,650 317,193 29,846 35,224 37,029 41,912 33,003 28,880 36,743 28,473
 
  By use of proceeds  
8 Education 65,590 67,375 67,803 8,612 13,584 9,434 10,934 6,602 4,985 4,510 4,263
9 Transportation 27,914 21,328 31,425 1,874 1,665 1,802 9,428 3,788 1,454 2,787 3,094
10 Utilities and conservation 14,811 9,998 7,790 448 1,637 1,525 676 1,699 899 1,134 1,646
11 Industrial aid 31,633 39,463 45,994 1,752 2,967 4,223 5,581 1,400 8,752 5,253 5,460
12 Other purposes 82,450 66,978 99,732 14,023 8,875 11,474 10,244 10,598 6,922 14,183 6,670
  1. Par amounts of long-term issues based on date of sale.  Return to table
  2. Includes school districts.  Return to table
Source: Mergent beginning November 2011; Securities Data Company beginning January 1990 to October 2011; Investment Dealers Digest before then.
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Last Update: December 29, 2025