New Security Issues, State and Local Governments

Release Date: February 2026
New Security Issues, State and Local Governments (Table 1.45) 
Millions of dollars
Type of issue or issuer, or use 2023 2024 2025 Jun 2025 Jul 2025 Aug 2025 Sep 2025 Oct 2025 Nov 2025 Dec 2025 Jan 2026
1 All issues, new and refunding 1 370,483 502,023 576,523 57,815 56,064 50,682 46,949 59,116 42,160 42,374 35,718
 
  By type of issue  
2 General Obligation 131,296 153,426 185,973 18,771 19,732 17,216 15,812 17,994 11,502 8,255 10,505
3 Revenue 239,187 348,597 390,550 39,043 36,332 33,466 31,136 41,122 30,658 34,118 25,213
 
  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 248,650 317,193 375,816 37,029 41,912 33,003 28,880 36,743 28,473 29,828 26,283
 
  By use of proceeds  
8 Education 67,375 67,803 90,681 9,434 10,934 6,602 4,985 4,510 4,263 6,085 4,477
9 Transportation 21,328 31,425 33,371 1,802 9,428 3,788 1,454 2,787 3,094 1,094 2,904
10 Utilities and conservation 9,998 7,790 14,302 1,525 676 1,699 899 1,134 1,646 163 379
11 Industrial aid 39,463 45,994 50,201 4,223 5,581 1,400 8,752 5,253 5,460 4,143 6,113
12 Other purposes 66,978 99,732 113,237 11,474 10,244 10,598 6,922 14,183 6,670 11,432 8,018
  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.
Back to Top
Last Update: February 27, 2026