Highway Statistics Series
Highway Statistics 2021
State Obligations For Highways - 2021
Obligations Issued or Assumed During Year (1) (2) (3) (4) (5) (6)
JANUARY 2023
Table SB-1
Page 1 of 3
(Thousands of Dollars)
| STATE | OBLIGATION | DATED | PAR VALUE (2) | PREMIUM OR DISCOUNT | ACCRUED INTEREST (3) | GROSS PROCEEDS | POSTED INTEREST RATE (4) | SOURCE OF FUNDS FOR DEBT SERVICE (5) | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ORIGINAL ISSUES | REFUNDING ISSUES | TOTAL PAR VALUE | ||||||||
| Alaska | General Obligation Bonds | 8/5/20 | 84,560 | 0 | 84,560 | 26,204 | 0 | 110,764 | 0.05 | General Funds |
| Arkansas | CAP | 4/14/21 | 0 | 287,655 | 268,135 | 22,136 | 2,561 | 292,832 | 0.05 | Sales Tax |
| Colorado | Series 2021A Rural Colorado COPS | 500,000 | 0 | 500,000 | 122,698 | 0 | 622,698 | 0.05 | ||
| Connecticut | New Issue STO Bonds Infrastructure Purposes 2021 Series A | 5/12/21 | 875,000 | 0 | 875,000 | 221,754 | 0 | 1,096,754 | 4 - 5% | Transportation Fund |
| Refunding STO Bonds Infrastructure Purposes 2021 Series B | 5/12/21 | 0 | 12,550 | 11,695 | 907 | 0 | 12,602 | 3 - 4% | Transportation Fund | |
| TOTAL | 875,000 | 12,550 | 886,695 | 222,661 | 0 | 1,109,356 | ||||
| Delaware | SERIES 2020 | 155,485 | 61,850 | 217,335 | 70,538 | 1,438 | 289,312 | various | pledged revenues | |
| GARVEE BOND | 150,440 | 44,030 | 194,470 | 0 | 0 | 194,470 | ||||
| TOTAL | 305,925 | 105,880 | 411,805 | 70,538 | 1,438 | 483,782 | ||||
| Florida | Turnpike Revenue Bonds Series 2020B | 1/5/21 | 188,802 | 5,548 | 194,350 | 14,992 | 0 | 209,342 | 2-5% | Toll Revenues |
| Turnpike Revenue Refunding Bonds Series 2021A | 4/22/21 | 0 | 85,364 | 76,345 | 9,921 | 0 | 86,266 | 2-5% | Toll Revenue | |
| ROW Acquisition and Bridge Construction Bonds Series 2020A | 12/8/20 | 187,550 | 0 | 187,550 | 13,268 | 0 | 200,818 | 2-5% | Motor Fuel Taxes | |
| ROW Acquisition and Bridge Construction Refunding & New Money Series 2021A | 4/8/21 | 0 | 221,169 | 183,810 | 37,810 | 0 | 221,620 | 2-5% | Motor Fuel Taxes | |
| ROW Acquisition and Bridge Construction Refunding Series 2021B | 4/8/21 | 0 | 186,051 | 145,880 | 40,849 | 0 | 186,729 | 0.05 | Motor Fuel Taxes | |
| Indirect GARVEE Federal Highway Reimbursement Revenue Bonds Series 2021A | 3/9/21 | 118,885 | 0 | 118,885 | 33,372 | 0 | 152,257 | 0.05 | Federal Reimbursements | |
| Financing Corporation Revenue Bonds 2020 | 1/7/21 | 155,600 | 0 | 155,600 | 32,952 | 0 | 188,552 | 3-5% | Service Contract Payments | |
| TOTAL | 650,837 | 498,132 | 1,062,420 | 183,163 | 0 | 1,245,583 | ||||
| Georgia | State Road and Tollway Authority Series 2014A&B Toll Revenue Bonds (I-75S Express Lanes) | Interest accretion during FY20 | 2,649 | 0 | 2,649 | 0 | 0 | 2,649 | 6.25%-7% | I-75S Toll Revenues |
| I-75 Northwest Corridor Express Lanes Project-TIFIA Loan | Various draws/interest in FY20 | 10,693 | 0 | 10,693 | 0 | 0 | 10,693 | 0.0379 | I-75 NWC Toll Revenues | |
| Federal Highway Grant Anticipation Revenue Bonds, Series 2020 | 12/22/20 | 387,355 | 0 | 387,355 | 94,203 | 0 | 481,558 | 0.05 | Federal Highway Grant Revenues | |
| Federal Highway Reimbursement Revenue Bonds, Series 2020 | 12/22/20 | 96,805 | 0 | 96,805 | 23,587 | 0 | 120,392 | 0.05 | Federal Highway Reimbursement Revenues | |
| 2020A3 General Obligation | 8/19/20 | 115,000 | 0 | 115,000 | 444 | 0 | 115,444 | 3.00% - 5.00% | General Obligation Bonds | |
| TOTAL | 612,501 | 0 | 612,501 | 118,233 | 0 | 730,735 | ||||
| Hawaii | Revenue Bond Series 2021 | 06/09/2021 | 137,205 | 0 | 137,205 | 43,909 | 0 | 181,114 | ||
| Idaho | GARVEE Bond Series 2021 | 5/6/21 | 112,090 | 60,770 | 172,860 | 47,348 | 0 | 220,208 | 0.0211 | Federal Funds with match from ITD |
| Illinois | Transportation Bond (Highway Share) (Series "A") | 10/27/20 | 104,000 | 0 | 104,000 | 6,893 | 0 | 110,893 | 4.0%-5.0% | |
| Transportation Bond (Highway Share) (Series "A") | 10/27/20 | 96,000 | 0 | 96,000 | (2,919) | 0 | 93,081 | 4.0%-4.25% | ||
| Transportation Bond (Highway Share) (Series "A") | 3/24/21 | 300,000 | 0 | 300,000 | 51,421 | 0 | 351,421 | 4.0%-5.0% | ||
| Transportation Bond (Highway Share) (Series "D") | 10/27/20 | 31,200 | 0 | 31,200 | 2,068 | 0 | 33,268 | 4.0%-5.0% | ||
| Transportation Bond (Highway Share) (Series "D") | 10/27/20 | 28,800 | 0 | 28,800 | (876) | 0 | 27,924 | 4.0%-4.25% | ||
| Transportation Refunding Bond (Highway Share) (Series "A & D") | 3/24/21 | 83 | 39,625 | 39,708 | (83) | 0 | 39,625 | 0.04 | ||
| TOTAL | 560,083 | 39,625 | 599,708 | 56,504 | 0 | 656,212 | ||||
| Louisiana | Gasoline & Fuels Refunding Series 2020A-2 | 9/3/20 | 119,694 | 357,966 | 477,660 | 0 | 5,074 | 482,734 | 0.443% - 2.530% | Motor-fuel taxes |
| Gasoline & Fuels Refunding Series 2020B-1 | 9/3/20 | 0 | 68,843 | 68,245 | 0 | 744 | 68,989 | 0.743% - 2.83% | Motor-fuel taxes | |
| GO Refunding Series 2020C-1 | 10/14/20 | 57 | 24,277 | 24,334 | 0 | 0 | 24,334 | 0.259% - 1.924% | General Obligation | |
| GO Refunding Series 2020C-2 | 10/14/20 | 2 | 627 | 628 | 0 | 0 | 628 | 0.259% - 1.211% | General Obligation | |
JANUARY 2023
Table SB-1
Page 2 of 3
(Thousands of Dollars)
| STATE | OBLIGATION | DATED | PAR VALUE (2) | PREMIUM OR DISCOUNT | ACCRUED INTEREST (3) | GROSS PROCEEDS | POSTED INTEREST RATE (4) | SOURCE OF FUNDS FOR DEBT SERVICE (5) | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ORIGINAL ISSUES | REFUNDING ISSUES | TOTAL PAR VALUE | ||||||||
| Louisiana (cont.) | State Highway Improvement Refunding Series 2021 | 2/25/21 | 761 | 201,274 | 202,035 | 0 | 0 | 202,035 | 0.199% - 1.842% | Registration License fees/taxes |
| Unclaimed Property Refunding Series 2021 | 3/4/21 | 0 | 64,823 | 64,385 | 0 | 683 | 65,068 | 0.245% - 2.279% | Unclaimed Pprty Leverage Fund | |
| Unclaimed Property Refunding Series 2021 | 3/4/21 | 0 | 67,354 | 67,020 | 0 | 585 | 67,605 | Unclaimed Pprty Leverage Fund | ||
| GO Series 2021A | 4/22/21 | 37,319 | 3,613 | 40,931 | 11,576 | 0 | 52,507 | 0.05 | General Obligation | |
| Grant Anticipation Revenue Bonds | 6/2/21 | 155,240 | 0 | 155,240 | 27,247 | 0 | 182,487 | 0.05 | see comments | |
| TOTAL | 313,072 | 788,777 | 1,100,479 | 38,823 | 7,087 | 1,146,388 | ||||
| Maryland | Department of Transportation of Maryland Consolidated Transportation Bonds | 10/22/20 | 300,000 | 0 | 300,000 | 91,227 | 0 | 391,227 | 5% | see below |
| Massachusetts | GO Refunding Bonds of 2020 Series B (Current) | 7/9/20 | 0 | 87,138 | 67,809 | 19,329 | 0 | 87,138 | The Commonwealth will be pledged to the payment. | |
| GO Refunding Bonds of 2020 Series C (Advance) | 7/9/20 | 391 | 132,903 | 133,295 | (391) | 0 | 132,903 | The Commonwealth will be pledged to the payment. | ||
| GO Consolidated Loan of 2020 Series D | 7/9/20 | 297,320 | 0 | 297,320 | 106,126 | 0 | 403,446 | The Commonwealth will be pledged to the payment. | ||
| GO Consolidated Loan of 2020 Series E | 12/3/20 | 217,363 | 0 | 217,363 | 56,127 | 0 | 273,490 | The Commonwealth will be pledged to the payment. | ||
| GO Refunding Bonds of 2020 Series D (Current) | 12/3/20 | 0 | 130,650 | 111,979 | 18,672 | 0 | 130,650 | The Commonwealth will be pledged to the payment. | ||
| GO Refunding Bonds of 2020 Series E (Advance) | 12/3/20 | 593 | 244,070 | 244,663 | (593) | 0 | 244,070 | The Commonwealth will be pledged to the payment. | ||
| GO Consolidated Loan of 2021 Series A | 5/18/21 | 69,218 | 0 | 69,218 | 470 | 0 | 69,688 | The Commonwealth will be pledged to the payment. | ||
| GO Consolidated Loan of 2021 Series B | 5/18/21 | 106,505 | 0 | 106,505 | 0 | 0 | 106,505 | The Commonwealth will be pledged to the payment. | ||
| CTF 2021A ABP Refunding (Current) | 6/24/21 | 0 | 372,700 | 289,355 | 83,345 | 0 | 372,700 | The Commonwealth will be pledged to the payment. | ||
| TOTAL | 691,389 | 967,462 | 1,537,506 | 283,085 | 0 | 1,820,591 | ||||
| Michigan | State Trunkline Fund Bonds Series 2021A | 8/3/21 | 800,000 | 0 | 800,000 | 208,645 | 0 | 1,008,645 | 4%-5% | |
| State Trunkline Fund Refunding Bonds Series 2021B | 8/3/21 | 54,150 | 0 | 54,150 | 15,913 | 0 | 70,063 | 4%-5% | ||
| TOTAL | 854,150 | 0 | 854,150 | 224,558 | 0 | 1,078,708 | ||||
| Nevada | New Highway Revenue Bonds were issued in FY 21 Series 2020A | 9/29/20 | 89,585 | 0 | 89,585 | 10,924 | 0 | 100,509 | 0.015308 | |
| New Highway Revenue Bonds were issued in FY 21 Series 2020B | 9/29/20 | 53,895 | 0 | 53,895 | 7,178 | 0 | 61,073 | 0.015859 | ||
| TOTAL | 143,480 | 0 | 143,480 | 18,102 | 0 | 161,582 | ||||
| New Hampshire | G.O. Capital Imp 2020 Series C | 12/22/20 | 13,417 | 1,083 | 14,500 | 0 | 0 | 14,500 | 0.05 | Highway Funds |
| G.O. Refunding Bonds 2020 Series D | 12/22/20 | 0 | 5,343 | 5,343 | 0 | 0 | 5,343 | 5.00% | Highway Funds | |
| G.O. Refunding Bonds 2020 Series E | 12/22/20 | 0 | 1,502 | 1,502 | 0 | 0 | 1,502 | 0.14 - 0.20% | Highway Funds | |
| TOTAL | 13,417 | 7,928 | 21,345 | 0 | 0 | 21,345 | ||||
| New Jersey | NJTTFA Transportation System Bonds Refunding | 5/6/21 | 0 | 702,150 | 580,420 | 142,745 | 0 | 723,165 | 4.00-5.00% | State Appropriation |
| NJTTFA Transportation Program Bonds Remarketing | 5/6/21 | 0 | 147,500 | 114,195 | 33,719 | 0 | 147,914 | 0.05 | State Appropriation | |
| NJTTFA Transportation Program Bonds | 12/15/20 | 1,500,000 | 0 | 1,500,000 | 174,126 | 0 | 1,674,126 | 3.00-5.00% | State Appropriation | |
| TOTAL | 1,500,000 | 849,650 | 2,194,615 | 350,590 | 0 | 2,545,205 | ||||
| New Mexico | 2020A Refunding Revenue Bonds Fund | 10/28/20 | 0 | 69,900 | 63,180 | 8,727 | 0 | 71,907 | 5% | State Road Fund |
JANUARY 2023
Table SB-1
Page 3 of 3
(Thousands of Dollars)
| STATE | OBLIGATION | DATED | PAR VALUE (2) | PREMIUM OR DISCOUNT | ACCRUED INTEREST (3) | GROSS PROCEEDS | POSTED INTEREST RATE (4) | SOURCE OF FUNDS FOR DEBT SERVICE (5) | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ORIGINAL ISSUES | REFUNDING ISSUES | TOTAL PAR VALUE | ||||||||
| New York | REBUILD AND RENEW NY TRANSPORTATION: HIGHWAYS, WATERWAYS, | 3/23/21 | 6,551 | 0 | 6,551 | 0 | 0 | 6,551 | 1.340% - 5.000% | GENERAL FUND REVENUES and BAB FEDERAL |
| DEDICATED HIGHWAY | 10/15/20 | 410,130 | 0 | 410,130 | 44,497 | 0 | 454,627 | 0.05 | 50% OF THE STATE'S INCOME TAX REVENUES | |
| TRANSPORTATION INFRASTRUCTURE | 10/15/2020 | 523,070 | 51,965 | 575,035 | 108,745 | 0 | 683,780 | 0.05 | 50% OF THE STATE'S INCOME TAX REVENUES | |
| TOTAL | 939,751 | 51,965 | 991,716 | 153,242 | 0 | 1,144,959 | ||||
| North Carolina | 2020 BuildNC LO Bonds | 11/12/20 | 700,000 | 0 | 700,000 | 148,687 | 0 | 848,687 | 0.05 | State Rev |
| 2021 Turnpike Revenue Refunding | 4/6/21 | 0 | 95,005 | 73,985 | 22,773 | 0 | 96,758 | 0.05 | State Rev | |
| 2020 Turnpike Triangle Exp Revenue | 10/29/20 | 499,460 | 0 | 499,460 | 65,544 | 0 | 565,004 | 0.05 | Toll/State Rev | |
| TOTAL | 1,199,460 | 95,005 | 1,273,445 | 237,005 | 0 | 1,510,450 | ||||
| Ohio | Major New Infrastructure GARVEE | 6/8/21 | 91,980 | 0 | 91,980 | 23,633 | 0 | 115,613 | 0.0104 | Federal |
| General Obligation Highway Bonds | 6/8/21 | 3,000 | 55,220 | 58,220 | 0 | 0 | 58,220 | 0.0062 | Federal | |
| TOTAL | 4,373,403 | 349,160 | 4,680,523 | 804,127 | 0 | 5,484,650 | ||||
| Oklahoma | SERIES 2020B | 11/19/20 | 169,465 | 0 | 169,465 | 31,059 | 0 | 200,524 | 5%/4%/2.65% | Appropriations |
| SERIES 2020C | 11/19/20 | 990 | 21,145 | 22,135 | 0 | 0 | 22,135 | Various | Appropriations | |
| TOTAL | 170,455 | 21,145 | 191,600 | 31,059 | 0 | 222,659 | ||||
| Oregon | 2020 Highway Revenue Bonds Series 2020A Subordinate Lien | 9/17/20 | 186,465 | 0 | 186,465 | 54,439 | 0 | 240,904 | 0.02717 | Highway Revenue |
| 2020 Highway Revenue Bonds Series 2020B Senior Lien | 9/17/20 | 96,715 | 514,790 | 611,505 | 0 | 0 | 611,505 | 0.01518 | Highway Revenue | |
| TOTAL | 283,180 | 514,790 | 797,970 | 54,439 | 0 | 852,409 | ||||
| Pennsylvania | Commonwealth of PA General Obligation 1st Refunding Series of 2021 | 5/20/21 | 2,615 | 40,720 | 43,335 | (74) | 0 | 43,261 | 0.125% - 2.050% | Motor License Fund |
| Texas | TPFA Lease Revenue Bonds (TXDOT - Austin Campus Consolidation Project), Series 2021 | 325,700 | 0 | 325,700 | 1,847 | 0 | 327,547 | |||
| Vermont | 21- Series C Refunding | 5/18/21 | 0 | 158 | 158 | 0 | 0 | 158 | 4.0 to 5.0% | general funds GO |
| Virginia | Commonwealth of VA Transportation Federal Grant Anticipation Revenue Notes (GARVEE) Series 2020 | 9/22/2020 | 100,760 | 0 | 100,760 | 27,044 | 0 | 127,804 | 4.000% - 5.000% | note a |
| Washington | MVFT/VRF GO BOND SERIES 2021B (Project 2015 - 20H) | 9/25/19 | 0 | 149,996 | 114,990 | 35,064 | 0 | 150,054 | 0.0289 | MVFT/VRF |
| MVFT/VRF GO BOND SERIES 2021F (Project 2015 - 20H) | 2/26/20 | 0 | 314,999 | 240,410 | 74,722 | 0 | 315,132 | 0.0279 | MVFT/VRF | |
| M V FUEL TAX G O BOND SERIES R-2021D (Project 1999-215) | 10/4/19 | 15,780 | 0 | 15,780 | 4,137 | 0 | 19,917 | 0.0138 | MVFT | |
| M V FUEL TAX G O BOND SERIES 2021D (Project 1999-215) | 2/26/20 | 30,115 | 0 | 30,115 | 7,896 | 0 | 38,011 | 0.028 | MVFT | |
| M V FUEL TAX G O BOND SERIES 2021D (Project 2005-09H) | 2/26/20 | 61,780 | 0 | 61,780 | 16,199 | 0 | 77,979 | 0.028 | MVFT | |
| MVFT/VRF GO BOND SERIES 2021E (Project 2015 - 20H) | 2/26/20 | 0 | 241,885 | 232,100 | 78,004 | 0 | 310,104 | 0.0279 | MVFT/VRF | |
| M V FUEL TAX GO, TOLL & MVET BOND SERIES R2021A (Project 520 - 16J) | 396,315 | 0 | 396,315 | 68,708 | 0 | 465,023 | 0.0299 | MVFT & TOLL | ||
| M V FUEL TAX G O BOND SERIES R2021B (Project 2003-218) | 3,910 | 0 | 3,910 | 309 | 0 | 4,219 | 3.00%-5.00% | MVFT | ||
| M V FUEL TAX G O BOND SERIES R2021C (Project 2003-218) | 910 | 0 | 910 | 55 | 0 | 965 | 3.00%-5.00% | MVFT | ||
| M V FUEL TAX G O BOND SERIES R2021D (Project 2005-09H) | 102,915 | 0 | 102,915 | 25,445 | 0 | 128,360 | 0.028 | MVFT | ||
| M V FUEL TAX G O BOND SERIES R2021D (ProjectR49-108) | 90 | 0 | 90 | 9 | 0 | 99 | ||||
| M V FUEL TAX G O BOND SERIES R-2021D (R49-108) | 32,880 | 0 | 32,880 | 5,820 | 0 | 38,700 | 4.536%-5.481% | MVFT | ||
| M V FUEL TAX G O BOND SERIES 2021D (Project 1999-215) | 2,075 | 0 | 2,075 | 218 | 0 | 2,293 | 0.028 | MVFT | ||
| M V FUEL TAX G O BOND SERIES 2018 B&D (Project 2003-550) | 52,265 | 0 | 52,265 | 11,338 | 0 | 63,603 | 2.50% - 5.00% | MVFT | ||
| M V FUEL TAX G O BOND SERIES R-2010C (2001D-TIB-144) | 1,385 | 0 | 1,385 | 0 | 0 | 1,385 | 0.05 | MVFT | ||
| TOTAL | 700,420 | 706,880 | 1,287,920 | 327,925 | 0 | 1,615,845 | ||||
| West Virginia | General Obligation State Road Bonds Issue 4 | 185,110 | 14,890 | 200,000 | 62,511 | 0 | 262,511 | 0.025 | State Road Fund | |
| Wisconsin | State of Wisconsin General Obligation Bonds 2020, Series B | 10/20/20 | 31,760 | 0 | 31,760 | 0 | 0 | 31,760 | 4.0%-5.0% | |
| State of Wisconsin General Obligation Refunding Bonds 2020, Series 3 | 6/24/20 | 0 | 21,193 | 21,193 | 0 | 0 | 21,193 | .390%-2.485% | ||
| State of Wisconsin General Obligation Refunding Bonds 2021, Series 1 | 6/24/20 | 0 | 43,335 | 43,335 | 0 | 0 | 43,335 | .84%-1.30% | ||
| State of Wisconsin General Obligation Refunding Bonds 2021, Series 2 | 10/14/20 | 0 | 57,343 | 57,343 | 0 | 0 | 57,343 | .31%-1.827% | ||
| State of Wisconsin General Obligation Refunding Bonds 2021, Series 3 | 1/22/20 | 64,734 | 16,340 | 81,074 | 0 | 0 | 81,074 | 1.626-2.347% | ||
| State of Wisconsin General Obligation Bonds 2021, Series A | 2/17/21 | 25,529 | 0 | 25,529 | 0 | 0 | 25,529 | .111%-1.1222% | ||
| State of Wisconsin Transportation Revenue Bonds 2021 Series A | 3/9/21 | 148,490 | 0 | 148,490 | 34,662 | 0 | 183,152 | 3.0%-5.0% | ||
| State of Wisconsin Transportation Revenue Refunding Bonds 2020, Series 1 | 7/9/20 | 1,670 | 314,170 | 315,840 | 0 | 0 | 315,840 | .301%-1.859% | ||
| TOTAL | 272,183 | 452,381 | 724,563 | 34,662 | 0 | 759,225 | ||||
| GRAND TOTAL | 11,928,323 | 5,641,484 | 17,038,011 | 2,881,801 | 11,086 | 19,930,898 | ||||
(1) This table is one of a series giving available information concerning State and quasi-State obligations incurred for highway purposes. Table SB-2 contains data on changes in indebtedness. Table SB-3 contains receipts and disbursements for debt service. Tables SB-2T and SB-3T are subsets of Tables SB-2 and SB-3, showing data for individual State toll facilities. Tables SB-2L and SB-3L are also subsets of Tables SB-2 and SB-3, showing data for State obligations for local roads. When bonds were issued for multiple purposes, their par value is assigned to State highways, local roads and streets, and nonhighway purposes on the basis of the initial distribution of net bond proceeds. The nonhighway portion is excluded from these tables. Also omitted are obligations with terms of less than 2 years; however, interest payments for short-term obligations are included in Table SB-3. This table is compiled from reports of State authorities.
(2) A portion of proceeds from refunding bonds may be expended for current debt service. That portion is included with original issues.
(3) Payment by bond purchaser for interest accrued from date of issue to date of sale.
(4) "Posted rate" is declared rate printed on bonds. N/A indicates data not available.
(5) When an asterisk appears in this column, the bonds are understood to be secured by the full faith and credit of the State, in addition to the specific revenues dedicated by law to debt service.
(6) Certain Federal Funds are used to payoff bonds.
Page last modified on July 6, 2023