Highway Statistics Series
Highway Statistics 2022
State Obligations For Highways - 2022
Obligations Issued or Assumed During Year (1) (2) (3) (4) (5) (6)
JANUARY 2024
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 | ||||||||
| Alabama | AFAHFA 2021-A | 20,440 | 0 | 20,440 | 6,609 | 0 | 27,049 | 0.05 | ||
| AFAHFA 2021-B | 227,300 | 1,268,870 | 1,496,170 | 0 | 0 | 1,496,170 | 0.05 | |||
| TOTAL | 247,740 | 1,268,870 | 1,516,610 | 6,609 | 0 | 1,523,219 | ||||
| Arizona | HURF 2021 DEBT SERVICE | 11/10/21 | 2,955 | 53,430 | 56,385 | 0 | 0 | 56,385 | 0.006 | Motor Vehicle Taxes and Fees that services Highway Revenue Bonds debt |
| RARF 2021 REFUNDING BONDS DEBT SERVICE | 7/8/21 | 270 | 27,865 | 28,135 | 0 | 0 | 28,135 | 0.0078 | Excise Taxes services M/RARF Revenue Bonds debt | |
| TOTAL | 3,225 | 81,295 | 84,520 | 0 | 0 | 84,520 | ||||
| Colorado | I-70 Mountain Express Lanes | 205 | 25,000 | 25,205 | 0 | 0 | 25,205 | 0.07 | State Tolling Revenue | |
| Burnham Yard | 45,810 | 0 | 45,810 | 0 | 0 | 45,810 | 0.04256 | State HUTF | ||
| SB267 Series 2022 | 6/1/22 | 500,000 | 0 | 500,000 | 124,426 | 0 | 624,426 | 0.06 | Federal, State HUTF | |
| TOTAL | 546,015 | 25,000 | 571,015 | 124,426 | 0 | 695,441 | ||||
| Connecticut | New Issue STO Bonds Infrastructure Purposes 2021 Series D | 12/1/21 | 500,000 | 0 | 500,000 | 127,243 | 0 | 627,243 | .14% - 1.69% | Transportation Fund |
| Refunding STO Bonds Infrastructure Purposes 2021 Series C | 10/19/021 | 0 | 170,195 | 144,190 | 27,828 | 0 | 172,018 | 0.05 | Transportation Fund | |
| TOTAL | 500,000 | 170,195 | 644,190 | 155,071 | 0 | 799,261 | ||||
| District of Columbia | Income Tax Secured Bond Authorzation Act of 2008 effective Oct. 22, 2001, as amended (D.C. Law 17-254; D.C. Official Code 47-340.26.36; FY2022 Emerg Resolution 24-226 effective 8/10/2021 | 5/18/22 | 23,549 | 0 | 23,549 | 0 | 0 | 23,549 | Variable | Letter of Credit |
| Income Tax Secured Bond Authorzation Act of 2008 effective Oct. 22, 2001, as amended (D.C. Law 17-254; D.C. Official Code 47-340.26.36; FY2022 Emerg Resolution 24-226 effective 8/10/2021 | 7/27/22 | 208,114 | 0 | 208,114 | 33,531 | 0 | 241,645 | 5% | TRUST ESTATE | |
| TOTAL | 231,663 | 0 | 231,663 | 33,531 | 0 | 265,194 | ||||
| Florida | Turnpike Revenue Bonds Series 2021B | 8/26/21 | 230,882 | 8,953 | 239,835 | 20,976 | 0 | 260,811 | 1.75-5% | Toll Revenues |
| Turnpike Revenue Bonds Series 2021C | 11/9/21 | 272,830 | 0 | 272,830 | 28,719 | 0 | 301,549 | 2.375-5% | Toll Revenue | |
| Turnpike Revenue Refunding Bonds Series 2022A | 4/14/22 | 0 | 205,287 | 178,295 | 27,507 | 0 | 205,802 | 5% | Toll Revenues | |
| Turnpike Revenue Bonds Series 2022B | 5/5/22 | 144,025 | 0 | 144,025 | 11,779 | 0 | 155,804 | 4-5% | Toll Revenues | |
| ROW Acquisition and Bridge Construction Refunding Series 2022A | 4/5/22 | 0 | 163,270 | 132,720 | 31,178 | 0 | 163,898 | 0.05 | Motor Fuel Taxes | |
| TOTAL | 647,737 | 377,510 | 967,705 | 120,160 | 0 | 1,087,865 | ||||
| Georgia | 2021A3 General Obligation | 7/1/21 | 100,000 | 0 | 100,000 | 89 | 0 | 100,089 | 3.00% - 5.00% | General Obligation Bonds |
| State Road and Tollway Authority Managed Lane System State of GA Guaranteed Revenue Bonds Series 2021A | 7/1/21 | 39,991 | 290,169 | 330,160 | 60,199 | 0 | 390,359 | 3.00%-4.00% | MLS Toll Revenue | |
| State Road and Tollway Authority Managed Lane System State of GA Guaranteed Revenue Bonds Series 2021B | 7/1/21 | 281 | 36,939 | 37,220 | (46) | 0 | 37,174 | 1.70%-1.90% | MLS Toll Revenue | |
| TOTAL | 140,271 | 327,109 | 467,380 | 60,242 | 0 | 527,622 | ||||
| Hawaii | Revenue Bond Series 2019B (Refunding 2011A) | 10/7/21 | 23,130 | 32,335 | 55,465 | 4,051 | 0 | 59,516 | 0.05 | |
| Idaho | TECM Series 2022A | 4/12/22 | 166,105 | 18,485 | 184,590 | 32,955 | 0 | 217,545 | 0.0355 | Sales tax revenue bonds |
| Illinois | Transportation Bond (Highway Share) (Series "A") | December-A | 126,150 | 0 | 126,150 | 24,159 | 0 | 150,309 | 0.05 | |
| Transportation Bond (Highway Share) (Series "A") | December-B | 126,195 | 0 | 126,195 | 22,583 | 0 | 148,778 | 3.00%-5.00% | ||
| Transportation Bond (Highway Share) (Series "A") | June - A | 125,427 | 199,573 | 325,000 | 13,737 | 0 | 338,737 | 5.00%-5.50% | ||
| Transportation Refunding Bond (Highway Share) (Series "A & D") | June -B | 0 | 136,490 | 136,490 | 0 | 0 | 136,490 | 0.05 | ||
| TOTAL | 377,772 | 336,063 | 713,835 | 60,478 | 0 | 774,313 | ||||
| Kentucky | ED DEV. 2021A Refunding DD11A | 0 | 17,915 | 13,580 | 4,412 | 0 | 17,992 | |||
| ED DEV. 2021B Refunding DD13A | 7,965 | 77,930 | 85,895 | 0 | 0 | 85,895 | ||||
| ED DEV. 2022A Refunding DD12A | 0 | 71,100 | 56,875 | 16,250 | 0 | 73,125 | ||||
| TOTAL | 7,965 | 166,945 | 156,350 | 20,662 | 0 | 177,012 | ||||
JANUARY 2024
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 | Deepwater Horizon Economic Damages Revenue Bonds | 9/21/21 | 20,632 | 0 | 20,632 | 0 | 0 | 20,632 | 0.005 | BP Settlement Funds |
| Deepwater Horizon Economic Damages Revenue Bonds | 9/21/21 | 15,849 | 0 | 15,849 | 0 | 0 | 15,849 | 0.0069 | BP Settlement Funds | |
| Deepwater Horizon Economic Damages Revenue Bonds | 12/2/21 | 26,900 | 0 | 26,900 | 0 | 0 | 26,900 | 0.0069 | BP Settlement Funds | |
| Gasoline & Fuels Refunding 2022A | 1/27/22 | 58,035 | 562,960 | 620,995 | 0 | 4,069 | 625,064 | 0.73% - 3.052% | Motor-fuel taxes | |
| Gasoline & Fuels Refunding 2022B | 1/27/22 | 0 | 22,025 | 21,795 | 3,577 | 344 | 25,716 | 3.00% - 5.00% | Motor-fuel taxes | |
| GO Refunding Series 2023A | 11/8/23 | 0 | 45,313 | 40,290 | 6,011 | 102 | 46,403 | 0.05 | General Obligation | |
| GO Series 2022A | 4/19/22 | 50,802 | 0 | 50,802 | 7,492 | 0 | 58,294 | 4.00% - 5.00% | General Obligation | |
| Gasoline & Fuels Refunding Delayed Draw Series 2020 | 5/2/22 | 70 | 554,625 | 554,695 | 0 | 0 | 554,695 | 1.769%-2.397% | Motor-fuel taxes | |
| Gas & Fuels Refunding Series 2022A | 3/15/22 | 0 | 121,250 | 121,250 | 0 | 0 | 121,250 | Variable | Motor-fuel taxes | |
| TOTAL | 172,288 | 1,306,173 | 1,473,208 | 17,081 | 4,515 | 1,494,803 | ||||
| Maryland | Department of Transportation of Maryland Consolidated Transportation Bonds, Series 2021A | 10/7/21 | 277,869 | 17,131 | 295,000 | 42,455 | 0 | 337,455 | 2.125-5% | see below |
| Department of Transportation of Maryland Consolidated Transportation Bonds, Series 2021B RF | 10/7/21 | 0 | 162,026 | 139,210 | 23,129 | 0 | 162,339 | 5% | see below | |
| Department of Transportation of Maryland Consolidated Transportation Bonds, Series 2022A FWRF | 3/3/22 | 0 | 60,802 | 52,400 | 8,497 | 0 | 60,897 | 5% | see below | |
| TOTAL | 277,869 | 239,960 | 486,610 | 74,081 | 0 | 560,691 | ||||
| Massachusetts | GO Consolidated Loan of 2022 Series A | 2/15/22 | 64,909 | 6,464 | 71,374 | 9,294 | 0 | 80,668 | ||
| GO Consolidated Loan of 2022 Series B | 2/15/22 | 0 | 171,849 | 161,043 | 19,458 | 0 | 180,501 | |||
| GO Consolidated Loan of 2021 Series C | 10/5/21 | 20,061 | 57,343 | 77,404 | 13,125 | 0 | 90,530 | |||
| GO Consolidated Loan of 2021 Series D | 10/5/21 | 22,647 | 102,942 | 125,589 | 36,929 | 0 | 162,518 | |||
| GO Refunding Bonds of 2020 Series A (Current) | 10/5/21 | 0 | 275,590 | 222,975 | 52,619 | 0 | 275,594 | |||
| GO Refunding Bonds of 2020 Series B (Current) | 11/17/21 | 0 | 96,558 | 87,269 | 9,290 | 0 | 96,558 | |||
| TOTAL | 107,617 | 710,748 | 745,654 | 140,715 | 0 | 886,369 | ||||
| Missouri | Third Lien State Road Bonds Series A 2021 | 12/15/21 | 88,955 | 0 | 88,955 | 11,365 | 0 | 100,320 | N/A | N/A |
| New Hampshire | G.O. Capital Imp 2022 Series A | 3/24/22 | 5,500 | 0 | 5,500 | 0 | 0 | 5,500 | 4-5% | Highway Funds |
| New Jersey | NJTTFA Transportation System Bonds Refunding | 4/27/22 | 0 | 326,255 | 304,500 | 31,201 | 0 | 335,701 | 0.04 | State Appropriation |
| NJTTFA Transportation Program Bonds Remarketing | 4/27/22 | 0 | 693,260 | 589,250 | 122,978 | 0 | 712,228 | 0.05 | State Appropriation | |
| NJTTFA Transportation Program Bonds | 1/19/22 | 750,000 | 0 | 750,000 | 107,884 | 0 | 857,884 | 3.00-5.00% | State Appropriation | |
| TOTAL | 750,000 | 1,019,515 | 1,643,750 | 262,064 | 0 | 1,905,814 | ||||
| New Mexico | 2021A Revenue Bonds Fund | 8/11/21 | 234,600 | 0 | 234,600 | 69,296 | 0 | 303,896 | 5.00% | State Road Fund |
| 2022A Refunding Revenue Bonds Fund | 4/28/22 | 0 | 50,960 | 47,240 | 4,537 | 689 | 52,466 | 5.00% | State Road Fund | |
| TOTAL | 234,600 | 50,960 | 281,840 | 73,833 | 689 | 356,362 | ||||
| New York | TA PIT 2021AB; DA PIT 2022AB DEDICATED HIGHWAY | 7/28/21; 3/25/22 | 771,545 | 0 | 771,545 | 113,109 | 0 | 884,654 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES |
| TA PIT 2021AB TRANSPORTATION INFRASTRUCTURE | 7/28/21 | 256,270 | 387,275 | 643,545 | 113,528 | 0 | 757,073 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES | |
| ESD ST 2021AB | 10/21/21 | 430,340 | 0 | 430,340 | 74,260 | 0 | 504,600 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES | |
| TOTAL | 1,458,155 | 387,275 | 1,845,430 | 300,896 | 0 | 2,146,326 | ||||
JANUARY 2024
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 | ||||||||
| North Carolina | 2022 BuildNC LO Bonds | 5/19/22 | 300,000 | 0 | 300,000 | 34,013 | 0 | 334,013 | 3.5%-5.0% | State Rev |
| 2021 Grant Anticipation Revenue Vehicle | 9/16/21 | 252,595 | 0 | 252,595 | 53,561 | 0 | 306,156 | 2.0%-5.0% | Federal Revenue | |
| TOTAL | 552,595 | 0 | 552,595 | 87,574 | 0 | 640,169 | ||||
| Ohio | Highway Capital Improvement Bonds | 6/8/22 | 81,760 | 0 | 81,760 | 10,831 | 0 | 92,591 | 0.0314 | State |
| Texas | TPFA State of Texas GO Commercial Paper Notes Colonia Roadway Projects | 0 | 15,494 | 14,356 | 1,138 | 0 | 15,494 | Variable | ||
| Virginia | Commonwealth of VA Transportation Interstate 81 Corridor Program Revenue Bonds (Senior Lien) Series 2021 | August 18, 2022 | 80,990 | 0 | 80,990 | 21,947 | 0 | 102,937 | 4.000% - 5.000% | note a |
| Commonwealth of Virginia Transportation Capital Projects Revenue and Refunding Bonds (CPRB) Series 2022 | March 16, 2022 | 57,475 | 211,145 | 268,620 | 44,940 | 0 | 313,560 | 5.000% | note b & d | |
| Commonwealth of VA Transportation Revenue Bonds (U.S. Route 58 Corridor) Series 2022 | April 16, 2022 | 119,510 | 0 | 119,510 | 14,723 | 0 | 134,233 | 4.000% - 5.000% | note c | |
| TOTAL | 257,975 | 211,145 | 469,120 | 81,610 | 0 | 550,730 | ||||
| Washington | M V FUEL TAX G O BOND SERIES 2022B (Project 2005-09H) | 0 | 17,192 | 15,240 | 4,767 | 0 | 20,007 | 0.028 | MVFT | |
| M V FUEL TAX G O BOND SERIES 2022B (Project 2005-09H) | 0 | 35,543 | 27,085 | 8,472 | 0 | 35,557 | 0.028 | MVFT | ||
| M V FUEL TAX G O BOND SERIES R-2022B (Project 2003-550) | 0 | 39,410 | 39,410 | 0 | 0 | 39,410 | 2.50% - 5.00% | MVFT | ||
| M V FUEL TAX G O BOND SERIES R-2022B (Project 2005-09H) | 0 | 93,990 | 93,990 | 0 | 0 | 93,990 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2022C (Project 2003-218) | 0 | 19,225 | 19,225 | 0 | 0 | 19,225 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2022D (R49-108) | 0 | 114,500 | 114,500 | 0 | 0 | 114,500 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2022D (R49-108) | 0 | 1,235 | 1,235 | 0 | 0 | 1,235 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2022D (Project 1999-215) | 0 | 14,305 | 14,305 | 0 | 0 | 14,305 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2022D (Project 2003-550) | 0 | 271,305 | 271,305 | 0 | 0 | 271,305 | 2.50% - 5.00% | MVFT | ||
| M V FUEL TAX G O BOND SERIES R-2022D (Project 2005-09H) | 0 | 98,355 | 98,355 | 0 | 0 | 98,355 | MVFT | |||
| M V FUEL TAX GO, TOLL & MVET BOND SERIES 2022E (Project 520 - 16J) | 0 | 118,155 | 118,155 | 0 | 0 | 118,155 | MVFT | |||
| TOTAL | 0 | 823,215 | 812,805 | 13,238 | 0 | 826,043 | ||||
| Wisconsin | State of Wisconsin General Obligation Bonds 2021, Series B | 11/9/21 | 1,880 | 0 | 1,880 | 0 | 0 | 1,880 | 4.0%-5.0% | |
| State of Wisconsin General Obligation Refunding Bonds 2021, Series 4 | 9/1/21 | 0 | 175,589 | 175,589 | 0 | 0 | 175,589 | 1.081%-2.202% | ||
| State of Wisconsin General Obligation Refunding Bonds 2022, Series 1 | 2/9/22 | 0 | 21,798 | 21,798 | 0 | 0 | 21,798 | 5.0% | ||
| State of Wisconsin General Obligation Refunding Bonds 2022, Series 2 | 3/2/22 | 32,101 | 34,972 | 67,073 | 0 | 0 | 67,073 | 2.241%-3.094% | ||
| State of Wisconsin Transportation Revenue Refunding Bonds 2021, Series 1 | 7/13/21 | 767 | 142,413 | 143,180 | 0 | 0 | 143,180 | .567%-2.317% | ||
| TOTAL | 34,749 | 374,771 | 409,520 | 0 | 0 | 409,520 | ||||
| GRAND TOTAL | 6,913,686 | 7,943,062 | 14,504,425 | 1,692,609 | 5,204 | 16,202,238 | ||||
(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 January 16, 2024