Highway Statistics Series
Highway Statistics 2023
State Obligations For Highways - 2023
Obligations Issued or Assumed During Year (1)
FEBRUARY 2025
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 | ||||||||
| California | Hwy Sfty, Trfc Red 2006 G.O. Bond (314:Mar 2010 TE) | 73 | 0 | 73 | 0 | 0 | 73 | 0.05 | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (380:Oct 2011 TE) | 3,462 | 0 | 3,462 | 0 | 0 | 3,462 | 0.05 | |||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (325:Sept 2012 TE) | 326 | 0 | 326 | 0 | 0 | 326 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (320:Apr 2013 TE) | 3,135 | 0 | 3,135 | 0 | 0 | 3,135 | 0.006 | Motor Vehicle Taxes and Fees that services Highway Revenue Bonds debt | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (394:Oct 2013 TE) | 886 | 0 | 886 | 0 | 0 | 886 | 0.0078 | Excise Taxes services M/RARF Revenue Bonds debt | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (338:Apr 2014 TE) | 16 | 0 | 16 | 0 | 0 | 16 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (420:Mar 2015 TE) | 605 | 0 | 605 | 0 | 0 | 605 | 0.07 | State Tolling Revenue | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (430:Mar 2018 TE) | 7,522 | 0 | 7,522 | 0 | 0 | 7,522 | 0.04256 | State HUTF | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (374 Apr 2009-BAB)-Transit | 19,833 | 0 | 19,833 | 0 | 0 | 19,833 | 0.06 | Federal, State HUTF | ||
| Hwy Sfty. Trfc Red 2006 G.O. Bond (358:Oct 2009 BAB- PTMSEA Transit | 37,498 | 0 | 37,498 | 0 | 0 | 37,498 | ||||
| Hwy Sfty. Trfc Red 2006 G.O. Bond (356 Nov 2009 BAB-PTMSEA)Transit | 183,721 | 0 | 183,721 | 0 | 0 | 183,721 | .14% - 1.69% | Transportation Fund | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (349 Nov 2009TE) Transit | 96,258 | 0 | 96,258 | 0 | 0 | 96,258 | 0.05 | Transportation Fund | ||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (357 Dec 2010-BAB) Transit | 9,290 | 0 | 9,290 | 0 | 0 | 9,290 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (366 Dec 2010- TE) Transit | 217,505 | 0 | 217,505 | 0 | 0 | 217,505 | Variable | Letter of Credit | ||
| TOTAL | 580,131 | 0 | 580,131 | 0 | 0 | 580,131 | 5% | TRUST ESTATE | ||
| Connecticut | New Issue STO Bonds Infrastructure Purposes 2022 Series A | 11/7/22 | 830,000 | 0 | 830,000 | 74,850 | 0 | 904,850 | 4.25% - 5.25% | Transportation Fund |
| Refunding STO Bonds Infrastructure Purposes 2022 Series B | 11/7/22 | 0 | 334,625 | 313,490 | 23,167 | 0 | 336,657 | 5% | Transportation Fund | |
| TOTAL | 830,000 | 334,625 | 1,143,490 | 98,017 | 0 | 1,241,507 | ||||
| Delaware | Series 2022 | 178,970 | 44,150 | 223,120 | 18,147 | 4,437 | 245,704 | various | pledged revenues | |
| District of Columbia | 2023A G.O | 3/9/23 | 129,647 | 0 | 129,647 | 16,065 | 0 | 145,712 | 0.05 | Special Property Tax |
| Florida | Turnpike Revenue Bonds Series 2022C | 11/8/22 | 191,860 | 0 | 191,860 | 8,754 | 0 | 200,614 | 4.375-5% | Toll Revenues |
| Turnpike Revenue Refunding Bonds Series 2023A | 3/21/23 | 174,685 | 0 | 174,685 | 15,874 | 18,348 | 208,906 | 4-5% | Toll Revenue | |
| Florida Department of Transportation Financing Corporation Bonds Series 2022 | 12/15/22 | 98,955 | 0 | 98,955 | 11,974 | 0 | 110,929 | 0.05 | Service Contract Payments | |
| TOTAL | 465,500 | 0 | 465,500 | 36,601 | 18,348 | 520,449 | ||||
| Georgia | 2022Cd General Obligation | 6/22/22 | 0 | 19,822 | 19,541 | 217 | 65 | 19,822 | 0.05 | General Obligation Bonds |
| Idaho | TECM Series 2023A | 4/27/23 | 349,685 | 0 | 349,685 | 51,251 | 0 | 400,936 | 0.0379 | Sales tax revenue bonds |
| Illinois | Transportation Bond (Highway Share) (Series "A") | October-B | 35,000 | 0 | 35,000 | 251 | 0 | 35,251 | 5.00% to 5.25% | |
| Transportation Bond (Highway Share) (Series "A") | October-C | 40,000 | 0 | 40,000 | (412) | 0 | 39,588 | 5.00%-5.50% | ||
| Transportation Bond (Highway Share) (Series "A") | May-B | 150,000 | 0 | 150,000 | 10,644 | 0 | 160,644 | 4.50%-5.50% | ||
| Transportation Refunding Bond (Highway Share) (Series "A & D") | May-D | 0 | 84,515 | 80,409 | 4,106 | 0 | 84,515 | 4.00% to 5.00% | ||
| TOTAL | 225,000 | 84,515 | 305,409 | 14,588 | 0 | 319,997 | ||||
| Kentucky | ED DEV. 2022B Road Revenue Bonds | 10/20/22 | 47,480 | 0 | 47,480 | 2,828 | 0 | 50,308 | ||
| ALCo FHTF 2023 Refunding 2013A | 6/22/23 | 0 | 55,405 | 54,840 | 1,632 | 0 | 56,472 | |||
| TOTAL | 47,480 | 55,405 | 102,320 | 4,460 | 0 | 106,780 | ||||
FEBRUARY 2025
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 | 7/27/22 | 86,625 | 0 | 86,625 | 0 | 0 | 86,625 | 0.0284 | BP Settlement Funds |
| Deepwater Horizon Economic Damages Revenue Bonds | 11/3/21 | 18,204 | 0 | 18,204 | 0 | 0 | 18,204 | 0.0212 | BP Settlement Funds | |
| Deepwater Horizon Economic Damages Revenue Bonds | 11/3/21 | 20,722 | 0 | 20,722 | 0 | 0 | 20,722 | 0.0211 | BP Settlement Funds | |
| Gasoline & Fuels Refunding 2023A-1 | 4/3/23 | 0 | 200,000 | 200,000 | 0 | 0 | 200,000 | Variable | Motor-fuel taxes | |
| Gasoline & Fuels Refunding 2023A-2 | 4/3/23 | 0 | 103,125 | 103,125 | 0 | 0 | 103,125 | Variable | Motor-fuel taxes | |
| GO Series 2023A | 4/27/23 | 111,491 | 0 | 111,491 | 16,589 | 0 | 128,080 | 4.00% - 5.00% | General Obligation | |
| TOTAL | 237,042 | 303,125 | 540,167 | 16,589 | 0 | 556,756 | ||||
| Maryland | MD DOT Consolidated Transportation Bonds, Series 2022B FWRF | 11/3/22 | 0 | 161,910 | 143,585 | 21,740 | 0 | 165,325 | 2.8% - 5% | MV & MF taxes |
| Massachusetts | GO Consolidated Loan of 2022 | 10/27/22 | 123,421 | 0 | 123,421 | 9,657 | 0 | 133,077 | Motor-fuel taxes | |
| GO Consolidated Loan of 2022 | 12/08/22 | 162,373 | 0 | 162,373 | 29,447 | 0 | 191,820 | |||
| GO Consolidated Loan of 2022 | 12/08/22 | 283,952 | 0 | 283,952 | 25,434 | 0 | 309,386 | see below | ||
| GO Refunding Bonds of 2022 | 10/27/22 | 0 | 60,528 | 53,987 | 6,541 | 0 | 60,528 | see below | ||
| GO Refunding Bonds of 2023 | 5/30/23 | 0 | 80,987 | 71,746 | 9,241 | 0 | 80,987 | see below | ||
| GO Refunding Bonds of 2022 | 07/28/22 | 340 | 154,794 | 155,134 | (340) | 0 | 154,794 | |||
| GO Consolidated Loan 2022 | 07/28/22 | 402,192 | 0 | 402,192 | 0 | 0 | 402,192 | |||
| TOTAL | 972,277 | 296,308 | 1,252,803 | 79,980 | 0 | 1,332,783 | ||||
| Michigan | State Trunkline Fund Bonds Series 2023 | 8/23/23 | 1,193,645 | 0 | 1,193,645 | 109,427 | 0 | 1,303,072 | 5.00 - 5.50% | |
| Missouri | Third Lien State Road Bonds Series A 2022 | 12/14/22 | 453,005 | 0 | 453,005 | 47,535 | 0 | 500,540 | N/A | N/A |
| New Hampshire | G.O. Capital Imp 2023 Series A | 4/13/23 | 5,500 | 0 | 5,500 | 0 | 0 | 5,500 | 4-5% | Highway Funds |
| New Jersey | NJTTFA Transportation System Bonds System Bonds | 6/1/23 | 0 | 434,494 | 425,050 | 11,580 | 0 | 436,630 | 4.25-5.25% | State Appropriation |
| NJTTFA Transportation Program Bonds Refunding | 6/1/23 | 0 | 725,413 | 692,905 | 35,248 | 0 | 728,153 | 4.25-5.00% | State Appropriation | |
| NJTTFA Transportation Program Bonds | 12/8/22 | 750,000 | 0 | 750,000 | 45,336 | 0 | 795,336 | 5.00-5.25% | State Appropriation | |
| TOTAL | 750,000 | 1,159,907 | 1,867,955 | 92,163 | 0 | 1,960,118 | ||||
| New York | TA PIT 2022ABC DEDICATED HIGHWAY | 7/28/22 | 0 | 371,651 | 368,580 | 36,039 | 0 | 404,619 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES |
| TA PIT 2022ABC TRANSPORTATION INFRASTRUCTURE | 7/28/22 | 0 | 750,000 | 749,400 | 9,254 | 0 | 758,654 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES | |
| TA PIT 2022ABC | 7/28/22 | 0 | 700,000 | 614,905 | 93,175 | 0 | 708,080 | 0.05 | 50% OF THE STATE'S PERSONAL INCOME TAX REVENUES and/or SALES TAX REVENUES | |
| TOTAL | 0 | 1,821,651 | 1,732,885 | 138,468 | 0 | 1,871,353 | ||||
FEBRUARY 2025
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 | 2023 Turnpike Refunding TIFIA | 1/13/23 | 2 | 499,460 | 499,462 | 299 | 27,502 | 527,263 | 0.0183 | TIFIA Loan Draw |
| Ohio | Major New Infrastructure GARVEE | 12/6/22 | 114,360 | 0 | 114,360 | 9,362 | 0 | 123,722 | 0.03746 | Federal |
| Oregon | 2022 Highway Revenue Bonds Series 2022A Senior Lien | 12/14/22 | 214,035 | 0 | 214,035 | 29,989 | 0 | 244,024 | 0.0373 | State Highway Fund |
| 2023 Highway Revenue Bonds Series 2023A Subordinate Lien | 45,083 | 215,090 | 0 | 215,090 | 26,153 | 0 | 241,243 | 0.04 | State Highway Fund | |
| TOTAL | 429,125 | 0 | 429,125 | 56,142 | 0 | 485,267 | ||||
| Virginia | Commonwealth of VA Transportation Revenue Bonds (U.S. Route 58 Corridor) Series 2023 | June 22, 2023 | 217,510 | 0 | 217,510 | 19,885 | 0 | 237,395 | 4.000% - 5.000% | note a |
| Washington | M V FUEL TAX G O BOND SERIES 2023C (Project 1993-215) | 0 | 40,017 | 34,350 | 5,667 | 0 | 40,017 | 0.05 | MVFT/VRF | |
| M V FUEL TAX G O BOND SERIES 2023C (Project 2005-09H) | 20,512 | 35,303 | 55,815 | 9,210 | 0 | 65,025 | 0.05 | MVFT/VFR | ||
| M V FUEL TAX G O BOND SERIES R-2023A (Project 2003-218) | 0 | 21,230 | 21,230 | 0 | 0 | 21,230 | MVFT | |||
| M V FUEL TAX G O BOND SERIES R-2023B (Project 2005-09H) | 0 | 282,145 | 282,145 | 0 | 0 | 282,145 | MVFT/VRF | |||
| M V FUEL TAX G O BOND SERIES R-2023B (Project 2005-108) | 0 | 30,695 | 30,695 | 0 | 0 | 30,695 | MVFT/VRF | |||
| M V FUEL TAX G O BOND SERIES R-2023B (Project 2003-550) | 0 | 201,510 | 201,510 | 0 | 0 | 201,510 | MVFT/VRF | |||
| TOTAL | 20,512 | 610,900 | 625,745 | 14,877 | 0 | 640,622 | ||||
| Wisconsin | State of Wisconsin General Obligation Bonds 2022, Series A | 5/10/22 | 950 | 0 | 950 | 0 | 0 | 950 | 4.0%-5.0% | Motor Fuel Taxes, Registration Fees and other Registration related fees |
| State of Wisconsin General Obligation Refunding Bonds 2022, Series 3 | 9/13/22 | 0 | 4,606 | 4,606 | 0 | 0 | 4,606 | 5.0% | ||
| State of Wisconsin General Obligation Refunding Bonds 2022, Series 4 | 10/19/22 | 0 | 11,344 | 11,344 | 0 | 0 | 11,344 | 5.0% | ||
| State of Wisconsin General Obligation Bonds 2023, Series A | 1/10/23 | 13,260 | 0 | 13,260 | 0 | 0 | 13,260 | 4.0%-5.0% | ||
| State of Wisconsin General Obligation EMCP 2023-A | 8/19/22 | 7,336 | 0 | 7,336 | 0 | 0 | 7,336 | n/a | ||
| State of Wisconsin General Obligation Refunding Bonds 2023, Series 1 | 2/28/23 | 0 | 20,695 | 20,695 | 0 | 0 | 20,695 | 5.0% | ||
| State of Wisconsin General Obligation Refunding Bonds 2023, Series 2 | 4/27/23 | 0 | 142,286 | 142,286 | 0 | 0 | 142,286 | 5.0% | ||
| State of Wisconsin Transportation Revenue Refunding Bonds 2023, Series 1 | 3/14/23 | 0 | 220,467 | 187,270 | 32,331 | 2,486 | 222,087 | 5.0% | ||
| State of Wisconsin Transportation Revenue Bonds 2023, Series A | 3/14/23 | 124,851 | 17,659 | 142,510 | 20,429 | 0 | 162,939 | 5.0% | ||
| TOTAL | 146,397 | 417,058 | 530,258 | 52,760 | 2,486 | 585,504 | ||||
| GRAND TOTAL | 7,345,788 | 6,026,345 | 12,944,732 | 898,575 | 290,232 | 13,876,260 | ||||
(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 March 7, 2025