U.S. Department of Transportation
Federal Highway Administration
1200 New Jersey Avenue, SE
Washington, DC 20590
202-366-4000
JANUARY 2026
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 | ||||||||
| Arizona | HURF 2023 NEW MONEY, REFUNDING BOND DEBT SERVICE | 9/20/23 | 273,065 | 78,305 | 351,370 | 31,514 | 0 | 382,884 | 0.0312 | Motor Vehicle Taxes and Fees that services Highway Revenue Bonds debt |
| California | Hwy Sfty, Trfc Red 2006 G.O. Bond (325:Sept 2012 TE) 6053- agy 2660 | 164 | 0 | 164 | 0 | 0 | 164 | |||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (404 Mar 2018 TE) 6053- agy 2660 | 113 | 0 | 113 | 0 | 0 | 113 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (405 Mar 2017 TE) 6053- agy 2660 | 43 | 0 | 43 | 0 | 0 | 43 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (406 Sept 2017 TE) 6053- agy 2660 | 61 | 0 | 61 | 0 | 0 | 61 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (407 Mar 2018 TE) 6053- agy 2660 | 17,702 | 0 | 17,702 | 0 | 0 | 17,702 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (408 Sept 2015 TE) 6053- agy 2660 | 43 | 0 | 43 | 0 | 0 | 43 | ||||
| Hwy Sfty, Trfc Red 2006 G.O. Bond (430:Mar 2018 TE) 6053- agy 2660 | 15,201 | 0 | 15,201 | 0 | 0 | 15,201 | ||||
| TOTAL | 33,328 | 0 | 33,328 | 0 | 0 | 33,328 | ||||
| Colorado | Bridge Enterprise 2024A | 150,000 | 0 | 150,000 | 15,379 | 2,066 | 167,446 | 5.0%; 5.25%; 5.5% | Colorado Bridge and Tunnel Enterprise | |
| Bridge Enterprise 2024B | 0 | 257,180 | 236,090 | 35,300 | 0 | 271,390 | 0.05 | Federal 80% ; State 20% | ||
| TOTAL | 150,000 | 257,180 | 386,090 | 50,679 | 2,066 | 438,836 | ||||
| Connecticut | New Issue STO Bonds Infrastructure Purposes 2023 Series A | 11/1/2023 | 875,000 | 0 | 875,000 | 52,700 | 0 | 927,700 | 5.00% - 5.25% | Transportation Fund |
| Refunding STO Bonds Infrastructure Purposes 2023 Series B | 11/1/23 | 0 | 372,195 | 349,005 | 21,677 | 3,995 | 374,677 | 5% | Transportation Fund | |
| TOTAL | 875,000 | 372,195 | 1,224,005 | 74,377 | 3,995 | 1,302,377 | ||||
| District of Columbia | 2023A I.T.S.R.B. Tax Exempt | 12/6/2024 | 122,341 | 0 | 122,341 | 9,273 | 0 | 131,614 | 5% | Special Property Tax |
| Florida | Turnpike Revenue Refunding Bonds Series 2024A | 5/16/24 | 155,680 | 0 | 155,680 | 20,697 | 18,734 | 195,112 | 5%-6% | Toll Revenues |
| Turnpike Revenue Bonds Series 2024B | 6/4/24 | 275,000 | 0 | 275,000 | 11,391 | 0 | 286,391 | 4%-6% | Toll Revenue | |
| ROW Acquisition and Bridge Construction Bonds Series 2024A | 2/15/24 | 190,010 | 0 | 190,010 | 10,532 | 0 | 200,542 | 4%-5% | Motor Fuel Taxes | |
| TOTAL | 620,690 | 0 | 620,690 | 42,620 | 18,734 | 682,044 | ||||
| Idaho | TECM Series 2024A | 3/27/24 | 338,780 | 0 | 338,780 | 34,928 | 0 | 373,708 | 0.0396 | Sales tax revenue bonds |
| Illinois | Transportation Bond (Highway Share) (Series "A") | December-B | 100,000 | 0 | 100,000 | 9,178 | 0 | 109,178 | ||
| Transportation Bond (Highway Share) (Series "A") | December-C | 100,000 | 0 | 100,000 | 4,013 | 0 | 104,013 | |||
| Transportation Bond (Highway Share) (Series "A") | May-B | 310,957 | 0 | 310,957 | 26,902 | 0 | 337,859 | |||
| Transportation Bond (Highway Share) (Series "D") | December-B | 12,500 | 0 | 12,500 | 1,147 | 0 | 13,647 | |||
| Transportation Bond (Highway Share) (Series "D") | December-C | 12,500 | 0 | 12,500 | 502 | 0 | 13,002 | |||
| TOTAL | 535,957 | 0 | 535,957 | 41,742 | 0 | 577,699 | ||||
| Kansas | Highway Revenue and Refunding Bonds Series 2024A | 119,015 | 575,000 | 694,015 | 80,994 | 1,435 | 776,444 | |||
| Kentucky | ALCo FHTF 2024 Refunding 2014A | 6/4/24 | 0 | 108,350 | 107,040 | 2,813 | 0 | 109,853 | ||
| Louisiana | Deepwater Horizon Economic Damages Revenue Bonds | 12/13/23 | 88,344 | 0 | 88,344 | 0 | 0 | 88,344 | 0.0417 | BP Settlement Funds |
| Grant Anticipation Revenue Bonds Series 2023 | 9/7/23 | 225,890 | 0 | 225,890 | 24,655 | 0 | 250,545 | 0.05 | see comments | |
| GO Series 2024A | 4/24/24 | 52,913 | 0 | 52,913 | 5,269 | 0 | 58,182 | 4% - 5% | General Obligation | |
| GO Series 2024B Refunding | 5/7/24 | 0 | 3,187 | 3,130 | 97 | 0 | 3,227 | 4%-5% | General Obligation | |
| GO Series 2023A Refunding | 11/8/23 | 40,290 | 0 | 40,290 | 6,011 | 102 | 46,403 | 0.05 | General Obligation | |
| TOTAL | 407,437 | 3,187 | 410,567 | 36,033 | 102 | 446,701 | ||||
JANUARY 2026
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 | ||||||||
| Massachusetts | GO Consolidated Loan of 2023 Series A | 7/13/23 | 115,594 | 0 | 115,594 | 13,642 | 0 | 129,235 | ||
| GO Consolidated Loan of 2023 B,C,D,E | 10/25/23 | 858,489 | 0 | 858,489 | 23,211 | 0 | 881,699 | |||
| GO Consolidated Loan of 2024 Series A | 1/23/24 | 437,105 | 0 | 437,105 | 46,332 | 0 | 483,437 | |||
| GO Refunding Bonds of 2024 Series B | 6/13/24 | 267,498 | 0 | 267,498 | 25,121 | 0 | 292,619 | |||
| CTF2023A Rail Bonds | 10/3/23 | 29,000 | 0 | 29,000 | 0 | 0 | 29,000 | |||
| GO Refunding Bonds of 2023 Series B | 7/13/23 | 0 | 182,240 | 159,503 | 22,737 | 0 | 182,240 | |||
| GO Refunding Bonds of 2023 Series C | 10/25/23 | 0 | 153,059 | 145,636 | 7,423 | 0 | 153,059 | |||
| GO Refunding Bonds of 2024 Series A | 1/23/24 | 0 | 380,261 | 326,226 | 54,035 | 0 | 380,261 | |||
| GO Refunding Bonds of 2024 Series B | 2/14/24 | 0 | 315,405 | 272,884 | 42,521 | 0 | 315,405 | |||
| GO Refunding Bonds of 2024 Series C | 2/14/24 | 0 | 6,598 | 5,809 | 789 | 0 | 6,598 | |||
| TOTAL | 1,707,686 | 1,037,563 | 2,617,744 | 235,811 | 0 | 2,853,555 | ||||
| Missouri | State Appropriations Mega Projects Series A 2023 | 12/14/23 | 381,610 | 0 | 381,610 | 9,174 | 0 | 390,784 | N/A | N/A |
| Nevada | New Highway Revenue Bonds were issued in FY 24 Series 2024A | 3/13/24 | 88,485 | 0 | 88,485 | 12,021 | 0 | 100,506 | 0.030357 | |
| New Highway Revenue Bonds were issued in FY 24 Series 2024B | 3/13/24 | 44,785 | 0 | 44,785 | 5,484 | 0 | 50,269 | 0.030357 | ||
| TOTAL | 133,270 | 0 | 133,270 | 17,505 | 0 | 150,775 | ||||
| New Hampshire | G.O. Capital Imp | 4/18/24 | 4,780 | 0 | 4,780 | 0 | 0 | 4,780 | Highway Funds | |
| 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 Program Bonds | 11/30/23 | 1,250,000 | 0 | 1,250,000 | 69,033 | 0 | 1,319,033 | 5.00-5.25% | Motor Fuels Tax Petroleum Products Gross Receipts Tax Sales Tax |
| New York | REBUILD AND RENEW NY TRANSPORTATION: HIGHWAYS, WATERWAYS, AVIATION, RAILS AND PORTS | 10/11/23 | 0 | 271,817 | 252,417 | 20,528 | 0 | 272,945 | 5% | GENERAL FUND REVENUES and BAB FEDERAL INTEREST SUBSIDY PAYMENT |
| North Carolina | 2024 Turnpike Refunding | 0 | 208,060 | 182,810 | 25,250 | 0 | 208,060 | 0.05 | State Revenue | |
| 2024 Turnpike Sr. Lien A Revenue | 304,575 | 0 | 304,575 | 19,028 | 0 | 323,603 | 0.05 | Toll/State Revenue | ||
| 2024 Turnpike Sr. Lien B Cap Revenue | 35,785 | 0 | 35,785 | 0 | 0 | 35,785 | 4.88 - 4.96% | Toll/State Revenue | ||
| TOTAL | 340,360 | 208,060 | 523,170 | 44,278 | 0 | 567,448 | ||||
| Ohio | Highway Capital Improvement Bonds | 12/7/23 | 116,835 | 0 | 116,835 | 11,961 | 0 | 128,796 | 0.03618589 | State |
| Capital Facilities Lease- Appropriation Bonds | 5/9/23 | 52,865 | 0 | 52,865 | 7,590 | 0 | 60,455 | 0.0317 | State | |
| TOTAL | 169,700 | 0 | 169,700 | 19,551 | 0 | 189,251 | ||||
JANUARY 2026
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 | ||||||||
| Texas | State Highway Fund Revenue Bonds | 0 | 408,343 | 346,820 | 55,381 | 7,791 | 409,992 | 0.430% - 5.028% | E,F | |
| State of Texas Highway Improvement GO Bonds | 0 | 804,212 | 696,245 | 86,928 | 24,787 | 807,959 | 2.000% - 5.000% | E,G | ||
| TOTAL | 0 | 1,212,555 | 1,043,065 | 142,309 | 32,578 | 1,217,952 | ||||
| Virginia | Commonwealth of Virginia Transportation Capital Projects Revenue Refunding Bonds (CPRB) Series 2024 | 3/14/2024 | 0 | 474,690 | 414,820 | 62,158 | 0 | 476,978 | 5.000% | note a |
| Washington | MVFT/VRF G O BOND SERIES 2024B (Project 1993-215) | 13,290 | 0 | 13,290 | 1,735 | 0 | 15,025 | 0.05 | GO/MVFT/VRF | |
| MVFT/VRF G O BOND SERIES 2024B (Project 2005-09H) | 8,860 | 0 | 8,860 | 1,156 | 0 | 10,016 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES 2024B (Project 2015-20H) | 337,813 | 16,652 | 354,465 | 46,259 | 0 | 400,724 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES 2024D (Project 1993-215) | 17,730 | 0 | 17,730 | 2,298 | 0 | 20,028 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES 2024D (Project 2015-20H) | 248,265 | 0 | 248,265 | 32,172 | 0 | 280,437 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024B (Project 2003-550) | 0 | 82,809 | 75,775 | 7,134 | 0 | 82,909 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024B (Project 2005-09H) | 0 | 115,916 | 106,070 | 9,986 | 0 | 116,056 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024C (Project 1999-215) | 0 | 15,478 | 13,640 | 1,863 | 0 | 15,503 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024C (Project 1998-108) | 0 | 78,454 | 69,140 | 9,441 | 0 | 78,581 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024C (Project 2003-550) | 0 | 348,274 | 306,960 | 41,878 | 0 | 348,838 | 0.05 | GO/MVFT/VRF | ||
| MVFT/VRF G O BOND SERIES R-2024C (Project 2005-09H) | 0 | 797,423 | 702,810 | 95,904 | 0 | 798,714 | 0.05 | GO/MVFT/VRF | ||
| TOTAL | 625,958 | 1,455,005 | 1,917,005 | 249,826 | 0 | 2,166,831 | ||||
| Wisconsin | State of Wisconsin General Obligation Bonds 2023, Series B | 8/31/23 | 0 | 17,401 | 17,401 | 0 | 0 | 17,401 | 0.05 | |
| State of Wisconsin General Obligation Refunding Bonds 2024, Series 1 | 3/14/24 | 0 | 141,162 | 141,162 | 0 | 0 | 141,162 | 0.05 | ||
| State of Wisconsin Transportation Revenue Refunding Bonds 2024, Series 1 | 4/2/24 | 0 | 47,698 | 43,325 | 4,592 | 0 | 47,917 | 0.05 | Motor Fuel Taxes, Registration Fees and other Registration related fees | |
| State of Wisconsin Transportation Revenue Refunding Bonds 2024, Series 2 | 4/9/24 | 1,210 | 206,370 | 207,580 | 25,590 | 1,102 | 234,271 | 0.05 | Motor Fuel Taxes, Registration Fees and other Registration related fees | |
| TOTAL | 1,210 | 412,632 | 409,468 | 30,182 | 1,102 | 440,752 | ||||
| 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.
