2005 2004
Volume No. of Volume No. of Pct.
($000s) Issues ($000s) Issues Chg
TOTAL $3,151,300 181 $2,690,000 170 +17.1 %
First Quarter 1,090,400 44 315,000 44 +246.2
Second Quarter 501,200 45 641,100 42 -21.8
Third Quarter 769,900 47 505,000 42 +52.5
Fourth Quarter 789,800 45 1,228,900 42 -35.7
Development 24,900 5 40,400 8 -38.4
Education 1,049,400 37 1,317,200 31 -20.3
Electric Power 0 0 27,200 6 -100.0
Environmental Facilities 167,200 4 54,900 2 +204.6
Health Care 590,200 13 275,900 8 +113.9
Housing 27,400 32,000 7 -14.4
Public Facilities 66,600 38,400 5 +73.4
Transportation 0 0 26,000 4 -100.0
Utilities 327,800 39 367,000 35 -10.7
General Purpose 897,800 77 511,000 64 +75.7
Tax-Exempt 3,028,900 168 2,444,400 148 +23.9
Taxable 47,800 9 207,500 19 -77.0
Minimum-Tax 74,600 4 38,100 3 +95.8
New-Money 1,848,200 112 1,558,500 109 +18.6
Refunding 1,077,400 49 638,300 48 +68.8
Combined 225,700 20 493,200 13 -54.2
Negotiated 2,488,300 163 2,508,800 152 -0.8
Competitive 663,000 18 165,900 15 +299.6
Private Placements 0 0 15,300 3 -100.0
Revenue 1,732,700 98 1,446,700 93 +19.8
General Obligation 1,418,600 83 1,243,300 77 +14.1
Fixed-Rate 2,448,100 158 2,221,600 140 +10.2
Auction-Rate 400,000 1 24,400 1 +1,539.3
Variable-Rate (Short Put) 303,200 22 320,000 28 -5.3
Zero-Coupon 0 0 124,000 2 -100.0
Bank-Qualified 220,300 53 236,000 60 -6.7
Bond Insurance 1,967,700 112 1,539,700 109 +27.8
Letters of Credit 183,300 17 180,600 18 +1.5
Insured Mortgages 10,600 1 8,900 3 +19.1
Standby Purchase Agreements 0 0 100 1 -100.0
State Government 103,900 1 0 0 n.m.
State Agencies 269,600 10 86,300 8 +212.4
Municipalities 1,518,800 104 1,474,000 101 +3.0
Local Authorities 1,112,300 60 554,600 46 +100.6
Colleges & Universities 135,600 565,600 13 -76.0
Direct Issuers 11,000 1 9,400 2 +17.0
Private placements and municipal forwards are included, but short-term notes and remarketings are excluded. n.m. -- not meaningful; unch -- unchanged. Source: Thomson Financial (1/14/06)
