2005 2004
Volume No. of Volume No. of Pct.
($000s) Issues ($000s) Issues Chg
TOTAL $81,116,600 1,860 $75,174,800 1,758 +7.9 %
First Quarter 17,524,700 417 15,869,100 369 +10.4
Second Quarter 22,638,900 535 30,776,700 498 -26.4
Third Quarter 20,526,400 473 13,846,600 440 +48.2
Fourth Quarter 20,426,600 435 14,682,400 451 +39.1
Development 1,358,600 47 1,647,400 53 -17.5
Education 24,140,200 681 15,684,000 584 +53.9
Electric Power 4,937,200 42 2,833,800 34 +74.2
Environmental 1,497,900 27 728,400 20 +105.6
Health Care 5,659,200 96 6,393,800 96 -11.5
Housing 4,189,100 167 4,892,500 199 -14.4
Public Facilities 2,313,700 75 2,410,000 96 -4.0
Transportation 6,674,200 83 4,669,100 57 +42.9
Utilities 6,571,100 174 6,986,000 179 -5.9
General Purpose 23,775,400 468 28,929,800 440 -17.8
Tax-Exempt 70,628,000 1,566 64,027,400 1,481 +10.3
Taxable 4,682,000 144 6,054,100 149 -22.7
Minimum-Tax 5,806,600 150 5,093,300 128 +14.0
New-Money 37,725,200 1,155 54,140,700 1,180 -30.3
Refunding 30,359,700 590 13,732,300 462 +121.1
Combined 13,031,700 115 7,301,800 116 +78.5
Negotiated 63,634,700 1,517 62,091,700 1,418 +2.5
Competitive 17,199,000 330 12,464,200 316 +38.0
Private Placements 282,900 13 618,900 24 -54.3
Revenue 48,722,700 1,130 51,172,700 1,086 -4.8
General Obligation 32,393,900 730 24,002,100 672 +35.0
Fixed-Rate 63,480,900 1,534 52,830,800 1,408 +20.2
Auction-Rate 4,989,400 63 8,044,400 91 -38.0
Variable-Rate (Short Put) 10,778,900 237 10,700,100 233 +0.7
Variable-Rate (Long Put) 114,200 4 1,895,000 12 -94.0
Zero-Coupon 1,400,600 147 1,704,500 111 -17.8
Convertible 352,600 5 0 0 n.m.
Bank-Qualified 1,470,000 353 1,458,300 359 +0.8
Bond Insurance 56,693,300 1,163 45,823,800 1,071 +23.7
Letters of Credit 5,466,700 142 4,742,500 109 +15.3
Insured Mortgages 483,800 33 559,100 56 -13.5
Standby Purchase Agreements 1,081,800 24 562,800 16 +92.2
Investment Agreements 48,900 3 400,000 1 -87.8
Other Guaranties 0 0 100 1 -100.0
State Governments 10,257,200 53 20,391,600 63 -49.7
State Agencies 19,803,200 297 16,301,800 293 +21.5
Municipalities 33,072,700 1,099 25,714,500 1,039 +28.6
Local Authorities 13,894,900 379 11,202,500 332 +24.0
Colleges & Universities 3,741,400 23 1,209,500 19 +209.3
Direct Issuers 347,200 9 208,900 10 +66.2
Tribal Governments 0 0 146,000 2 -100.0
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)
