TENNESSEE: First-Half Volume

TOTAL $1,445,200 67 $1,319,200 89 9.6 %

First Quarter 622,100 29 515,000 35 20.8

Second Quarter 823,100 38 804,200 54 2.4

Development 7,200 1 64,000 16 88.8

Education 166,800 12 303,900 23 45.1

Electric Power 102,100 5 33,700 4 203.0

Environmental 40,300 2 0 0 n.m.

Health Care 7,000 1 11,400 4 38.6

Housing 249,800 14 220,700 8 13.2

Public Facilities 37,600 3 9,800 3 283.7

Transportation 3,600 1 91,100 4 96.0

Utilities 106,800 7 43,000 10 148.4

General Purpose 724,000 21 541,600 17 33.7

Tax-Exempt 1,121,600 56 970,800 77 15.5

Minimum-Tax 207,100 4 242,600 9 14.6

Taxable 116,500 7 105,800 3 10.1

New-Money 796,500 44 1,074,500 77 25.9

Refunding 447,300 18 239,300 11 86.9

Combined 201,400 5 5,400 1 n.m.

Negotiated 369,300 22 577,800 31 36.1

Competitive 1,068,900 44 703,300 51 52.0

Private Placements 7,000 1 38,100 7 81.6

Revenue 560,700 31 679,600 42 17.5

General Obligation 884,500 36 639,600 47 38.3

Fixed-Rate 1,205,700 61 913,300 71 32.0

Variable-Rate 192,700 6 244,500 15 21.2

Zero-Coupon 46,800 1 11,400 1 310.5

Linked-Rate 0 0 150,000 2 100.0

Bank-Qualified 99,000 24 140,500 36 29.5

Bond Insurance 339,000 19 227,900 22 48.7

Letters of Credit 52,200 3 143,200 11 63.5

Insured Mortgages 0 0 0 0 unch

NOTES: Private placements and municipal forwards are included, but short-term notes and remarketings are excluded. n.m. - not meaningful; unch - unchanged. Source: Securities Data Co. (7/6/96)

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