2003 2002
Volume No. of Volume No. of Pct.
($000s) Issues ($000s) Issues Chg
TOTAL $725,900 25 $625,000 22 +16.1 %
First Quarter 59,000 3 22,600 4 +161.1
Second Quarter 457,100 11 323,500 6 +41.3
Third Quarter 87,400 4 52,800 5 +65.5
Fourth Quarter 122,400 7 226,100 7 -45.9
Development 0 0 0 0 unch
Education 449,400 9 323,700 3 +38.8
Electric Power 0 0 18,000 1 -100.0
Environmental Facilities 0 0 3,600 2 -100.0
Health Care 21,600 2 44,200 4 -51.1
Housing 85,100 6 104,100 5 -18.3
Public Facilities 0 0 2,100 1 -100.0
Transportation 24,800 2 0 0 n.m.
Utilities 0 0 0 0 unch
General Purpose 144,900 6 129,400 6 +12.0
Tax-Exempt 636,300 18 520,300 16 +22.3
Minimum-Tax 88,000 6 94,900 3 -7.3
Taxable 1,600 1 9,800 3 -83.7
New-Money 632,400 21 327,800 13 +92.9
Refunding 51,500 1 86,000 7 -40.1
Combined 42,000 3 211,200 2 -80.1
Negotiated 722,600 23 556,100 15 +29.9
Competitive 3,300 2 68,900 7 -95.2
Private Placements 0 0 0 0 unch
Revenue 570,100 18 396,400 12 +43.8
General Obligation 155,800 7 228,600 10 -31.8
Fixed-Rate 314,500 17 448,300 17 -29.8
Variable-Rate (Short Put) 50,500 7 35,500 2 +42.3
Variable-Rate (Long/No Put) 0 0 28,700 3 -100.0
Zero-Coupon 0 0 0 0 unch
Linked-Rate 360,900 1 112,500 1 +220.8
Convertible 0 0 0 0 unch
Auction-Rate 360,900 1 112,500 1 +220.8
Bank-Qualified 0 0 3,000 1 -100.0
Bond Insurance 604,300 11 370,900 11 +62.9
Letters of Credit 32,900 5 28,700 3 +14.6
Insured Mortgages 0 0 0 0 unch
Standby Purchase Agreements 0 0 0 0 unch
Investment Agreements 0 0 0 0 unch
Collateralization 0 0 0 0 unch
Other Guaranties 0 0 0 0 unch
State Government 5,000 1 91,900 3 -94.6
State Agencies 662,300 19 404,700 13 +63.7
Municipalities 28,100 4 8,500 5 +230.6
Local Authorities 0 0 0 0 unch
Colleges & Universities 30,400 1 119,900 1 -74.6
Tribal Governments 0 0 0 0 unch
Direct Issuers 0 0 0 0 unch
Cooperative Utilities 0 0 0 0 unch
Private placements and municipal forwards are included, but short-term
n.m. -- not meaningful; unch -- unchanged. Source: Thomson Financial
