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MUNICIPAL BONDS OUTSTANDING IN AUGUST 2011
WHERE IS THE MONEY COMING FROM?
Municipal Bonds Outstanding in August 2011: Where Is The Money Coming From?
Primarily Private in Blue and Primarily Public in Green
Amount
Type of Revenue
Outstanding
($ Billions)
% of Outstanding
Market
% of Total
Monetary Defaults
State General Fund or Ad Valorem property tax (GO) 727 20
Ad Valorem property tax (school districts) 426 12
Hospital revenues 270 7 3
Water and sewer revenue 260 7
Higher education revenues 215 6
Miscellaneous taxes 204 6
Housing revenues 187 5 18
Nuclear, public power, solid waste and municipal utility
185 5
system revenues
Economic or corporate-backed industrial development 134 4 9
Government-backed leases, public facility leases 128 3
Tobacco settlement 106 3
Toll-backed roads/bridges/tunnels 101 3
Airport revenues 86 2
Land-secured 62 2 33
Public transport revenues 54 1
Long-term care revenues 46 1 15
Cultural and human service provider charities 22 1 2
Other 455 12
TOTALS 3,668 100 80
SOURCE: Bloomberg Visual Guide to Municipal Bonds, “Bloomberg Brief: Municipal Market” (June 21, 2011)