Other Debt Financing

Several other debt financing mechanisms aside from GARVEEs available to states, its political subdivisions, or public authorities include general obligation bonds, revenue bonds, special tax bonds, private activity bonds, and others. Often state authorizing legislation is required in order for the governments or public agencies to issue debt. While most states currently rely on debt authority to finance projects, some do not. The following list indicates those states that do and do not have debt authority. It should be noted that local agencies may have the ability to issue debt even in those states that do not.

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Debt Authority

• Arizona
• California
• Colorado
• Connecticut
• Delaware
• District of Columbia
• Florida
• Georgia
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin