Securities of the States and Private Entities are financial instruments issued by state and local governments, as well as private entities, to raise capital for a variety of purposes. These securities can include bonds, notes, debentures, and other instrument types such as commercial paper, preferred stock, and common stock. They are generally offered to the public in a series of offerings, with maturities ranging from short-term to long-term. Types of Securities of the States and Private Entities include: • Government Bonds: These are debt instruments issued by state and local governments to raise capital for public projects or to cover budget deficits. • Municipal Bonds: These are debt instruments issued by cities or other local government entities to finance public projects such as infrastructure development, schools, and public services. • Corporate Bonds: These are debt instruments issued by private companies to raise capital for business operations. • Preferred Stock: This is a type of security that pays investors a fixed dividend and has priority over common stock in the event of liquidation. • Common Stock: This is a type of security that represents ownership in a company and grants investors voting rights and potential dividends. • Commercial Paper: This is a short-term debt instrument issued by companies to raise capital for working capital or other needs. • Notes: These are debt instruments issued by state and local governments, as well as private entities, with maturities ranging from short-term to long-term.