The U.S. Treasury said on Tuesday it would resume selling state and local government series securities after suspending their sale earlier this month in a measure aimed at helping the government pay its bills.

The Treasury said it will resume issuance of the securities, known as "slugs," at noon Eastern time.

The Treasury can resume the sales, which were suspended on Feb. 4 to assist the Treasury’s management of the nation’s debt subject to limit, because Congress and the Obama administration suspended a cap on federal borrowing through March 15, 2015.

Slugs are low-interest Treasury securities offered to state and local governments to invest proceeds from municipal bond sales.