Results of Competitive Sales

NEW YORK

Crown Point Central School District

Dec 23, 2008 . . . . . . $900,000

Bond Anticipation Notes, 2008 (bank qualified).

Dated Dec 30, 2008.

Due Nov 27, 2009.

Purchased $900,000.00 by Glens Falls Natl Bk, at 3.5%, effective rate 3.5%.

L.O.: Hiscock & Barclay, LLP, Albany, NY.

F.A.: Fiscal Advisors & Marketing, Inc., Syracuse, NY.

Hornell City School District

Dec 23, 2008 . . . . . . $1,750,000

Bond Anticipation Notes, 2008 (bank qualified).

Dated Dec 30, 2008.

Due Dec 30, 2009.

Purchased $1,750,000.00 by Five Star Bnk, at 2.42%, effective rate 2.42%.

L.O.: Timothy R. McGill, Esq., Fairport, NY.

F.A.: Fiscal Advisors & Marketing, Inc., Syracuse, NY.

Other bidders were:

J.P. Morgan Chase, Effective Rate 2.74%

Naples Village

Dec 23, 2008 . . . . . . $1,530,700

Bond Anticipation Notes, 2009 (New Issue) (bank qualified).

Dated Jan 6, 2009.

Due Jan 6, 2010.

Purchased $1,530,700.00 by Five Star Bnk, at 2.38%, plus $2.38, effective rate 2.38%.

L.O.: Harris, Beach LLP, New York, NY.

F.A.: Municipal Solutions, Inc, Canandaigua, NY.

Other bidders were:

Community Bank, Effective Rate 3.65%

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Competitive sales results
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