Results of Competitive Sales

IOWA

Central City (City)

Jun 10, 2009 . . . . . . $900,000

General Obligation Street Improvement Bonds, Series 2009 (bank qualified) (book entry).

Dated Jul 9, 2009.

Due Jun 1, 2010 to 2019.

Callable Jun 1, 2015 at par.

Winning bid: D.A. Davidson, at n/a, TIC 3.7792%.

Due Amount Cpn Yield Conc Ins
6/1/10 $80,000 1.50% NRO NRO
6/1/11 $80,000 2.00% NRO NRO
6/1/12 $85,000 2.45% NRO NRO
6/1/13 $85,000 2.80% NRO NRO
6/1/14 $85,000 3.20% NRO NRO
6/1/15 $90,000 3.50% NRO NRO
6/1/16 $95,000 3.75% NRO NRO
6/1/17 $95,000 3.85% NRO NRO
6/1/18 $100,000 4.00% NRO NRO
6/1/19 $105,000 4.10% NRO NRO

L.O.: Dorsey & Whitney, Des Moines, IA.

F.A.: Speer Financial, Inc., Waterloo, IA; and Speer Financial, Inc., Chicago, IL.

Other bidders were:

Bankers' Bank, TIC 3.8289%

Northland Securities, TIC 3.9868%

Apple River State Bk, TIC 4.4344%

MASSACHUSETTS

Townsend (Town)

Jun 12, 2009 . . . . . . $825,000

Bond Anticipation Notes (bank qualified).

Dated Jun 23, 2009.

Due Jul 23, 2009.

Purchased $825,000.00 by Century Bk, at 1.5%, effective rate 1.5%.

F.A.: First Southwest Company, Boston, MA.

Other bidders were:

UniBank Fiscal Adv, Effective Rate 1.7%

Eastern Bank, Effective Rate 2.2%

NEW JERSEY

Old Tappan Borough

Jun 12, 2009 . . . . . . $821,900

General Obligation Bond Anticipation Note (bank qualified).

Dated Jun 19, 2009.

Due Mar 19, 2010.

Purchased $821,900.00 by PNC Bank, at 2.07%, effective rate 2.07%.

L.O.: Rogut McCarthy LLC, Cranford, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Oppenheimer, Effective Rate 2.324%

NEW YORK

Avon Central School District

Jun 12, 2009 . . . . . . $532,288

Bond Anticipation Notes, 2009 (Renewals) (bank qualified).

Dated Jun 23, 2009.

Due Jun 23, 2010.

Purchased $532,290.00 by Bank of Greene Co, at 1.79%, effective rate 1.79%.

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

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

J.P. Morgan Chase, Effective Rate 1.83%

HSBC Bank, Effective Rate 2.55%

Oppenheimer, Effective Rate 2.615%

Salamanca City Central School District

Jun 12, 2009 . . . . . . $16,077,305

Bond Anticipation Notes, 2009 (bank qualified).

Dated Jun 26, 2009.

Due Jun 25, 2010.

Purchased $16,077,310.00 by Janney Montgomery, at 2.5%, plus n/a, effective rate n/a.

L.O.: Hodgson, Russ LLP, Buffalo, NY.

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

Oppenheimer, Effective Rate 2.7397%

Schuylerville Central School District

Jun 12, 2009 . . . . . . $512,154

Bond Anticipation Notes, 2009 (bank qualified).

Dated Jun 26, 2009.

Due Jun 25, 2010.

Purchased $512,150.00 by J.P. Morgan Chase, at 1.83%, effective rate 1.83%.

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

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

Bank of Greene Co, Effective Rate 1.94%

FNB of Scotia, Effective Rate 1.95%

First Niagara Bank, Effective Rate 2.0%

Oppenheimer, Effective Rate 2.4898%

Sodus Central School District

Jun 12, 2009 . . . . . . $8,016,880

Bond Anticipation Notes, 2009 (bank qualified).

Dated Jun 26, 2009.

Due Jun 25, 2010.

Purchased $8,016,880.00 by Janney Montgomery, at 2.0%, plus n/a, effective rate n/a.

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

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

J.P. Morgan Chase, Effective Rate 1.89%

Oppenheimer, Effective Rate 2.4709%

HSBC Bank, Effective Rate 2.55%

OKLAHOMA

Cherokee County Independent School District No. 35 (Tahlequah)

Jun 12, 2009 . . . . . . $3,750,000

Combined Purpose Bonds of 2009 (bank qualified) (book entry).

Dated Jul 1, 2009.

Due Jul 1, 2011 to 2014.

Non-callable.

Winning bid: Baker Group, at n/a, NIC 2.5717%.

Due Amount Cpn Yield Conc Ins
7/1/11 $90,000 4.00% NRO NRO
7/1/12 $1,220,000 2.70% NRO NRO
7/1/13 $1,220,000 2.45% NRO NRO
7/1/14 $1,220,000 2.55% NRO NRO

In association with: Armstrong Bank.

L.O.: State Attorney General; and Hilborne & Weidman, Tulsa, OK.

F.A.: Stephen H. McDonald & Associates, Inc., Norman, OK.

Other bidders were:

Country Club Bank, NIC 2.6125%

Stephens County Independent School District No. 34 (Central High)

Jun 12, 2009 . . . . . . $475,000

Building Bonds of 2009 (bank qualified) (book entry).

Dated Jul 1, 2009.

Due Jul 1, 2011 to 2012.

Non-callable.

Winning bid: Country Club Bank, at n/a, NIC 2.2143%.

Due Amount Cpn Yield Conc Ins
7/1/11 $220,000 2.50% NRO NRO
7/1/12 $255,000 2.05% NRO NRO

In association with: First National Bank of Thomas.

L.O.: State Attorney General; and Hilborne & Weidman, Tulsa, OK.

F.A.: Stephen H. McDonald & Associates, Inc., Norman, OK.

Other bidders were:

UMB Bank, NIC 2.3452%

BancFirst, NIC 2.6587%

TEXAS

Timber Lane Utility District

Jun 11, 2009 . . . . . . $3,450,000

Unlimited Tax Bonds, Series 2009 (bank qualified) (book entry).

Dated Jul 1, 2009.

Due Aug 1, 2010 to 2034.

Callable Aug 1, 2018 at par.

Winning bid: Southwest Securities, at 97.0000, NIC 5.9346%.

Due Amount Cpn Yield Conc Ins
8/1/10 $25,000 4.00% 3.00%
8/1/11 $25,000 4.00% 3.50%
8/1/12 $25,000 4.00% 4.00%
8/1/13 $25,000 4.20% 4.20%
8/1/14 $25,000 4.40% 4.40%
8/1/15 $25,000 4.40% 4.50%
8/1/16 $25,000 4.60% 4.65%
8/1/17 $25,000 4.75% 4.80%
8/1/18 $25,000 4.90% 4.90%
8/1/19 $25,000 5.00% 5.00%
8/1/20 $25,000 5.00% 5.10%
8/1/21 $25,000 5.20% 5.20%
8/1/22 $25,000 5.30% 5.30%
8/1/23 $25,000 5.40% 5.40%
8/1/24 $25,000 5.50% 5.50%
8/1/25 $50,000 5.60% 5.65%
8/1/29 $800,000 5.75% 5.80%
8/1/34 $2,225,000 5.85% 5.90%

L.O.: Smith, Murdaugh, Little & Bonham, Houston, TX; and State Attorney General.

F.A.: First Southwest Company, Houston, TX.

Other bidders were:

First Southwest, NIC 6.1157%

Morgan Keegan, NIC 6.1462%

SAMCO Cap Mkts, NIC 6.5074%

Sterne Agee, NIC 6.5822%

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Competitive sales results
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