Results of Competitive Sales

CONNECTICUT

Connecticut Regional School District No. 10

Jul 30, 2009 . . . . . . $6,000,000

General Obligation Bond Anticipation Notes (bank qualified).

Dated Aug 11, 2009.

Due Aug 5, 2010.

Purchased $6,000,000.00 by Oppenheimer, at 1.5%, plus $51,840.00, effective rate 0.6214%.

L.O.: Day Pitney LLP, Hartford, CT.

F.A.: First Southwest Company, Glastonbury, CT.

Other bidders were:

Eastern Bank, Effective Rate 1.078%

KENTUCKY

McCracken County School District Finance Corporation

Jul 30, 2009 . . . . . . $4,875,000

School Building Refunding Revenue Bonds, Series 2009 (bank qualified) (book entry).

Dated Sep 3, 2009.

Due Apr 1, 2010 to Oct 1, 2018.

Non-callable.

Winning bid: J.J.B. Hilliard, at 98.9963, NIC 2.8546%.

Due Amount Cpn Yield Conc Ins
4/1/10 $100,000 1.50% NRO NRO
10/1/10 $375,000 1.50% NRO NRO
10/1/11 $430,000 2.00% NRO NRO
10/1/12 $440,000 2.00% NRO NRO
10/1/13 $510,000 2.00% NRO NRO
10/1/14 $505,000 2.40% NRO NRO
10/1/15 $530,000 2.60% NRO NRO
10/1/16 $650,000 2.80% NRO NRO
10/1/17 $655,000 3.00% NRO NRO
10/1/18 $680,000 3.00% NRO NRO

L.O.: Henry M. Reed III, Louisville, KY.

F.A.: J.J.B. Hilliard, W.L. Lyons, Inc., Louisville, KY.

Other bidders were:

Stifel Nicolaus, NIC 2.9795%

MASSACHUSETTS

Carver (Town)

Jul 30, 2009 . . . . . . $3,100,000

General Obligation Bond Anticipation Notes (bank qualified).

Dated Aug 11, 2009.

Due May 21, 2010.

Purchased $3,100,000.00 by Eastern Bank, at 1.5%, plus $10,030.22, effective rate 1.084%.

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

F.A.: UniBank Fiscal Advisory Services, Inc., Whitinsville, MA.

Other bidders were:

Oppenheimer, Effective Rate 1.3379%

UniBank Fiscal Adv, Effective Rate 1.7%

Janney Montgomery, Effective Rate 1.8643%

Newburyport (City)

Jul 30, 2009 . . . . . . $4,380,000

General Obligation Bond Anticipation Notes (new issue) (bank qualified).

Dated Aug 7, 2009.

Due Feb 26, 2010.

Purchased $4,380,000.00 by TD Securities, at 1.25%, plus $15,023.40, effective rate 0.6295%.

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

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

Other bidders were:

Eastern Bank, Effective Rate 0.858%

Century Bk, Effective Rate 1.0068%

Oppenheimer, Effective Rate 1.1983%

Janney Montgomery, Effective Rate 1.7073%

Reading (Town)

Jul 30, 2009 . . . . . . $5,525,000

General Obligation Municipal Purpose Loan of 2009 Bonds (bank qualified) (book entry).

Dated Aug 1, 2009.

Due Aug 1, 2010 to 2024.

Callable Aug 1, 2019 at par.

Winning bid: Fidelity Capital, at 101.1441, TIC 2.9294%.

Due Amount Cpn Yield Conc Ins
8/1/10 $440,000 2.50% NRO NRO
8/1/11 $440,000 2.00% NRO NRO
8/1/12 $440,000 2.00% NRO NRO
8/1/13 $440,000 2.00% NRO NRO
8/1/14 $440,000 2.00% NRO NRO
8/1/15 $335,000 2.25% NRO NRO
8/1/16 $335,000 2.50% NRO NRO
8/1/17 $335,000 4.00% NRO NRO
8/1/18 $335,000 3.00% NRO NRO
8/1/19 $335,000 3.25% NRO NRO
8/1/20 $330,000 3.25% NRO NRO
8/1/21 $330,000 3.375% NRO NRO
8/1/22 $330,000 3.50% NRO NRO
8/1/23 $330,000 3.625% NRO NRO
8/1/24 $330,000 3.75% NRO NRO

Other managers: Roosevelt & Cross, Inc., UBS Financial Services, Inc., Citigroup Global Markets, Inc., Wells Fargo Advisors, CL King & Associates, Charles Schwab & Co..

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

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

Other bidders were:

First Southwest, TIC 2.9627%

TD Securities, TIC 2.9991%

Robert W. Baird, TIC 3.0388%

Eastern Bk Cap Mkts, TIC 3.0629%

First Trust, TIC 3.0704%

Winchester (Town)

Jul 30, 2009 . . . . . . $9,515,000

General Obligation Refunding Bonds (bank qualified) (book entry).

Dated Aug 15, 2009.

Due Aug 15, 2010 to 2020.

Non-callable.

Winning bid: Robert W. Baird, at 104.6504, TIC 2.3978%.

Due Amount Cpn Yield Conc Ins
8/15/10 $205,000 2.00% NRO NRO
8/15/11 $205,000 2.00% NRO NRO
8/15/12 $1,125,000 2.00% NRO NRO
8/15/13 $1,100,000 2.00% NRO NRO
8/15/14 $1,085,000 4.00% NRO NRO
8/15/15 $1,070,000 2.50% NRO NRO
8/15/16 $1,040,000 3.00% NRO NRO
8/15/17 $995,000 3.00% NRO NRO
8/15/18 $910,000 3.00% NRO NRO
8/15/19 $895,000 4.00% NRO NRO
8/15/20 $885,000 4.00% NRO NRO

Other managers: Stifel, Nicolaus & Co., Inc., NW Capital Markets Inc., Davenport & Company LLC, Corby Capital Markets, Inc., Loop Capital Markets, LLC, Kildare Capital, Inc., Wells Fargo Brokerage Securites, LLC.

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

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

Other bidders were:

Hutchinson Shockey, TIC 2.413%

Roosevelt & Cross, TIC 2.4426%

Piper Jaffray, TIC 2.4472%

Eastern Bk Cap Mkts, TIC 2.4836%

First Southwest, TIC 2.5135%

TD Securities, TIC 2.5154%

NEW JERSEY

Raritan Township

Jul 30, 2009 . . . . . . $6,295,000

Bond Anticipation Notes (bank qualified).

Dated Aug 6, 2009.

Due Aug 6, 2010.

Purchased $6,295,000.00 by Jefferies, at 2.5%, plus $77,680.00, effective rate 1.266%.

L.O.: McManimon & Scotland, Newark, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Janney Montgomery, Effective Rate 2.2%

Oppenheimer, Effective Rate 2.315%

TD Securities, Effective Rate 4.426%

Ridgefield Park Village

Jul 30, 2009 . . . . . . $1,550,000

General Obligation Bond Anticipation Notes (bank qualified).

Dated Aug 6, 2009.

Due Apr 23, 2010.

Purchased $1,550,000.00 by TD Bank, N.A., at 1.43%, effective rate 1.43%.

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

F.A.: Municipal Official(s).

Other bidders were:

Oppenheimer, Effective Rate 2.3326%

Sun National Bank, Effective Rate 2.51%

Janney Montgomery, Effective Rate 2.93%

Union Township

Jul 30, 2009 . . . . . . $9,596,000

Bond Anticipation Notes (bank qualified).

Dated Aug 7, 2009.

Due Aug 6, 2010.

Purchased $9,596,000.00 by TD Securities, at 2.0%, plus $51,655.27, effective rate 1.4602%.

L.O.: DeCotiis, FitzPatrick, Cole & Wisler, LLP, Teaneck, NJ; and DeCotiis, FitzPatrick, Cole & Wisler, LLP, Trenton, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 1.4852%

National Bk-Stamford, Effective Rate 1.5%

Oppenheimer, Effective Rate 2.391%

Janney Montgomery, Effective Rate 2.4993%

NEW MEXICO

Albuquerque Metropolitan Arroyo Flood Control Authority

Jul 30, 2009 . . . . . . $10,000,000

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

Dated Sep 2, 2009.

Due Aug 1, 2010 to 2016.

Non-callable.

Winning bid: Morgan Keegan, at 101.8577, TIC 1.7353%.

Due Amount Cpn Yield Conc Ins
8/1/10 $2,000,000 2.00% NRO NRO
8/1/11 $2,000,000 2.00% NRO NRO
8/1/12 $1,100,000 2.00% NRO NRO
8/1/13 $1,100,000 2.00% NRO NRO
8/1/14 $1,250,000 2.25% NRO NRO
8/1/15 $1,250,000 2.25% NRO NRO
8/1/16 $1,300,000 2.75% NRO NRO

L.O.: Modrall, Sperling, Roehl, Harris & Sisk, Albuquerque, NM.

F.A.: RBC Capital Markets, Albuquerque, NM.

Other bidders were:

Zions First Natl Bk, TIC 1.7415%

Stifel Nicolaus, TIC 1.7443%

Piper Jaffray, TIC 1.7879%

Robert W. Baird, TIC 1.8561%

First Southwest, TIC 1.8907%

Morgan Stanley, TIC 1.9015%

BMO Capital Markets, TIC 2.0079%

Bernardi Securities, TIC 2.2302%

NEW YORK

Ardsley Union Free School District

Jul 30, 2009 . . . . . . $3,100,000

Tax Anticipation Notes for 2009-2010 Taxes (bank qualified).

Dated Aug 6, 2009.

Due Jun 25, 2010.

Purchased $3,100,000.00 by J.P. Morgan Chase, at 1.54%, effective rate 1.54%.

L.O.: Hawkins, Delafield & Wood, New York, NY.

F.A.: New York Municipal Advisors Corp. (NYMAC), Syosset, NY.

Other bidders were:

Oppenheimer, Effective Rate 2.1687%

Signature Bank, Effective Rate 2.6%

Janney Montgomery, Effective Rate 2.6371%

Roosevelt & Cross, Effective Rate 2.7464%

Ardsley Union Free School District

Jul 30, 2009 . . . . . . $4,335,000

School District Serial Bonds - 2009 (bank qualified) (book entry).

Dated Aug 1, 2009.

Due Aug 1, 2010 to 2024.

Callable Aug 1, 2018 at par.

Winning bid: Roosevelt & Cross, at n/a, NIC 3.6575%.

Due Amount Cpn Yield Conc Ins
8/1/10 $220,000 3.00% NRO NRO AGC
8/1/11 $230,000 3.00% NRO NRO AGC
8/1/12 $235,000 3.00% NRO NRO AGC
8/1/13 $245,000 3.00% NRO NRO AGC
8/1/14 $250,000 3.00% NRO NRO AGC
8/1/15 $260,000 3.125% NRO NRO AGC
8/1/16 $270,000 3.25% NRO NRO AGC
8/1/17 $285,000 3.50% NRO NRO AGC
8/1/18 $295,000 3.50% NRO NRO AGC
8/1/19 $310,000 3.50% NRO NRO AGC
8/1/20 $320,000 3.50% NRO NRO AGC
8/1/21 $335,000 3.75% NRO NRO AGC
8/1/22 $345,000 4.00% NRO NRO AGC
8/1/23 $360,000 4.00% NRO NRO AGC
8/1/24 $375,000 4.00% NRO NRO AGC

Other managers: UBS Financial Services, Inc., Fidelity Capital Markets, Ramirez & Co., Inc., Janney Montgomery Scott, Inc., Stifel, Nicolaus & Co., Inc., CL King & Associates, Wells Fargo Advisors.

L.O.: Hawkins, Delafield & Wood, New York, NY.

F.A.: New York Municipal Advisors Corp. (NYMAC), Syosset, NY.

Other bidders were:

FTN Fin Cap Mkts, NIC 3.6709%

Robert W. Baird, NIC 3.739%

Bernardi Securities, NIC 3.8328%

Bemus Point Central School District

Jul 30, 2009 . . . . . . $366,000

Bond Anticipation Notes, 2009 (bank qualified).

Dated Aug 14, 2009.

Due Aug 12, 2010.

Purchased $366,000.00 by J.P. Morgan Chase, at 2.15%, effective rate 2.15%.

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

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

Other bidders were:

M & T Bank, Effective Rate 2.28%

Oppenheimer, Effective Rate 4.4725%

Cassadaga Village

Jul 30, 2009 . . . . . . $3,000,000

Bond Anticipation Notes, 2009 (bank qualified).

Dated Aug 13, 2009.

Due Aug 13, 2010.

Purchased $3,000,000.00 by Oppenheimer, at 2.75%, plus $9,060.00, effective rate 2.448%.

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

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

Other bidders were:

Roosevelt & Cross, Effective Rate 2.7467%

Janney Montgomery, Effective Rate 3.2%

Mount Vernon City School District

Jul 30, 2009 . . . . . . $8,600,000

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

Dated Aug 10, 2009.

Due Aug 10, 2010.

Purchased $8,600,000.00 by Roosevelt & Cross, at 2.125%, plus $100.00, effective rate 2.1238%.

L.O.: Orrick, Herrington & Sutcliffe, New York, NY.

F.A.: New York Municipal Advisors Corp. (NYMAC), Syosset, NY.

Other bidders were:

Janney Montgomery, Effective Rate 2.75%

Oppenheimer, Effective Rate 2.788%

Olean (City)

Jul 30, 2009 . . . . . . $339,190

Federally Taxable Serial Bonds, 2009 (AMT).

Dated Aug 13, 2009.

Due Aug 1, 2010 to 2016.

Non-callable.

Winning bid: Sage Rutty, at n/a, NIC 4.7%.

Due Amount Cpn Yield Conc Ins
8/1/10 $44,190 4.70% NRO NRO
8/1/11 $50,000 4.70% NRO NRO
8/1/12 $50,000 4.70% NRO NRO
8/1/13 $50,000 4.70% NRO NRO
8/1/14 $50,000 4.70% NRO NRO
8/1/15 $50,000 4.70% NRO NRO
8/1/16 $45,000 4.70% NRO NRO

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

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

Other bidders were:

Roosevelt & Cross, NIC 5.375%

Otego-Unadilla Central School District

Jul 30, 2009 . . . . . . $12,515,000

Bond Anticipation Notes, 2009 (bank qualified).

Dated Aug 7, 2009.

Due Aug 6, 2010.

Purchased $12,515,000.00 by Oppenheimer, at 2.75%, plus $35,301.00, effective rate 2.4671%.

L.O.: Orrick, Herrington & Sutcliffe, New York, NY.

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

Other bidders were:

Wilber National Bk, Effective Rate 2.5%

Jefferies, Effective Rate 2.5691%

Janney Montgomery, Effective Rate 2.7249%

Roosevelt & Cross, Effective Rate 2.748%

Panama Central School District

Jul 30, 2009 . . . . . . $6,680,000

Bond Anticipation Notes, 2009 (bank qualified).

Dated Aug 13, 2009.

Due Aug 13, 2010.

Purchased $3,680,000.00 by Oppenheimer, at 2.75%, plus $13,652.00, effective rate 2.379%.

Purchased $3,000,000.00 by J.P. Morgan Chase, at 2.32%, effective rate 2.32%.

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

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

Other bidders were:

Oppenheimer, Effective Rate 2.379%

Jefferies, Effective Rate 2.574%

Janney Montgomery, Effective Rate 2.875%

Roosevelt & Cross, Effective Rate 2.9985%

Salisbury Mills Fire District in the Towns of New Windsor, Blooming Grove and Cornwall

Jul 30, 2009 . . . . . . $750,000

Fire District Bonds-Fire Truck 2009 (bank qualified).

Dated Aug 12, 2009.

Due May 15, 2010 to 2019.

Non-callable.

Winning bid: Roosevelt & Cross, at n/a, NIC 4.2357%.

Due Amount Cpn Yield Conc Ins
5/15/10 $60,000 4.00% NRO NRO
5/15/11 $65,000 4.00% NRO NRO
5/15/12 $65,000 4.00% NRO NRO
5/15/13 $70,000 4.00% NRO NRO
5/15/14 $70,000 4.00% NRO NRO
5/15/15 $75,000 4.00% NRO NRO
5/15/16 $80,000 4.00% NRO NRO
5/15/17 $85,000 4.25% NRO NRO
5/15/18 $90,000 4.50% NRO NRO
5/15/19 $90,000 4.50% NRO NRO

L.O.: Hawkins, Delafield & Wood, New York, NY.

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

Saranac Lake (Village)

Jul 30, 2009 . . . . . . $455,000

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

Dated Aug 6, 2009.

Due Aug 6, 2010.

Purchased $455,000.00 by First Niagara Bank, at 1.75%, effective rate 1.75%.

L.O.: Harris Beach PLLC, Rochester, NY.

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

Other bidders were:

TD Bank, N.A., Effective Rate 1.99%

NBT Bank, Effective Rate 2.4%

Community Bank, Effective Rate 2.99%

Schuylerville Central School District

Jul 30, 2009 . . . . . . $230,049

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

Dated Aug 12, 2009.

Due Jun 29, 2010.

Purchased $230,050.00 by J.P. Morgan Chase, at 1.77%, effective rate 1.77%.

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

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

Other bidders were:

Glens Falls Natl Bk, Effective Rate 2.25%

Schuylerville Central School District

Jul 30, 2009 . . . . . . $13,500,000

Bond Anticipation Notes, 2009 (bank qualified).

Dated Aug 12, 2009.

Due Jun 24, 2010.

Purchased $5,500,000.00 by Oppenheimer, at 2.15%, plus $440.00, effective rate 2.1408%.

Purchased $4,000,000.00 by J.P. Morgan Chase, at 1.83%, effective rate 1.83%.

Purchased $4,000,000.00 by J.P. Morgan Chase, at 1.63%, effective rate 1.63%.

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

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

Other bidders were:

Glens Falls Natl Bk, Effective Rate 2.25%

Janney Montgomery, Effective Rate 2.4423%

Westbury Village

Jul 30, 2009 . . . . . . $500,000

Bond Anticipation Notes for Reassessment of Real Property-2009A (bank qualified).

Dated Aug 6, 2009.

Due Aug 5, 2010.

Purchased $500,000.00 by J.P. Morgan Chase, at 1.28%, effective rate 1.28%.

L.O.: Hawkins, Delafield & Wood, New York, NY.

F.A.: Liberty Capital Services LLC, East Williston, NY.

Other bidders were:

TD Bank, N.A., Effective Rate 1.59%

Oppenheimer, Effective Rate 2.4799%

Flushing Comm Bk, Effective Rate 2.5%

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Competitive sales results
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