Results of Competitive Sales

ILLINOIS

Sauk Valley Community College District No. 506

Aug 30, 2010 . . . . . . $6,805,000

General Obligation Community College Bonds, Series 2010B (bank qualified) (book entry).

Dated Sep 21, 2010.

Due Feb 1, 2012 to 2016.

Non-callable.

Winning bid: Hutchinson Shockey, at n/a, TIC 1.4527%.

Due Amount Cpn Yield Conc Ins
2/1/12 $1,060,000 1.00% 0.68%
2/1/13 $1,655,000 1.00% 0.87%
2/1/14 $1,705,000 2.00% 1.10%
2/1/15 $1,410,000 3.00% 1.50%
2/1/16 $975,000 3.00% 1.80%

L.O.: Chapman and Cutler, Chicago, IL.

F.A.: PMA Securities, Inc, Naperville, IL.

Other bidders were:

BMO Capital Markets, TIC 1.5777%

M&I Marshall, TIC 1.5778%

JPMorgan, TIC 1.5951%

Robert W. Baird, TIC 1.6028%

KENTUCKY

Bourbon County School District Finance Corporation

Aug 30, 2010 . . . . . . $229,000

School Building Refunding Revenue Bonds, Third Series of 2010 (Kentucky School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Oct 5, 2010.

Due Jun 1, 2011 to 2018.

Non-callable.

Winning bid: Morgan Keegan, at 98.8000, NIC 2.5389%.

Due Amount Cpn Yield Conc Ins
6/1/18 $229,000 2.25% 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:

J.J.B. Hilliard, NIC 2.551%

Bourbon County School District Finance Corporation

Aug 30, 2010 . . . . . . $1,865,000

School Building Refunding Revenue Bonds, Second Series of 2010 (bank qualified) (book entry).

Dated Sep 15, 2010.

Due Apr 1, 2012 to 2022.

Non-callable.

Winning bid: J.J.B. Hilliard, at 98.8424, NIC 2.4732%.

Due Amount Cpn Yield Conc Ins
4/1/12 $25,000 1.00% NRO NRO
4/1/13 $90,000 1.00% 1.00%
4/1/14 $90,000 1.25% 1.25%
4/1/15 $105,000 1.60% NRO NRO
4/1/16 $105,000 2.00% NRO NRO
4/1/17 $105,000 2.10% 2.10%
4/1/20 $325,000 2.40% 2.40%
4/1/21 $505,000 2.40% NRO NRO
4/1/22 $515,000 2.50% 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 2.4839%

Fifth Third Sec, NIC 2.53%

Morgan Keegan, NIC 2.6544%

Crittenden County School District Finance Corporation

Aug 30, 2010 . . . . . . $3,865,000

School Building Refunding Revenue Bonds, Series of 2010 (bank qualified) (book entry).

Dated Sep 1, 2010.

Due Apr 1, 2011 to Oct 1, 2023.

Non-callable.

Winning bid: Ross Sinclaire, at 99.0299, NIC 2.3799%.

Due Amount Cpn Yield Conc Ins
4/1/11 $15,000 0.50% NRO NRO
10/1/11 $55,000 0.50% NRO NRO
10/1/12 $255,000 1.00% NRO NRO
10/1/13 $255,000 1.00% NRO NRO
10/1/14 $265,000 1.20% NRO NRO
10/1/15 $275,000 1.60% NRO NRO
10/1/16 $275,000 2.00% NRO NRO
10/1/17 $285,000 2.10% NRO NRO
10/1/18 $385,000 2.25% NRO NRO
10/1/19 $390,000 2.40% NRO NRO
10/1/20 $400,000 2.40% NRO NRO
10/1/21 $385,000 2.50% NRO NRO
10/1/22 $310,000 2.50% NRO NRO
10/1/23 $315,000 2.60% NRO NRO

Other managers: J.J.B. Hilliard, W.L. Lyons, Inc., Duncan-Williams, Inc., FTN Financial Capital Markets, Robert W. Baird & Co., Inc., PNC Capital Markets.

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

F.A.: Ross, Sinclaire & Associates, Inc., Lexington, KY.

Other bidders were:

Fifth Third Sec, NIC 2.407%

Stifel Nicolaus, NIC 2.4488%

JPMorgan, NIC 2.4529%

Morgan Keegan, NIC 2.5099%

MASSACHUSETTS

Manchester By-The-Sea (Town)

Aug 30, 2010 . . . . . . $2,400,000

General Obligation Bond Anticipation Notes (renewal) (Unlimited Tax) (bank qualified).

Dated Sep 8, 2010.

Due May 27, 2011.

Purchased $2,400,000.00 by Eastern Bank, at 1.25%, plus $12,121.20, effective rate 0.548%.

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

F.A.: FirstSouthwest, Boston, MA.

Other bidders were:

FirstSouthwest, Effective Rate 0.5536%

Beneficial Bk, Effective Rate 0.5828%

TD Securities, Effective Rate 0.5898%

Century Bk, Effective Rate 0.7%

Oppenheimer, Effective Rate 1.0024%

MINNESOTA

Chaska (City)

Aug 30, 2010 . . . . . . $880,000

General Obligation Capital Improvement Plan Refunding Bonds, Series 2010B (bank qualified) (book entry).

Dated Sep 15, 2010.

Due Feb 1, 2011 to 2015.

Non-callable.

Winning bid: United Banker's Bk, at n/a, TIC 1.0195%.

Due Amount Cpn Yield Conc Ins
2/1/11 $155,000 0.40% 0.40%
2/1/12 $170,000 0.50% 0.50%
2/1/13 $175,000 0.60% 0.60%
2/1/14 $185,000 0.80% 0.80%
2/1/15 $195,000 1.10% 1.10%

L.O.: Dorsey & Whitney, Minneapolis, MN.

F.A.: Springsted Incorporated, St. Paul, MN.

Other bidders were:

Cronin, TIC 1.083%

UMB Bank, TIC 1.1924%

Chaska (City)

Aug 30, 2010 . . . . . . $2,180,000

General Obligation Improvement Bonds, Series 2010C (bank qualified) (book entry).

Dated Sep 15, 2010.

Due Feb 1, 2012 to 2033.

Callable Feb 1, 2020 at par.

Winning bid: Wells Fargo Advisors, at 98.9711, TIC 3.0213%.

Due Amount Cpn Yield Conc Ins
2/1/12 $20,000 2.00% 0.50%
2/1/13 $25,000 2.00% 0.65%
2/1/14 $25,000 2.00% 0.85%
2/1/15 $130,000 2.10% 1.15%
2/1/16 $135,000 2.10% 1.40%
2/1/17 $140,000 2.10% 1.70%
2/1/18 $135,000 2.10% 1.85%
2/1/19 $135,000 2.10% 2.10%
2/1/20 $140,000 2.25% 2.25%
2/1/21 $165,000 2.375% 2.40%
2/1/22 $130,000 2.50% 2.55%
2/1/23 $135,000 2.625% 2.75%
2/1/24 $140,000 2.85% 2.90%
2/1/27 $215,000 3.125% 3.25%
2/1/30 $240,000 3.50% 3.55%
2/1/33 $270,000 3.75% 3.80%

L.O.: Dorsey & Whitney, Minneapolis, MN.

F.A.: Springsted Incorporated, St. Paul, MN.

Other bidders were:

Cronin, TIC 3.0235%

UBS Financial Svcs, TIC 3.074%

Robert W. Baird, TIC 3.1498%

Piper Jaffray, TIC 3.2573%

Park Rapids Area Independent School District No. 309

Aug 30, 2010 . . . . . . $3,445,000

General Obligation Aid Anticipation Certificates of Indebtedness, Series 2010D (MN SD Credit Enhancement Program) (bank qualified) (book entry).

Dated Sep 16, 2010.

Due Sep 16, 2011.

Purchased $3,445,000.00 by M&I Marshall, at 1.5%, plus $32,383.00, effective rate 0.56%.

L.O.: Knutson, Flynn & Deans, Mendota Heights, MN.

F.A.: Ehlers & Associates, Inc., Roseville, MN.

Other bidders were:

Northland Securities, Effective Rate 0.575%

Wells Fargo Secs, Effective Rate 0.582%

Piper Jaffray, Effective Rate 0.623%

Jefferies, Effective Rate 0.666%

Oppenheimer, Effective Rate 0.7559%

Park Rapids Area Independent School District No. 309

Aug 30, 2010 . . . . . . $3,840,000

General Obligation Alternative Facilities Bonds, Series 2010A (MN SD Credit Enhancement Program) (bank qualified) (book entry).

Dated Sep 16, 2010.

Due Feb 1, 2027 to 2030.

Callable Feb 1, 2019 at par.

Winning bid: Wells Fargo Secs, at 99.4564, TIC 3.5645%.

Due Amount Cpn Yield Conc Ins
2/1/27 $905,000 3.25% 3.30%
2/1/28 $940,000 3.25% 3.36%
2/1/29 $980,000 3.50% 3.44%
2/1/30 $1,015,000 4.00% 3.54%

L.O.: Knutson, Flynn & Deans, Mendota Heights, MN.

F.A.: Ehlers & Associates, Inc., Roseville, MN.

Other bidders were:

BMO Capital Markets, TIC 3.6155%

Cronin, TIC 3.7896%

Sterne Agee, TIC 3.7936%

Piper Jaffray, TIC 3.8433%

Robert W. Baird, TIC 3.8533%

St. Francis (City)

Aug 30, 2010 . . . . . . $1,600,000

General Obligation Sewer Revenue Bonds, Series 2010A (bank qualified) (book entry).

Dated Sep 1, 2010.

Due Feb 1, 2012 to 2031.

Callable Feb 1, 2019 at par.

Winning bid: Wells Fargo Advisors, at 98.7292, TIC 3.1451%.

Due Amount Cpn Yield Conc Ins
2/1/12 $30,000 2.00% 0.50% MNCEP
2/1/13 $60,000 2.00% 0.65% MNCEP
2/1/14 $60,000 2.00% 0.80% MNCEP
2/1/15 $60,000 2.00% 1.15% MNCEP
2/1/16 $60,000 2.25% 1.40% MNCEP
2/1/17 $65,000 2.25% 1.70% MNCEP
2/1/18 $65,000 2.25% 1.90% MNCEP
2/1/19 $70,000 2.25% 2.10% MNCEP
2/1/20 $70,000 2.25% 2.30% MNCEP
2/1/21 $75,000 2.40% 2.45% MNCEP
2/1/22 $80,000 2.60% 2.60% MNCEP
2/1/23 $80,000 2.75% 2.75% MNCEP
2/1/24 $85,000 3.00% 3.00% MNCEP
2/1/25 $90,000 3.00% 3.05% MNCEP
2/1/26 $95,000 3.10% 3.15% MNCEP
2/1/29 $315,000 3.375% 3.45% MNCEP
2/1/31 $240,000 3.50% 3.65% MNCEP

L.O.: Kennedy & Graven, Minneapolis, MN.

F.A.: Northland Securities, Inc., Minneapolis, MN.

Other bidders were:

Cronin, TIC 3.2333%

NORTH DAKOTA

West Fargo (City)

Aug 30, 2010 . . . . . . $525,000

Sidewalk Warrants of 2010 (bank qualified) (book entry).

Dated Sep 15, 2010.

Due May 1, 2011 to 2020.

Callable May 1, 2015 at par.

Winning bid: Northland Securities, at n/a, NIC 2.0414%.

Due Amount Cpn Yield Conc Ins
5/1/11 $50,000 1.00% 0.50%
5/1/12 $55,000 1.00% 0.65%
5/1/13 $55,000 1.00% 0.85%
5/1/14 $55,000 1.00% 1.00%
5/1/16 $110,000 1.50% 1.50%
5/1/18 $100,000 2.00% 2.00%
5/1/20 $100,000 2.40% 2.40%

L.O.: Ohnstad Twichell, West Fargo, ND.

F.A.: Dougherty & Company LLC, Bismarck, ND.

Other bidders were:

Dougherty, NIC 2.3702%

West Fargo (City)

Aug 30, 2010 . . . . . . $7,130,000

Refunding Improvement Bonds of 2010, Series B (bank qualified) (book entry).

Dated Sep 15, 2010.

Due May 1, 2012 to 2035.

Callable May 1, 2019 at par.

Winning bid: UBS Financial Svcs, at n/a, NIC 3.3087%.

Due Amount Cpn Yield Conc Ins
5/1/12 $295,000 2.00% NRO NRO
5/1/13 $335,000 2.00% NRO NRO
5/1/14 $335,000 2.00% NRO NRO
5/1/15 $335,000 2.00% NRO NRO
5/1/16 $335,000 2.00% NRO NRO
5/1/17 $330,000 2.00% NRO NRO
5/1/18 $320,000 2.00% NRO NRO
5/1/19 $320,000 2.50% NRO NRO
5/1/20 $300,000 2.50% NRO NRO
5/1/21 $300,000 2.75% NRO NRO
5/1/22 $295,000 2.75% NRO NRO
5/1/23 $295,000 3.00% NRO NRO
5/1/24 $290,000 3.00% NRO NRO
5/1/25 $290,000 3.00% NRO NRO
5/1/26 $290,000 3.125% NRO NRO
5/1/27 $290,000 3.25% NRO NRO
5/1/28 $280,000 3.50% NRO NRO
5/1/29 $280,000 3.50% NRO NRO
5/1/30 $270,000 3.625% NRO NRO
5/1/31 $270,000 3.75% NRO NRO
5/1/35 $1,075,000 4.00% NRO NRO

Other managers: J.P. Morgan Securities Inc..

L.O.: Ohnstad Twichell, West Fargo, ND.

F.A.: Dougherty & Company LLC, Bismarck, ND.

Other bidders were:

Robert W. Baird, NIC 3.3449%

Piper Jaffray, NIC 3.4156%

Morgan Keegan, NIC 3.4469%

BMO Capital Markets, NIC 3.6753%

SOUTH DAKOTA

South Dakota Conservancy District

Aug 30, 2010 . . . . . . $55,000,000

State Revolving Fund Program Bond Anticipation Notes, Series 2010 (book entry).

Dated Sep 8, 2010.

Due Sep 30, 2011.

Non-callable.

Winning bid: JPMorgan, at 101.4800, TIC 0.3558%.

Due Amount Cpn Yield Conc Ins
9/30/11 $55,000,000 1.75% NRO NRO

L.O.: Perkins Coie, Chicago, IL; and State Attorney General.

F.A.: Public Financial Management, Inc., Minneapolis, MN.

Other bidders were:

Morgan Stanley, TIC 0.3624%

Goldman Sachs, TIC 0.4046%

Citigroup, TIC 0.4083%

Wells Fargo Secs, TIC 0.4381%

Piper Jaffray, TIC 0.4887%

Barclays Capital, TIC 0.556%

TEXAS

Temple (City)

Aug 30, 2010 . . . . . . $17,210,000

Utility System Revenue Bonds, Series 2010 (bank qualified) (book entry).

Dated Aug 15, 2010.

Due Aug 1, 2012 to 2030.

Callable Aug 1, 2019 at par.

Winning bid: Wells Fargo Advisors, at 100.0716, TIC 3.2725%.

Due Amount Cpn Yield Conc Ins
8/1/12 $550,000 3.00% 0.50%
8/1/13 $560,000 3.00% 0.65%
8/1/14 $570,000 3.00% 0.90%
8/1/15 $580,000 3.00% 1.30%
8/1/16 $595,000 3.00% 1.65%
8/1/17 $610,000 3.00% 1.90%
8/1/18 $630,000 3.00% 2.10%
8/1/19 $650,000 2.25% 2.25%
8/1/20 $670,000 2.375% 2.50%
8/1/21 $690,000 2.625% 2.75%
8/1/22 $710,000 2.75% 2.85%
8/1/23 $735,000 3.00% 3.00%
8/1/24 $765,000 3.00% 3.10%
8/1/25 $800,000 3.125% 3.25%
8/1/26 $830,000 3.25% 3.35%
8/1/27 $1,710,000 3.375% 3.50%
8/1/28 $1,780,000 3.50% 3.60%
8/1/29 $1,850,000 3.625% 3.70%
8/1/30 $1,925,000 3.75% 3.80%

Other managers: BOSC, Inc., KeyBanc Capital Markets.

L.O.: McCall Parkhurst & Horton, Austin, TX; and State Attorney General.

F.A.: Specialized Public Finance Inc., Austin, TX.

Other bidders were:

UBS Financial Svcs, TIC 3.309%

FirstSouthwest, TIC 3.3603%

Hutchinson Shockey, TIC 3.3848%

BMO Capital Markets, TIC 3.3949%

Fidelity Capital, TIC 3.4293%

Southwest Securities, TIC 3.4366%

Raymond James, TIC 3.4556%

Piper Jaffray, TIC 3.5462%

Frost National Bank, TIC 3.5655%

SAMCO Cap Mkts, TIC 3.6049%

Morgan Keegan, TIC 3.6865%

TAXABLE ISSUES

ILLINOIS

McHenry (City)

Aug 30, 2010 . . . . . . $5,665,000

Taxable General Obligation Bonds, Series 2010C (Build America Bonds-Direct Payment) (book entry).

Dated Sep 15, 2010.

Due Dec 15, 2011 to 2029.

Callable Dec 15, 2020 at par.

Winning bid: Robert W. Baird, at n/a, TIC 2.9031%.

Due Amount Cpn Yield Conc Ins
12/15/11 $175,000 1.00% 1.00%
12/15/12 $230,000 1.20% 1.20%
12/15/13 $235,000 1.55% 1.55%
12/15/14 $235,000 1.90% 1.90%
12/15/15 $245,000 2.25% 2.25%
12/15/16 $250,000 2.65% 2.65%
12/15/17 $255,000 2.85% 2.85%
12/15/18 $265,000 3.20% 3.20%
12/15/19 $275,000 3.45% 3.45%
12/15/20 $285,000 3.65% 3.65%
12/15/22 $610,000 4.05% 4.05%
12/15/24 $665,000 4.55% 4.50%
12/15/26 $725,000 4.80% 4.75%
12/15/29 $1,215,000 5.25% 5.25%

Other managers: Coastal Securities Corp., CL King & Associates, Duncan-Williams, Inc., Kildare Capital, Inc., Loop Capital Markets, LLC, SAMCO Capital Markets, Crews & Associates, Inc., FTN Financial Capital Markets, Cronin & Co., Inc., Edward D. Jones & Co., Jackson Securities Inc., Wedbush Securities.

L.O.: Chapman and Cutler, Chicago, IL.

F.A.: Speer Financial, Inc., Chicago, IL.

Other bidders were:

Vining-Sparks IBG, TIC 2.9521%

BMO Capital Markets, TIC 3.0304%

M&I Marshall, TIC 3.0559%

Sauk Valley Community College District No. 506

Aug 30, 2010 . . . . . . $510,000

Taxable General Obligation Community College Bonds, Series 2010A (book entry).

Dated Sep 21, 2010.

Due Feb 1, 2012.

Non-callable.

Winning bid: M&I Marshall, at 99.6630, TIC 1.449%.

Due Amount Cpn Yield Conc Ins
2/1/12 $510,000 1.20% NRO NRO

L.O.: Chapman and Cutler, Chicago, IL.

F.A.: PMA Securities, Inc, Naperville, IL.

Other bidders were:

Bernardi Securities, TIC 2.7473%

MINNESOTA

Chaska (City)

Aug 30, 2010 . . . . . . $405,000

Taxable General Obligation Tax Abatement Bonds, Series 2010D (book entry).

Dated Sep 15, 2010.

Due Feb 1, 2017 to 2033.

Callable Feb 1, 2020 at par.

Winning bid: United Banker's Bk, at n/a, TIC 5.0507%.

Due Amount Cpn Yield Conc Ins
2/1/24 $110,000 4.00% 4.00%
2/1/29 $135,000 5.00% 5.00%
2/1/33 $160,000 5.25% 5.25%

L.O.: Dorsey & Whitney, Minneapolis, MN.

F.A.: Springsted Incorporated, St. Paul, MN.

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Competitive sales results
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