Results of Competitive Sales

NEW YORK

Holland Patent Central School District

Sep 2, 2011 . . . . . . $815,175

Bond Anticipation Notes, 2011 (bank qualified).

Dated Sep 16, 2011.

Due Sep 14, 2012.

Purchased $815,180.00 by JPMorgan Chase, at 1.18%, effective rate 1.18%.

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

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

Other bidders were:

First Niagara Bank, Effective Rate 1.35%

Roosevelt & Cross, Effective Rate 1.784%

Adirondack Bank, Effective Rate 2.125%

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Competitive sales results
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