Results of Competitive Sales

ARKANSAS

Jonesboro School District No. 1 of Craighead County

Feb 1, 2011 . . . . . . $5,970,000

Construction Bonds, Series B (Arkansas School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Feb 1, 2011.

Due Feb 1, 2012 to 2041.

Callable Feb 1, 2016 at par.

Winning bid: Ross Sinclaire, at 98.2942, TIC 4.3562%.

Due Amount Cpn Yield Conc Ins
2/1/13 $165,000 0.75% NRO NRO
2/1/14 $100,000 2.00% NRO NRO
2/1/15 $100,000 2.00% NRO NRO
2/1/17 $215,000 2.15% NRO NRO
2/1/19 $235,000 2.70% NRO NRO
2/1/21 $255,000 3.10% NRO NRO
2/1/23 $285,000 3.45% NRO NRO
2/1/25 $310,000 3.70% NRO NRO
2/1/27 $345,000 4.00% NRO NRO
2/1/29 $390,000 4.10% NRO NRO
2/1/31 $435,000 4.20% NRO NRO
2/1/35 $1,050,000 4.40% NRO NRO
2/1/38 $950,000 4.50% NRO NRO
2/1/41 $1,135,000 4.60% NRO NRO

L.O.: Friday Eldredge & Clark, Little Rock, AR.

F.A.: Stephens Inc., Little Rock, AR.

Other bidders were:

FTN Fin Cap Mkts, TIC 4.4763%

Morgan Keegan, TIC 4.5125%

Crews & Associates, TIC 4.5945%

Raymond James, TIC 4.5984%

Stephens, TIC 4.6407%

Sterne Agee, TIC 4.6968%

ILLINOIS

Geneva Park District

Jan 13, 2011 . . . . . . $1,419,930

General Obligation Limited Tax Park Bonds, Series 2011 (bank qualified) (book entry).

Dated Feb 1, 2011.

Due Dec 15, 2011 to 2012.

Non-callable.

Winning bid: First Trust, at n/a, NIC 1.4%.

Due Amount Cpn Yield Conc Ins
12/15/11 $700,675 1.50% 1.00%
12/15/12 $719,255 1.50% 1.25%

In association with: BMO Capital Markets.

L.O.: Miller, Canfield, Paddock & Stone, P.L.C., Chicago, IL.

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

Other bidders were:

Oppenheimer, NIC 2.165%

IOWA

Ottumwa (City)

Feb 1, 2011 . . . . . . $3,600,000

General Obligation Bonds, Series 2011 (bank qualified) (book entry).

Dated Mar 3, 2011.

Due Jun 1, 2012 to 2014.

Non-callable.

Winning bid: Hutchinson Shockey, at n/a, TIC 0.968%.

Due Amount Cpn Yield Conc Ins
6/1/12 $1,600,000 2.00% NRO NRO
6/1/13 $1,700,000 2.00% NRO NRO
6/1/14 $300,000 2.00% NRO NRO

L.O.: Ahlers & Cooney, P.C., Des Moines, IA.

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

Other bidders were:

Country Club Bank, TIC 0.9726%

UMB Bank, TIC 1.018%

Morgan Keegan, TIC 1.0235%

D.A. Davidson, TIC 1.0946%

Robert W. Baird, TIC 1.1357%

Bankers' Bank, TIC 1.1762%

Piper Jaffray, TIC 1.2022%

BMO Capital Markets, TIC 1.2449%

Oppenheimer, TIC 1.8959%

MAINE

Bangor (City)

Feb 1, 2011 . . . . . . $6,391,000

2011 General Obligation Bonds (bank qualified) (book entry).

Dated Feb 1, 2011.

Due Apr 1, 2012 to 2021.

Non-callable.

Winning bid: UBS Financial Svcs, at 101.2681, TIC 2.5085%.

Due Amount Cpn Yield Conc Ins
4/1/12 $606,000 2.00% NRO NRO
4/1/13 $620,000 2.00% NRO NRO
4/1/14 $605,000 2.00% NRO NRO
4/1/15 $625,000 2.00% NRO NRO
4/1/16 $650,000 2.00% NRO NRO
4/1/17 $655,000 3.00% NRO NRO
4/1/18 $675,000 3.00% NRO NRO
4/1/19 $700,000 3.00% NRO NRO
4/1/20 $730,000 3.00% NRO NRO
4/1/21 $525,000 3.25% NRO NRO

Other managers: Citigroup Global Markets, Inc., Roosevelt & Cross, Inc., CL King & Associates, Fidelity Capital Markets, Bank of New York Mellon Capital Markets, LLC.

L.O.: Pierce Atwood LLP, Portland, ME.

F.A.: Moors & Cabot, Inc., Boston, MA.

Other bidders were:

Raymond James, TIC 2.5434%

Piper Jaffray, TIC 2.5475%

UMB Bank, TIC 2.5511%

Morgan Keegan, TIC 2.5896%

Robert W. Baird, TIC 2.6295%

M&I Marshall, TIC 2.6828%

BMO Capital Markets, TIC 2.7033%

Janney Montgomery, TIC 2.9276%

Morgan Stanley, TIC 2.9985%

Boenning&Scattergood, TIC 3.0431%

MASSACHUSETTS

Norfolk County

Feb 1, 2011 . . . . . . $410,000

General Obligation Bond Anticipation Notes (bank qualified).

Dated Feb 11, 2011.

Due Feb 10, 2012.

Purchased $410,000.00 by Eastern Bank, at 1.5%, effective rate 1.5%.

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

F.A.: FirstSouthwest, Boston, MA.

Orleans (Town)

Feb 1, 2011 . . . . . . $6,804,000

General Obligation Municipal Purpose Loan of 2011 Bonds (bank qualified) (book entry).

Dated Feb 15, 2011.

Due Feb 15, 2012 to 2041.

Callable Feb 15, 2021 at par.

Winning bid: Robert W. Baird, at 100.7000, TIC 4.0133%.

Due Amount Cpn Yield Conc Ins
2/15/12 $489,000 3.00% 0.60%
2/15/13 $480,000 3.00% 0.75%
2/15/14 $480,000 2.00% 1.15%
2/15/15 $480,000 3.00% 1.62%
2/15/16 $475,000 2.50% 1.90%
2/15/17 $260,000 3.00% 2.20%
2/15/18 $255,000 3.25% 2.55%
2/15/19 $250,000 3.50% 2.84%
2/15/20 $250,000 4.00% 3.11%
2/15/21 $250,000 3.30% 3.35%
2/15/22 $180,000 4.00% 3.50%
2/15/23 $180,000 4.00% 3.70%
2/15/24 $175,000 4.00% 3.80%
2/15/25 $175,000 4.00% 3.90%
2/15/26 $175,000 4.00% 4.00%
2/15/27 $170,000 4.00% 4.10%
2/15/28 $170,000 4.00% 4.15%
2/15/29 $170,000 4.125% 4.25%
2/15/30 $170,000 4.25% 4.35%
2/15/31 $170,000 4.375% 4.40%
2/15/32 $140,000 4.50% 4.65%
2/15/33 $140,000 4.625% 4.70%
2/15/34 $140,000 4.625% 4.75%
2/15/35 $140,000 4.75% 4.80%
2/15/36 $140,000 4.75% 4.85%
2/15/37 $140,000 4.875% 4.90%
2/15/38 $140,000 4.875% 4.90%
2/15/39 $140,000 4.875% 4.90%
2/15/40 $140,000 5.00% 4.90%
2/15/41 $140,000 5.00% 4.90%

Other managers: Eastern Bank Capital Markets, Corby Capital Markets, Inc., Coastal Securities Corp., Crews & Associates, Inc., Edward D. Jones & Co., Kildare Capital, Inc., SAMCO Capital Markets, Loop Capital Markets, LLC, NW Capital Markets Inc., Stifel, Nicolaus & Co., Inc., FTN Financial Capital Markets, Jackson Securities Inc., Davenport & Company LLC, Vining-Sparks IBG, Limited Partnership, Isaak Bond Investments, Inc..

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

F.A.: Cape Cod Five Cents Savings Bank, Harwich Port, MA.

Other bidders were:

UBS Financial Svcs, TIC 4.0807%

Janney Montgomery, TIC 4.2693%

MICHIGAN

Athens Area Schools

Jan 31, 2011 . . . . . . $2,850,000

2011 School Building and Site Bonds (General Obligation-Unlimited Tax) (bank qualified) (book entry).

Dated Feb 1, 2011.

Due May 1, 2012 to 2016.

Non-callable.

Winning bid: Stifel Nicolaus, at 98.5000, TIC 4.0937%.

Due Amount Cpn Yield Conc Ins
5/1/12 $485,000 3.25% 2.35% AGM
5/1/13 $525,000 3.25% 2.75% AGM
5/1/14 $570,000 3.25% 3.25% AGM
5/1/15 $615,000 3.625% 3.625% AGM
5/1/16 $655,000 4.00% 4.00% AGM

Other managers: Raymond James & Associates, Inc., Comerica Securities, Oppenheimer & Co., Inc..

L.O.: Thrun Law Firm, P.C., East Lansing, MI.

F.A.: Stauder, Barch & Associates, Inc., Ann Arbor, MI.

NEW JERSEY

Alpine Borough

Feb 1, 2011 . . . . . . $770,000

Bond Anticipation Notes (bank qualified).

Dated Feb 8, 2011.

Due Feb 7, 2012.

Purchased $770,000.00 by TD Bank, N.A., at 1.59%, effective rate 1.59%.

L.O.: Wilentz, Goldman & Spitzer, Woodbridge, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Oppenheimer, Effective Rate 1.735%

Carteret Borough

Feb 1, 2011 . . . . . . $3,950,000

Bond Anticipation Notes (bank qualified) (book entry).

Dated Feb 9, 2011.

Due Feb 9, 2012.

Purchased $3,950,000.00 by Beneficial Bk, at 2.0%, plus $21,804.00, effective rate 1.44%.

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

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 1.48%

Oppenheimer, Effective Rate 1.55%

Woodbridge Township Board of Education

Feb 1, 2011 . . . . . . $39,135,000

Temporary Notes.

Dated Feb 8, 2011.

Due Feb 7, 2012.

Purchased $39,135,000.00 by Oppenheimer, at 1.75%, plus $188,708.00, effective rate 1.2665%.

L.O.: Wilentz, Goldman & Spitzer, Woodbridge, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 2.266%

NEW YORK

East Aurora Union Free School District

Feb 1, 2011 . . . . . . $19,800,000

Bond Anticipation Notes, 2011.

Dated Feb 10, 2011.

Due Feb 9, 2012.

Purchased $19,800,000.00 by TD Securities, at 1.0%, plus $77,299.20, effective rate 0.6085%.

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

F.A.: Capital Markets Advisors, LLC, Orchard Park, NY.

Other bidders were:

KeyBanc Cap Mkts, Effective Rate 0.641%

Janney Montgomery, Effective Rate 0.6847%

Jefferies, Effective Rate 0.6944%

Oppenheimer, Effective Rate 0.9337%

Oppenheimer, Effective Rate 1.0481%

Oppenheimer, Effective Rate 1.1774%

Morgan Stanley, Effective Rate 1.633%

Lafayette Central School District

Feb 1, 2011 . . . . . . $188,878

School District (Serial) Bonds, 2011 (bank qualified).

Dated Feb 15, 2011.

Due Feb 15, 2012 to 2016.

Non-callable.

Winning bid: Bank of Greene Co, at n/a, NIC 2.388%.

Due Amount Cpn Yield Conc Ins
2/15/12 $33,878 1.75% NRO NRO
2/15/13 $35,000 2.00% NRO NRO
2/15/14 $40,000 2.25% NRO NRO
2/15/15 $40,000 2.50% NRO NRO
2/15/16 $40,000 2.625% NRO NRO

L.O.: Trespasz & Marquardt, LLP, Syracuse, NY.

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

Other bidders were:

Roosevelt & Cross, NIC 3.2021%

M & T Bank, NIC 3.48%

Sage Rutty, NIC 3.6815%

Lakeland Central School District at Shrub Oak

Feb 1, 2011 . . . . . . $22,560,000

School District Refunding Serial Bonds - 2011 (State-Aid Withholding) (book entry).

Dated Feb 22, 2011.

Due May 15, 2011 to Nov 15, 2020.

Callable Nov 15, 2018 at par.

Winning bid: TD Securities, at n/a, TIC 2.7211%.

Due Amount Cpn Yield Conc Ins
5/15/11 $50,000 2.00% NRO NRO
11/15/11 $10,000 2.00% NRO NRO
11/15/12 $2,280,000 3.00% NRO NRO
11/15/13 $2,345,000 4.00% NRO NRO
11/15/14 $2,435,000 5.00% NRO NRO
11/15/15 $2,535,000 5.00% NRO NRO
11/15/16 $2,625,000 5.00% NRO NRO
11/15/17 $2,720,000 5.00% NRO NRO
11/15/18 $2,805,000 5.00% NRO NRO
11/15/19 $2,880,000 5.00% NRO NRO
11/15/20 $1,875,000 5.00% NRO NRO

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

F.A.: Capital Markets Advisors, LLC, Great Neck, NY.

Other bidders were:

Janney Montgomery, TIC 2.7213%

Stone & Youngberg, TIC 2.7447%

Roosevelt & Cross, TIC 2.7613%

Wells Fargo Secs, TIC 2.7765%

Piper Jaffray, TIC 2.7769%

Robert W. Baird, TIC 2.7986%

BMO Capital Markets, TIC 2.8269%

Jefferies, TIC 2.867%

JPMorgan, TIC 2.8829%

Morgan Stanley, TIC 3.1405%

OHIO

Napoleon (City)

Feb 1, 2011 . . . . . . $1,200,000

Capital Facilities Bond Anticipation Notes, Serioes 2011 (bank qualified).

Dated Feb 15, 2011.

Due Feb 15, 2012.

Purchased $1,200,000.00 by First Merit, at 0.85%, effective rate 0.85%.

L.O.: Squire, Sanders & Dempsey, Cleveland, OH.

F.A.: Sudsina & Associates, Aurora, OH.

Other bidders were:

Fifth Third Sec, Effective Rate 0.9523%

KeyBanc Cap Mkts, Effective Rate 1.049%

George K. Baum, Effective Rate 1.11%

Oppenheimer, Effective Rate 1.1845%

KeyBank NY, Effective Rate 1.77%

Sweney Cartwright, Effective Rate 2.1%

TEXAS

Mckinney Economic Development Corporation

Feb 1, 2011 . . . . . . $6,860,000

Sales Tax Revenue Bonds, Series 2011 (book entry).

Dated Feb 1, 2011.

Due Sep 1, 2012 to 2025.

Callable Mar 1, 2019 at par.

Winning bid: JPMorgan, at 100.0000, TIC 3.7946%.

Due Amount Cpn Yield Conc Ins
9/1/12 $395,000 2.50% 0.80%
9/1/13 $400,000 2.50% 1.15%
9/1/14 $410,000 3.00% 1.65%
9/1/15 $420,000 3.00% 2.06%
9/1/16 $435,000 3.00% 2.35%
9/1/17 $450,000 3.00% 2.70%
9/1/18 $470,000 3.00% 3.00%
9/1/19 $490,000 3.50% 3.38%
9/1/20 $500,000 4.00% 3.62%
9/1/21 $525,000 4.00% 3.85%
9/1/22 $550,000 4.00% 4.10%
9/1/23 $575,000 4.125% 4.20%
9/1/24 $605,000 4.25% 4.35%
9/1/25 $635,000 4.375% 4.52%

Other managers: UBS Financial Services, Inc., BOSC, Inc..

L.O.: Fulbright & Jaworski, Dallas, TX; and State Attorney General.

F.A.: Southwest Securities, Inc., Allen, TX.

Other bidders were:

Southwest Securities, TIC 3.9904%

Robert W. Baird, TIC 4.1033%

Hutchinson Shockey, TIC 4.424%

WISCONSIN

Franklin Public School District

Dec 15, 2010 . . . . . . $2,500,000

Tax and Revenue Anticipation Promissory Notes (bank qualified) (book entry).

Dated Dec 23, 2010.

Due Jul 29, 2011.

Purchased $2,500,000.00 by M&I Bank, at 1.0%, plus $4,850.00, effective rate 0.6767%.

L.O.: Quarles & Brady, Milwaukee, WI.

Other bidders were:

Robert W. Baird, Effective Rate 0.7267%

JPMorgan Chase, Effective Rate 0.8%

Bankers' Bank, Effective Rate 1.0%

Oppenheimer, Effective Rate 1.7483%

Stevens Point Area Public School District

Jan 31, 2011 . . . . . . $5,150,000

General Obligation Refunding Bonds, Series 2011 (bank qualified) (book entry).

Dated Feb 22, 2011.

Due Apr 1, 2011 to 2016.

Non-callable.

Winning bid: UMB Bank, at n/a, TIC 1.6343%.

Due Amount Cpn Yield Conc Ins
4/1/11 $215,000 1.00% NRO NRO
4/1/12 $70,000 1.00% NRO NRO
4/1/13 $1,190,000 1.00% NRO NRO
4/1/14 $1,210,000 1.40% NRO NRO
4/1/15 $1,225,000 1.50% NRO NRO
4/1/16 $1,240,000 1.80% NRO NRO

L.O.: Quarles & Brady, Milwaukee, WI.

F.A.: PMA Securities, Inc, Naperville, IL; and PMA Securities, Inc., Milwaukee, WI.

Other bidders were:

M&I Marshall, TIC 1.6388%

BMO Capital Markets, TIC 1.6661%

Morgan Keegan, TIC 1.6683%

Wells Fargo Secs, TIC 1.6703%

Robert W. Baird, TIC 1.6998%

Piper Jaffray, TIC 1.7149%

JPMorgan, TIC 1.721%

Citigroup, TIC 1.8003%

Incapital, TIC 1.8085%

Bankers' Bank, TIC 1.8574%

Hutchinson Shockey, TIC 1.9736%

TAXABLE ISSUES

NEW JERSEY

Plumsted Township

Jan 12, 2011 . . . . . . $750,000

Bond Anticipation Note (book entry).

Dated Jan 25, 2011.

Due Jan 25, 2012.

Purchased $750,000.00 by Beneficial Bk, at 3.3%, effective rate 3.3%.

L.O.: GluckWalrath, LLP, Trenton, NJ.

Other bidders were:

Oppenheimer, Effective Rate 3.466%

TEXAS

Mckinney Economic Development Corporation

Feb 1, 2011 . . . . . . $9,600,000

Sales Tax Revenue Bonds, Taxable Series 2011 (book entry).

Dated Feb 1, 2011.

Due Sep 1, 2012 to 2025.

Callable Mar 1, 2016 at par.

Winning bid: Morgan Keegan, at 100.0000, TIC 4.9092%.

Due Amount Cpn Yield Conc Ins
9/1/12 $505,000 4.00% 1.30%
9/1/13 $520,000 4.00% NRO NRO
9/1/14 $535,000 4.00% NRO NRO
9/1/15 $555,000 4.00% 3.20%
9/1/16 $575,000 4.00% 3.60%
9/1/17 $605,000 4.00% 4.00%
9/1/18 $635,000 4.15% 4.15%
9/1/19 $665,000 4.40% 4.40%
9/1/20 $715,000 4.60% 4.60%
9/1/21 $755,000 5.00% 5.00%
9/1/22 $800,000 5.15% 5.15%
9/1/23 $855,000 5.35% 5.35%
9/1/24 $910,000 5.50% 5.50%
9/1/25 $970,000 5.60% 5.60%

L.O.: Fulbright & Jaworski, Dallas, TX; and State Attorney General.

F.A.: Southwest Securities, Inc., Allen, TX.

Other bidders were:

Robert W. Baird, TIC 4.9169%

FirstSouthwest, TIC 5.0792%

BMO Capital Markets, TIC 5.1237%

Southwest Securities, TIC 5.1253%

Hutchinson Shockey, TIC 5.5713%

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Competitive sales results
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