Results of Competitive Sales

KENTUCKY

Versailles (City)

Feb 28, 2013 . . . . . . $7,835,000

Water and Sewer Refunding Revenue Bonds, Series of 2013 (bank qualified) (book entry).

Dated Mar 14, 2013.

Due Jun 1, 2013 to Dec 1, 2025.

Callable Dec 1, 2022 at par.

Winning bid: Stifel Nicolaus, at 99.0000, NIC 2.2099%.

Due Amount Cpn Yield Conc Ins
6/1/13 $85,000 1.00% 0.40%
12/1/13 $360,000 1.00% 0.45%
12/1/14 $365,000 1.00% 0.55%
12/1/15 $365,000 1.00% 0.85%
12/1/16 $370,000 1.00% 0.85%
12/1/17 $375,000 1.50% 1.10%
12/1/18 $385,000 1.50% 1.25%
12/1/19 $390,000 1.50% 1.55%
12/1/20 $390,000 2.00% 1.80%
12/1/21 $400,000 2.00% 2.00%
12/1/22 $780,000 2.00% 2.10%
12/1/23 $795,000 2.125% 2.25%
12/1/24 $805,000 2.25% 2.35%
12/1/25 $1,970,000 2.375% 2.40%

L.O.: Steptoe & Johnson PLLC, Louisville, KY.

F.A.: First Kentucky Securities Corp., Frankfort, KY.

Other bidders were:

Hutchinson Shockey, NIC 2.3048%

Ross Sinclaire, NIC 2.3736%

J.J.B. Hilliard, NIC 2.4437%

Raymond James | MK, NIC 2.4583%

Janney Montgomery, NIC 2.5423%

Guggenheim Secs, NIC 2.6516%

MASSACHUSETTS

Boston (City)

Feb 28, 2013 . . . . . . $24,380,000

General Obligation Refunding Bonds, 2013 Series B (book entry).

Dated Mar 14, 2013.

Due Jan 1, 2014 to 2026.

Callable Jan 1, 2023 at par.

Winning bid: BA Merrill Lynch, at 111.1307, TIC 2.1042%.

Due Amount Cpn Yield Conc Ins
1/1/14 $3,740,000 4.00% 0.17%
1/1/15 $10,000 2.00% 0.30%
1/1/16 $10,000 3.00% 0.43%
1/1/17 $10,000 4.00% 0.57%
1/1/18 $10,000 4.00% 0.80%
1/1/19 $10,000 4.00% 1.03%
1/1/20 $10,000 4.00% 1.27%
1/1/21 $3,070,000 4.00% 1.54%
1/1/22 $2,465,000 4.00% 1.72%
1/1/23 $2,460,000 4.00% 1.91%
1/1/24 $5,095,000 4.00% 2.01%
1/1/25 $5,090,000 2.125% 2.25%
1/1/26 $2,400,000 4.00% 2.20%

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: Public Financial Management, Inc., Boston, MA.

Other bidders were:

Hutchinson Shockey, TIC 2.2151%

Robert W. Baird, TIC 2.2189%

Fidelity Capital, TIC 2.2199%

Citigroup, TIC 2.2389%

JPMorgan, TIC 2.3178%

Boston (City)

Feb 28, 2013 . . . . . . $144,855,000

General Obligation Bonds, 2013 Series A (book entry).

Dated Mar 14, 2013.

Due Mar 1, 2014 to 2033.

Callable Mar 1, 2023 at par.

Winning bid: BA Merrill Lynch, at 113.6834, TIC 2.3331%.

Due Amount Cpn Yield Conc Ins
3/1/14 $7,440,000 4.00% 0.18%
3/1/15 $7,510,000 5.00% 0.30%
3/1/16 $7,885,000 5.00% 0.43%
3/1/17 $8,285,000 5.00% 0.57%
3/1/18 $8,700,000 5.00% 0.80%
3/1/19 $7,205,000 5.00% 1.03%
3/1/20 $7,570,000 5.00% 1.27%
3/1/21 $7,945,000 5.00% 1.50%
3/1/22 $8,345,000 5.00% 1.68%
3/1/23 $8,760,000 5.00% 1.87%
3/1/24 $5,745,000 5.00% 1.97%
3/1/25 $6,030,000 4.00% 2.10%
3/1/26 $6,270,000 2.50% 2.50%
3/1/27 $6,430,000 4.00% 2.44%
3/1/28 $6,680,000 4.00% 2.57%
3/1/29 $6,360,000 4.00% 2.63%
3/1/30 $6,620,000 3.00% 3.00%
3/1/31 $6,820,000 3.00% 3.03%
3/1/32 $7,020,000 3.00% 3.08%
3/1/33 $7,235,000 3.00% 3.12%

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: Public Financial Management, Inc., Boston, MA.

Other bidders were:

Citigroup, TIC 2.3455%

Wells Fargo Secs, TIC 2.38%

Barclays Capital, TIC 2.3899%

Raymond James | MK, TIC 2.4139%

JPMorgan, TIC 2.4205%

Sherborn (Town)

Feb 28, 2013 . . . . . . $3,147,000

General Obligation Municipal Purpose Loan of 2013 Bonds (bank qualified) (book entry).

Dated Mar 11, 2013.

Due May 15, 2014 to 2026.

Callable May 15, 2021 at par.

Winning bid: Stifel Nicolaus, at 102.8094, TIC 1.2045%.

Due Amount Cpn Yield Conc Ins
5/15/14 $407,000 1.50% 0.25%
5/15/15 $400,000 1.50% 0.35%
5/15/16 $390,000 1.50% 0.45%
5/15/17 $385,000 1.50% 0.60%
5/15/18 $370,000 1.50% 0.80%
5/15/19 $345,000 2.00% 1.00%
5/15/20 $335,000 2.00% 1.25%
5/15/21 $255,000 2.00% 1.45%
5/15/26 $260,000 2.00% 2.00%

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: Eastern Bank Municipal Finance, Boston, MA.

Other bidders were:

UMB Bank, TIC 1.2102%

Fidelity Capital, TIC 1.2368%

Janney Montgomery, TIC 1.2774%

FTN Fin Cap Mkts, TIC 1.2853%

UBS Financial Svcs, TIC 1.2953%

Raymond James | MK, TIC 1.2974%

Robert W. Baird, TIC 1.3048%

Ross Sinclaire, TIC 1.3651%

Sterne Agee, TIC 1.4148%

MINNESOTA

Eastern Carver County Independent School District No. 112

Feb 28, 2013 . . . . . . $65,815,000

General Obligation School Building Refunding Bonds Series 2013A (MN SD Credit Enhancement Program) (book entry).

Dated Mar 26, 2013.

Due Feb 1, 2018 to 2028.

Callable Feb 1, 2023 at par.

Winning bid: Piper Jaffray, at 109.2821, TIC 2.3209%.

Due Amount Cpn Yield Conc Ins
2/1/18 $4,340,000 4.00% 0.87%
2/1/19 $4,575,000 4.00% 1.10%
2/1/20 $4,725,000 4.00% 1.34%
2/1/21 $4,755,000 4.00% 1.57%
2/1/22 $5,130,000 4.00% 1.82%
2/1/23 $5,335,000 4.00% 2.01%
2/1/24 $5,565,000 3.00% 2.21%
2/1/25 $5,745,000 3.00% 2.40%
2/1/26 $8,295,000 3.00% 2.60%
2/1/27 $8,545,000 3.00% 2.73%
2/1/28 $8,805,000 3.00% 2.85%

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

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

Other bidders were:

Janney Montgomery, TIC 2.33%

Barclays Capital, TIC 2.3415%

William Blair, TIC 2.3458%

Citigroup, TIC 2.3732%

JPMorgan, TIC 2.486%

BA Merrill Lynch, TIC 2.5099%

US Bancorp Invest, TIC 2.5772%

Morgan Stanley, TIC 2.58%

Robert W. Baird, TIC 2.5814%

NEW YORK

Philadelphia Village

Feb 28, 2013 . . . . . . $135,000

Public Improvement Serial Bonds, 2013 (bank qualified).

Dated Mar 12, 2013.

Due Mar 15, 2014 to 2018.

Non-callable.

Winning bid: Sage Rutty, at n/a, NIC 1.9639%.

Due Amount Cpn Yield Conc Ins
3/15/14 $25,000 2.00% 0.60%
3/15/15 $25,000 2.00% 1.00%
3/15/16 $25,000 2.00% 1.15%
3/15/17 $30,000 2.00% 1.30%
3/15/18 $30,000 2.00% 1.40%

L.O.: Hrabchak, Gebo & Langone, P.C., Watertown, NY.

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

Other bidders were:

Roosevelt & Cross, NIC 2.2052%

Phoenix Village

Feb 28, 2013 . . . . . . $125,000

Public Improvement (Serial) Bonds, 2013 (bank qualified).

Dated Mar 15, 2013.

Due Mar 15, 2014 to 2018.

Non-callable.

Winning bid: Sage Rutty, at n/a, NIC 1.84%.

Due Amount Cpn Yield Conc Ins
3/15/14 $25,000 1.70% 0.60%
3/15/15 $25,000 1.70% 1.00%
3/15/16 $25,000 1.875% 1.15%
3/15/17 $25,000 1.875% 1.30%
3/15/18 $25,000 1.875% 1.40%

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

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

Other bidders were:

Roosevelt & Cross, NIC 1.9%

OKLAHOMA

Creek County Independent School District No. 31

Mar 1, 2013 . . . . . . $1,105,000

Building Bonds of 2013 (bank qualified) (book entry).

Dated May 1, 2013.

Due May 1, 2015.

Non-callable.

Winning bid: Baker Group, at n/a, NIC 0.55%.

Due Amount Cpn Yield Conc Ins
5/1/15 $1,105,000 0.55% 0.40%

In association with: The American Heritage Bank.

L.O.: State Attorney General.

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

Other bidders were:

BOSC, NIC 0.55%

First Bankers' Banc, NIC 0.5985%

Country Club Bank, NIC 0.6025%

UMB Bank, NIC 0.6215%

Payne County Independent School District No. 3 (Ripley)

Mar 1, 2013 . . . . . . $350,000

Building Bonds of 2013 (bank qualified) (book entry).

Dated May 1, 2013.

Due May 1, 2015 to 2018.

Non-callable.

Winning bid: BOSC, at n/a, NIC 1.0685%.

Due Amount Cpn Yield Conc Ins
5/1/15 $85,000 1.50% 0.50%
5/1/16 $85,000 1.00% 0.75%
5/1/17 $85,000 1.00% 0.90%
5/1/18 $95,000 1.00% 1.00%

In association with: Bank of Oklahoma.

L.O.: Phillips Murrah, P.C., Oklahoma City, OK; and State Attorney General.

F.A.: Stephen L. Smith Corp., Jenks, OK.

Other bidders were:

Commerce Bank, NIC 1.1185%

Baker Group, NIC 1.6266%

UTAH

Payson City

Feb 28, 2013 . . . . . . $7,385,000

Wter Revenue Refunding Bonds, Series 2013 (bank qualified) (book entry).

Dated Mar 13, 2013.

Due Oct 15, 2013 to 2029.

Callable Oct 15, 2022 at par.

Winning bid: Robert W. Baird, at 101.0841, TIC 2.3966%.

Due Amount Cpn Yield Conc Ins
10/15/13 $70,000 0.40% 0.40% AGM
10/15/14 $85,000 2.00% 0.65% AGM
10/15/15 $410,000 2.00% 0.70% AGM
10/15/16 $425,000 2.00% 0.90% AGM
10/15/17 $430,000 2.00% 1.10% AGM
10/15/18 $440,000 2.00% 1.20% AGM
10/15/19 $445,000 2.00% 1.50% AGM
10/15/20 $460,000 2.00% 1.70% AGM
10/15/21 $465,000 2.00% 1.90% AGM
10/15/22 $475,000 2.00% 2.05% AGM
10/15/23 $485,000 2.20% 2.20% AGM
10/15/24 $495,000 2.30% 2.30% AGM
10/15/25 $510,000 2.40% 2.40% AGM
10/15/26 $525,000 3.00% 2.55% AGM
10/15/27 $540,000 3.00% 2.65% AGM
10/15/28 $555,000 3.00% 2.80% AGM
10/15/29 $570,000 3.00% 2.90% AGM

Other managers: CL King & Associates, Davenport & Company LLC, Edward Jones, Coastal Securities Corp., SAMCO Capital Markets, Kildare Capital, Inc., Loop Capital Markets, LLC, Crews & Associates, Inc., Cronin & Co., Inc., Duncan-WIlliams, Inc., Ross, Sinclaire & Associates LLC, CastleOak Securities, L.P., Isaak Bond Investments, Inc., Wedbush Securities Inc., Vining-Sparks IBG, Limited Partnership, Northland Securities, Inc..

L.O.: Ballard Spahr LLP, Salt Lake City, UT.

F.A.: Zions Bank Public Finance, Salt Lake City, UT.

Other bidders were:

Guggenheim Secs, TIC 2.4769%

Stifel Nicolaus, TIC 2.5416%

BOSC, TIC 2.6682%

TAXABLE ISSUES

INDIANA

Penn Township of St. Joseph County

Feb 28, 2013 . . . . . . $1,200,000

Emergency Borrowing Notes of 2013 (Fire Fighting) (book entry).

Dated Mar 13, 2013.

Due Jun 30, 2014 to Dec 30, 2014.

Non-callable.

Winning bid: City Securities, at n/a, NIC 2.114%.

Due Amount Cpn Yield Conc Ins
6/30/14 $600,000 1.75% 0.20%
12/30/14 $600,000 2.00% 0.20%

L.O.: Barnes & Thornburg LLP, Indianapolis, IN.

F.A.: Cender and Company, L.L.C., Merrillville, IN.

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Competitive sales results
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