Results of Competitive Sales

IOWA

Storm Lake (City)

Mar 4, 2013 . . . . . . $2,230,000

Water Revenue Capital Loan Notes, Series 2013A (bank qualified) (book entry).

Dated Apr 2, 2013.

Due Jun 1, 2025 to 2033.

Callable Jun 1, 2019 at par.

Winning bid: Raymond James | MK, at 100.7227, TIC 3.1269%.

Due Amount Cpn Yield Conc Ins
6/1/25 $220,000 3.00% 2.40%
6/1/26 $225,000 3.00% 2.50%
6/1/27 $230,000 3.125% 2.65%
6/1/28 $240,000 3.125% 2.70%
6/1/29 $245,000 3.25% 2.80%
6/1/30 $255,000 3.25% 2.90%
6/1/31 $265,000 3.25% 3.00%
6/1/32 $270,000 3.25% 3.10%
6/1/33 $280,000 3.25% 3.25%

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

F.A.: Piper Jaffray & Company, Des Moines, IA.

Other bidders were:

Robert W. Baird, TIC 3.1764%

Northland Securities, TIC 3.2172%

Hutchinson Shockey, TIC 3.2207%

D.A. Davidson, TIC 3.3536%

MICHIGAN

Brandywine Community Schools

Mar 4, 2013 . . . . . . $2,240,000

2013 Refunding Bonds (General Obligation- Unlimited Tax) (bank qualified) (book entry).

Dated Mar 28, 2013.

Due May 1, 2014 to 2017.

Non-callable.

Winning bid: Piper Jaffray, at 101.9551, TIC 0.5731%.

Due Amount Cpn Yield Conc Ins
5/1/14 $575,000 1.00% 0.25% QSBLF
5/1/15 $555,000 1.375% 0.35% QSBLF
5/1/16 $545,000 1.375% 0.50% QSBLF
5/1/17 $565,000 1.375% 0.65% QSBLF

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

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

Other bidders were:

Stifel Nicolaus, TIC 0.5898%

Fifth Third Secs, TIC 0.6063%

Comerica Securities, TIC 0.6288%

BOSC, TIC 0.6406%

Robert W. Baird, TIC 0.6728%

J.J.B. Hilliard, TIC 0.7705%

Chemical Bk & Tr, TIC 0.7974%

PNC Capital Markets, TIC 0.9294%

Hutchinson Shockey, TIC 0.971%

Waverly Community Schools

Feb 25, 2013 . . . . . . $1,170,000

Revised to show the correct winner.

2013 School Facility Improvement Bonds (General Obligation-Limited Tax).

Dated Mar 12, 2013.

Due May 1, 2014 to Nov 1, 2022.

Non-callable.

Winning bid: PNC Bank, at n/a, TIC 2.0%.

Due Amount Cpn Yield Conc Ins
5/1/14 $30,000 2.00% NRO
11/1/14 $70,000 2.00% NRO
5/1/15 $65,000 2.00% NRO
11/1/15 $65,000 2.00% NRO
5/1/16 $65,000 2.00% NRO
11/1/16 $65,000 2.00% NRO
5/1/17 $65,000 2.00% NRO
11/1/17 $65,000 2.00% NRO
5/1/18 $65,000 2.00% NRO
11/1/18 $65,000 2.00% NRO
5/1/19 $65,000 2.00% NRO
11/1/19 $65,000 2.00% NRO
5/1/20 $70,000 2.00% NRO
11/1/20 $70,000 2.00% NRO
5/1/21 $70,000 2.00% NRO
11/1/21 $70,000 2.00% NRO
5/1/22 $70,000 2.00% NRO
11/1/22 $70,000 2.00% NRO

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

F.A.: Umbaugh LLP, Lansing, MI.

Other bidders were:

Huntington Bk of MI, TIC 2.31%

Hastings City Bank, TIC 2.35%

Citizens Bank, TIC 2.5%

NEW YORK

Sullivan County

Mar 4, 2013 . . . . . . $5,730,000

Bond Anticipation Notes, 2013.

Dated Mar 7, 2013.

Due Mar 7, 2014.

Purchased $5,730,000.00 by TD Securities, at 1.0%, plus $34,322.70, effective rate 0.401%.

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

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

Other bidders were:

JPMorgan Chase, Effective Rate 0.59%

Jefferies, Effective Rate 0.625%

PNC Capital Markets, Effective Rate 0.694%

Janney Montgomery, Effective Rate 0.714%

Oppenheimer, Effective Rate 0.729%

First Niagara Bank, Effective Rate 0.99%

Sullivan County

Mar 4, 2013 . . . . . . $9,500,000

Tax Anticipation Notes, 2013.

Dated Mar 19, 2013.

Due Mar 7, 2014.

Purchased $9,500,000.00 by Piper Jaffray, at 0.75%, plus $31,445.00, effective rate 0.4076%.

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

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

Other bidders were:

TD Securities, Effective Rate 0.4538%

JPMorgan Chase, Effective Rate 0.59%

Jefferies, Effective Rate 0.5983%

PNC Capital Markets, Effective Rate 0.6541%

Janney Montgomery, Effective Rate 0.6676%

Oppenheimer, Effective Rate 0.6945%

First Niagara Bank, Effective Rate 1.04%

OKLAHOMA

Sequoyah County Independent School District No. 5 (Roland)

Mar 4, 2013 . . . . . . $200,000

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

Dated May 1, 2013.

Due May 1, 2015.

Non-callable.

Winning bid: BOSC, at n/a, NIC 0.7%.

Due Amount Cpn Yield Conc Ins
5/1/15 $200,000 0.70% 0.50%

In association with: National Bank of Sallisaw.

L.O.: State Attorney General; and Hilborne & Weidman, Tulsa, OK.

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

Other bidders were:

UMB Bank, NIC 0.7495%

Baker Group, NIC 0.9%

TEXAS

Fort Bend County Municipal Utility District No. 143

Mar 4, 2013 . . . . . . $455,000

Unlimited Tax Park Bonds, Series 2013B (bank qualified) (book entry).

Dated Apr 1, 2013.

Due Sep 1, 2014 to 2036.

Callable Sep 1, 2019 at par.

Winning bid: SAMCO Cap Mkts, at 97.0000, NIC 3.7635%.

Due Amount Cpn Yield Conc Ins
9/1/14 $20,000 5.00% 1.20% BAM
9/1/15 $20,000 5.00% 1.35% BAM
9/1/16 $20,000 5.00% 1.45% BAM
9/1/17 $20,000 5.00% 1.60% BAM
9/1/18 $20,000 5.00% 1.80% BAM
9/1/19 $20,000 5.00% 2.00% BAM
9/1/29 $200,000 3.25% 3.35% BAM
9/1/36 $135,000 3.50% 3.70% BAM

L.O.: Allen Boone Humphries Robinson LLP, Houston, TX; and State Attorney General.

F.A.: FirstSouthwest, Houston, TX.

Other bidders were:

BOSC, NIC 3.7923%

GMS Group, NIC 3.8583%

Hutchinson Shockey, NIC 4.1528%

Fort Bend County Municipal Utility District No. 143

Mar 4, 2013 . . . . . . $645,000

Unlimited Tax Bonds, Series 2013A (bank qualified) (book entry).

Dated Apr 1, 2013.

Due Sep 1, 2014 to 2036.

Callable Sep 1, 2019 at par.

Winning bid: SAMCO Cap Mkts, at 97.0000, NIC 3.6179%.

Due Amount Cpn Yield Conc Ins
9/1/14 $30,000 4.50% 1.20% BAM
9/1/15 $30,000 4.50% 1.35% BAM
9/1/16 $30,000 4.50% 1.45% BAM
9/1/17 $30,000 4.50% 1.60% BAM
9/1/18 $30,000 4.50% 1.80% BAM
9/1/19 $30,000 4.50% 2.00% BAM
9/1/20 $30,000 3.00% 2.25% BAM
9/1/27 $210,000 3.00% 3.20% BAM
9/1/31 $100,000 3.25% 3.45% BAM
9/1/36 $125,000 3.50% 3.70% BAM

L.O.: Allen Boone Humphries Robinson LLP, Houston, TX; and State Attorney General.

F.A.: FirstSouthwest, Houston, TX.

Other bidders were:

BOSC, NIC 3.7736%

GMS Group, NIC 3.8321%

Southwest Securities, NIC 3.9305%

Hutchinson Shockey, NIC 4.1034%

WISCONSIN

Eau Claire Area School District

Mar 4, 2013 . . . . . . $2,850,000

General Obligation Promissory Notes (bank qualified) (book entry).

Dated Apr 1, 2013.

Due Apr 1, 2021 to 2023.

Callable Apr 1, 2021 at par.

Winning bid: Piper Jaffray, at 101.1539, TIC 1.8592%.

Due Amount Cpn Yield Conc Ins
4/1/21 $930,000 2.00% 1.40%
4/1/22 $950,000 2.00% 1.55%
4/1/23 $970,000 2.00% 1.70%

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

F.A.: Robert W. Baird & Co., Inc., Milwaukee, WI.

Other bidders were:

UMB Bank, TIC 1.8725%

Vining-Sparks IBG, TIC 1.9153%

Raymond James | MK, TIC 1.9157%

Janney Montgomery, TIC 1.9234%

BOSC, TIC 1.9724%

BMO Cap Mkts GKST, TIC 2.0343%

Stifel Nicolaus, TIC 2.0593%

Bernardi Securities, TIC 2.0744%

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Competitive sales results
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