Market Data
Results of competitive sales: 12/09/2025

KANSAS

Johnson County Unified School District No. 229 (Blue Valley)

Dec 8, 2025 $39,615,000

General Obligation Refunding Bonds, Series 2025-B (book entry).

Dated Dec 23, 2025.

Due Oct 1, 2026 to 2035.

Non-callable.

Winning bid: BofA Securities, at 111.9840, TIC 2.699%.

L.O.: Gilmore & Bell, P.C., Kansas City, MO.

F.A.: Stifel Nicolaus & Company, Inc, Kansas City, MO.

Other bidders were:

Wells Fargo Corp, TIC 2.717%

JPMorgan, TIC 2.7179%

KeyBanc Cap Mkts, TIC 2.7758%

Baird, TIC 2.9247%


MASSACHUSETTS

Orange Town

Dec 8, 2025 $9,567,450

General Obligation Bond Anticipation Notes (book entry).

Dated Dec 17, 2025.

Due Dec 17, 2026.

Purchased $9,567,450.00 by BNY Mellon Cap Mkts, at 4.0%, plus $128,684.11, effective rate 2.655%.

L.O.: Troutman Pepper Locke LLP (as successor to Locke Lord LLP), Boston, MA.

F.A.: UniBank Fiscal Advisory Services, Inc., Whitinsville, MA.

Other bidders were:

Janney Montgomery, Effective Rate 2.762%

Oppenheimer, Effective Rate 2.797%

TD Financial, Effective Rate 2.804%


MINNESOTA

Floodwood Independent School District No 698

Dec 8, 2025 $7,400,000

General Obligation Facilities Maintenance and Tax Abatement Bonds, Series 2025A (Minnesota School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Dec 30, 2025.

Due Feb 1, 2027 to 2046.

Callable Feb 1, 2034 at par.

Winning bid: Northland Securities, at 104.1260, TIC 3.7368%.

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

F.A.: Ehlers, Minneapolis, MN; and Ehlers, Waukesha, WI.

Other bidders were:

Raymond James, TIC 3.7488%

BOK Fin Secs, TIC 3.7827%

Baird, TIC 3.8111%

Kenyon-Wanamingo Independent School District No. 2172

Dec 8, 2025 $10,540,000

General Obligation Facilities Maintenance Bonds, Series 2026A (Minnesota School District Credit Enhancement Program) (book entry).

Dated Jan 5, 2026.

Due Feb 1, 2027 to 2040.

Callable Feb 1, 2033 at par.

Winning bid: Baird, at 102.2330, TIC 4.1236%.

Other managers: CL King & Associates, Colliers Securities LLC, Davenport & Company LLC, Northland Securities, Inc., Crews & Associates, Inc., Carty, Harding, & Hearn, Inc., Cadz Securities Inc,, A.G.P./Alliance Global Partners, Isaak Bond Investments, Inc., Celadon Financial Group, LLC, Oppenheimer & Co., Inc., Midland Securities Ltd, FMSbonds, Inc., Multi-Bank Securities Inc., First Southern LLC, Dinosaur Securities, Mountainside Securities LLC, StoneX Financial Inc., Blaylock Van, LLC, Caldwell Sutter Capital, Inc., ZIONS BANK division of ZB, N.A., Institutional Bond Network, LLC.

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

F.A.: Ehlers, Minneapolis, MN; and Ehlers, Waukesha, WI.


WISCONSIN

Stevens Point (City)

Dec 8, 2025 $4,885,000

Water System Revenue Bonds, Series 2025 (book entry).

Dated Dec 29, 2025.

Due May 1, 2028 to 2045.

Callable May 1, 2034 at par.

Winning bid: Fidelity Capital, at 104.9809, TIC 3.9659%.

Other managers: Morgan Stanley & Co., Inc., Raymond James & Associates, Inc., FHN Financial Capital Markets, Advisors Asset Management Inc, Ramirez & Co., Inc., American Veterans Group, SumRidge Partners, LLC, SAMCO Capital Markets, Zeus Financial, LLC.

L.O.: Foley & Lardner, Milwaukee, WI.

F.A.: Ehlers, Waukesha, WI; and Ehlers, Minneapolis, MN.

Other bidders were:

TD Financial, TIC 4.0228%

Baird, TIC 4.0871%

Hilltop Securities, TIC 4.1212%


TAXABLE ISSUES


WISCONSIN

Pleasant Prairie Village

Dec 8, 2025 $2,650,000

Taxable General Obligation Promissory Notes, Series 2025C (book entry).

Dated Dec 18, 2025.

Due Aug 1, 2031 to 2034.

Non-callable.

Winning bid: BOK Fin Secs, at 104.5326, TIC 4.2569%.

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

F.A.: Hilltop Securities Inc., Dallas, TX.

Other bidders were:

Piper Sandler, TIC 4.2908%

Central States Cap, TIC 4.345%

Baird, TIC 4.4135%

Northland Securities, TIC 4.4435%