Market Data
Results of competitive sales: 02/17/2026

IOWA

Davis County Community School District

Feb 12, 2026 $13,310,000

School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2026 (book entry).

Dated Apr 1, 2026.

Due Jun 1, 2029 to 2050.

Callable Jun 1, 2033 at par.

Winning bid: FHN Fin Cap Mkts, at 101.0706, TIC 4.1393%.

Other managers: Morgan Stanley & Co., Inc., Raymond James & Associates, Inc., Fidelity Capital Markets, Ramirez & Co., Inc., Advisors Asset Management Inc, Zeus Financial, LLC.

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

F.A.: Piper Sandler & Co, Des Moines, IA.

Other bidders were:

Baird, TIC 4.1439%

Hilltop Securities, TIC 4.1853%



MICHIGAN

Chesaning Village

Feb 12, 2026 $950,000

2026 Unlimited Tax General Obligation Bonds (bank qualified) (book entry).

Dated Mar 5, 2026.

Due May 1, 2027 to 2036.

Non-callable.

Winning bid: Huntington Secs, at n/a, TIC 4.2585%.

L.O.: Miller, Canfield, Paddock & Stone, P.L.C., Detroit, MI.

F.A.: PFM Financial Advisors LLC, Ann Arbor, MI.

Other bidders were:

ChoiceOne Bank, TIC 4.5843%

Highpoint Comm Bk, TIC 4.6581%


South Haven (City)

Feb 12, 2026 $2,945,000

Downtown Development And Refunding Bonds, Series 2026 (General Obligation Limited Tax) (bank qualified).

Dated Mar 5, 2026.

Due Apr 1, 2027 to 2040.

Callable Apr 1, 2036 at par.

Winning bid: Brownstone Inv Grp, at 110.3980, TIC 2.9423%.

L.O.: Dickinson Wright PLLC, Grand Rapids, MI.

F.A.: MFCI, LLC, Milford, MI.

Other bidders were:

Baird, TIC 3.0145%

Huntington Secs, TIC 3.0631%

BOK Fin Secs, TIC 3.0699%

Raymond James, TIC 3.0783%

Bernardi Securities, TIC 3.0859%

Stifel Nicolaus, TIC 3.1586%



NEW JERSEY

Union City (City)

Feb 12, 2026 $4,952,000

General Obligation Bonds, Series 2026 (Qualified Pursuant to the Provisions of the Municipal Qualified Bond Act, P.L. 1976, c.38, as amended) (book entry).

Dated Mar 2, 2026.

Due Mar 1, 2027 to 2040.

Callable Mar 1, 2033 at par.

Winning bid: SWBC Investment Svcs, at 104.4922, TIC 3.3493%.

L.O.: Parker, McCay, P.A., Mount Laurel, NJ.

F.A.: NW Financial Group, Bloomfield, NJ.

Other bidders were:

Loop Capital, TIC 3.3551%

Roosevelt & Cross, TIC 3.36%

Baird, TIC 3.3647%



TEXAS

Harris-Waller Counties Municipal Utility District No. 7

Feb 12, 2026 $2,400,000

Unlimited Tax Road Bonds, Series 2026 (bank qualified) (book entry).

Dated Mar 1, 2026.

Due Sep 1, 2027 to 2050.

Callable Sep 1, 2030 at par.

Winning bid: GMS Group, at 97.0000, NIC 4.8499%.

L.O.: The Muller Law Group, Sugar Land, TX; and State Attorney General.

F.A.: Baird, Houston, TX.

Other bidders were:

Hilltop Securities, NIC 4.8614%

RBC Capital Mkts, NIC 4.9122%

Crews & Associates, NIC 5.0828%



VIRGINIA

Virginia Beach (City)

Feb 12, 2026 $76,630,000

General Obligation Public Improvement Refunding Bonds, Series 2026B (book entry).

Dated Mar 5, 2026.

Due Aug 1, 2026 to 2035.

Non-callable.

Winning bid: BofA Securities, at 109.7083, TIC 2.298%.

L.O.: Kutak Rock, Richmond, VA.

F.A.: Davenport & Company LLC, Richmond, VA.

Other bidders were:

JPMorgan, TIC 2.3031%

Truist Secs, Inc., TIC 2.3258%

Jefferies, TIC 2.351%

UBS Financial Svcs, TIC 2.3545%

KeyBanc Cap Mkts, TIC 2.3554%

Wells Fargo Corp, TIC 2.3752%

Mesirow Financial, TIC 2.378%

Baird, TIC 2.384%

Morgan Stanley, TIC 2.398%

Huntington Secs, TIC 2.3999%