ARIZONA
Estrella Mountain Ranch Community Facilities District (City of Goodyear, Arizona)
Nov 25, 2025 $10,668,000
Special Assessment Revenue Bonds, Series 2025 (Montecito Assessment District No. 4) (N) (book entry)
Dated Dec 18, 2025.
Due Jul 1, 2027 to 2049.
First coupon Jul 1, 2026.
2036-2049 Callable Jul 1, 2035 at par.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Gust Rosenfeld, Phoenix, AZ.
F.A.: Hilltop Securities Inc., Phoenix, AZ.
CALIFORNIA
California Municipal Finance Authority
Nov 26, 2025 $21,700,000
Multifamily Housing Revenue Bonds, Senior Credit Enhanced 2025 Series A (4252 Crenshaw Apartments Project) (R) (book entry)
Dated Dec 5, 2025.
Due Jun 1, 2033 to Dec 1, 2035.
First coupon Jun 1, 2026.
2035-2035 Callable Jun 1, 2035 at par.
Purchased through negotiation by Jefferies LLC, as follows:
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
Los Angeles Housing Authority
Nov 25, 2025 $78,697,000
Multifamily Housing Revenue Bonds, Series 2025A (Victory BLVD) (Mandatory Tender Date: 07/01/2029) (R) (book entry)
Dated Dec 10, 2025.
Due Jan 1, 2046.
First coupon Jul 1, 2026.
2046-2046 Callable Jul 1, 2028 at par.
Purchased through negotiation by RBC Capital Markets, as follows:
L.O.: Kutak Rock, Omaha, NE.
California Municipal Finance Authority
Nov 25, 2025 $41,803,000
Multifamily Housing Revenue Bonds, Series 2025B (Victory BLVD) (Mandatory Tender Date: 07/01/2029) (R) (book entry)
Dated Dec 10, 2025.
Due Jul 1, 2031.
First coupon Jul 1, 2026.
2031-2031 Callable Jul 1, 2028 at par.
Purchased through negotiation by RBC Capital Markets, as follows:
L.O.: Kutak Rock, Omaha, NE.
F.A.: Sierra Management Group, Reno, NV.
Bellflower Unified School District
Nov 25, 2025 $33,075,000
2025 General Obligation Refunding Bonds (G) (book entry)
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Aug 1, 2026 to 2041.
First coupon Feb 1, 2026.
2036-2041 Callable Aug 1, 2035 at par.
Purchased through negotiation by Baird, as follows:
L.O.: Dannis Woliver Kelley, Long Beach, CA.
F.A.: Dale Scott Co., San Francisco, CA.
California Municipal Finance Authority
Nov 26, 2025 $7,850,000
Multifamily Housing Revenue Bonds, Mezzanine 2025 Series B-1 (4252 Crenshaw Apartments Project) (Mandatory Tender Date: 06/01/2036) (R) (book entry) $5,715,000.
Dated Dec 5, 2025.
Due Dec 1, 2065.
First coupon Jun 1, 2026.
2065-2065 Callable Jun 1, 2035 at par.
Purchased through negotiation by Jefferies LLC, as follows:
Multifamily Housing Revenue Bonds, Mezzanine 2025 Series B-2 (4252 Crenshaw Apartments Project) (Mandatory Tender Date: 06/01/2036) (R) (book entry) $2,135,000.
Dated Dec 5, 2025.
Due Dec 1, 2065.
First coupon Jun 1, 2026.
2065-2065 Callable Jun 1, 2035 at par.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: Sierra Management Group, Reno, NV.
COLORADO
Ellston Park Metropolitan District
Nov 25, 2025 $2,530,000
Limited Tax General Obligation Bonds, Series 2025A (L) (book entry) $2,235,000.
Dated Dec 9, 2025.
Due Dec 1, 2031 to 2055.
First coupon Jun 1, 2026.
2031-2055 Callable Dec 1, 2030 at 103.000%, declining to par Dec 1, 2030.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
Subordinate Limited Tax General Obligation Bonds (L) (book entry) $295,000.
Dated Dec 9, 2025.
Due Dec 15, 2055.
First coupon Dec 15, 2026.
2055-2055 Callable Dec 1, 2030 at 103.000%, declining to par Dec 1, 2030.
L.O.: Kline Alvarado Veio, P.C., Denver, CO.
F.A.: Tierra Financial Advisors, LLC, Arlington, TX.
KANSAS
Manhattan (City)
Nov 25, 2025 $53,800,000
Health Care Facilities Revenue Bonds, Series 2025A (Meadowlark Hills) (R) (book entry) $41,050,000.
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Jun 1, 2030 to 2060.
First coupon Jun 1, 2026.
2033-2060 Callable Jun 1, 2032 at 103.000%, declining to par Jun 1, 2032.
Purchased through negotiation by Ziegler Capital Markets Group, as follows:
Health Care Facilities Revenue Bonds, Series 2025B-1 (TEMPS-85) (R) (book entry) $5,250,000.
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Jun 1, 2032.
First coupon Jun 1, 2026.
2032-2032 Callable Nov 1, 2027 at par.
Health Care Facilities Revenue Bonds, Series 2025B-2 (TEMPS-50) (Meadowlark Hills) (R) (book entry) $7,500,000.
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Jun 1, 2031.
First coupon Jun 1, 2026.
2031-2031 Callable Nov 1, 2027 at par.
L.O.: Gilmore & Bell, P.C., Kansas City, MO.
MINNESOTA
Lake Crystal Public Utility Commission
Nov 25, 2025 $3,555,000
Electric Revenue Bonds, Series 2025A (R) (bank qualified) (book entry)
Dated Dec 23, 2025. Interest accrues Dec 23, 2025.
Due Dec 1, 2027 to 2055.
First coupon Dec 1, 2026.
2034-2055 Callable Dec 1, 2033 at par.
Purchased through negotiation by Northland Securities, Inc., as follows:
L.O.: Taft, Stettinius & Hollister LLP, Minneapolis, MN.
MISSOURI
Sheldon R-VIII School District of Vernon County
Nov 20, 2025 $1,430,000
Lease Certificates of Participation, Series 2025 (Guaranteed Performance Contract) (C) (bank qualified) (book entry)
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Mar 1, 2027 to Mar 10, 2041.
First coupon Sep 1, 2026.
2033-2041 Callable Mar 1, 2031 at par.
Purchased through negotiation by L.J. Hart & Company, as follows:
L.O.: Lathrop GPM, Clayton, MO.
NEBRASKA
Kearney (City)
Nov 26, 2025 $9,705,000
Public Safety Equipment Tax Anticipation Bonds, Series 2025 (L) (bank qualified) (book entry)
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Dec 15, 2026 to 2045.
First coupon Jun 15, 2026.
2031-2045 Callable Dec 16, 2030 at par.
Purchased through negotiation by Northland Securities, Inc., as follows:
L.O.: Baird, Holm, LLP, Omaha, NE.
NEW JERSEY
Jersey City Redevelopment Agency
Nov 25, 2025 $67,565,000
Project Note, Series 2025A (Bayfront Redevelopment Project) (City Guaranteed) (R) (book entry) $58,090,000.
Dated Dec 10, 2025.
Due Dec 9, 2026.
First coupon Dec 9, 2026.
Non-callable.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: McManimon Scotland & Baumann, Roseland, NJ.
F.A.: NW Financial Group, Bloomfield, NJ.
Passaic County Improvement Authority
Nov 26, 2025 $15,775,000
County Guaranteed Lease Revenue Bonds, Series 2025 (Borough of North Haledon Project) (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due Dec 1, 2026 to 2054.
First coupon Jun 1, 2026.
2034-2054 Callable Dec 1, 2033 at par.
Purchased through negotiation by UMB Bank, N.A.., as follows:
L.O.: Waters, McPherson, McNeill, P.C., Secaucus, NJ.
F.A.: NW Financial Group, Bloomfield, NJ.
OKLAHOMA
Oklahoma Housing Finance Agency
Nov 25, 2025 $11,000,000
Collateralized Revenue Bonds, Series 2025 (Astoria Creek Project) (Mandatory Tender Date: 02/01/2028) (R) (book entry)
Dated Dec 4, 2025.
Due Jul 1, 2044.
First coupon Aug 1, 2026.
2044-2044 Callable Feb 1, 2027 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Dinsmore & Shohl LLP, Cincinnati, OH; and The Public Finance Law Group PLLC, Oklahoma City, OK.
OREGON
Oregon Housing and Community Services Department
Nov 12, 2025 $6,130,000
Housing Development Revenue Bonds, Series K-1 (Jamii Court Apartments Project) (R) (book entry)
Dated Nov 13, 2025.
Due Nov 1, 2065.
First coupon Dec 1, 2025.
2065-2065 Callable Nov 1, 2042 at par.
Privately placed by FMSbonds, Inc., as follows:
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
Oregon Housing and Community Services Department
Nov 12, 2025 $26,370,000
Housing Development Revenue Bonds, Series k-2 (Jamii Court Apartments Project) (R) (book entry)
Dated Nov 13, 2025.
Due Nov 1, 2030.
First coupon Dec 1, 2025.
2030-2030 Callable Jan 1, 2026 at par.
Privately placed by FMSbonds, Inc., as follows:
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
PENNSYLVANIA
Pennsylvania Housing Finance Agency
Nov 25, 2025 $253,940,000
Single Family Mortgage Revenue Bonds, Series 2025-151A (Social Bonds) (R) (book entry)
Dated Dec 30, 2025.
Due Apr 1, 2026 to Oct 1, 2055.
First coupon Apr 1, 2026.
2034-2055 Callable Oct 1, 2033 at par.
Purchased through negotiation by Barclays Capital, Academy Securities Inc., Bancroft Capital, LLC, BofA Securities, Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co., Inc., PNC Capital Markets, Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Capital Markets, Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Kutak Rock, Philadelphia, PA; and Turner Law, P.C.,, Philadelphia, PA.
RHODE ISLAND
Rhode Island Health and Educational Building Corporation
Nov 18, 2025 $9,895,000
Public Schools Revenue Bond Financing Program Revenue Bonds, Series 2025 G (Pooled Issue) (R) (book entry)
Dated Dec 4, 2025.
Due May 15, 2027 to 2041.
First coupon Nov 15, 2026.
2036-2041 Callable May 15, 2035 at par.
Purchased through negotiation by Roosevelt & Cross, Inc., as follows:
L.O.: Partridge, Snow & Hahn, Providence, RI.
F.A.: PFM Financial Advisors LLC, Boston, MA.
SOUTH CAROLINA
South Carolina Jobs-Economic Development Authority
Nov 25, 2025 $47,900,000
Economic Development Revenue Bonds, Series 2025 (Bishop Gadsden Episcopal Retirement Community) (R) (book entry)
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Apr 1, 2029 to 2056.
First coupon Apr 1, 2026.
2034-2056 Callable Apr 1, 2033 at 103.000%, declining to par Apr 1, 2033.
Purchased through negotiation by Ziegler Capital Markets Group, as follows:
L.O.: Haynsworth Sinkler Boyd, P.A., Charleston, SC.
TAXABLE ISSUES
NEW JERSEY
Jersey City Redevelopment Agency
Nov 25, 2025 $67,565,000
Project Note, Series 2025B (Bayfront Redevelopment Project) (City Guaranteed) (R) (book entry) (Taxable) $9,475,000.
Dated Dec 10, 2025.
Due Dec 9, 2026.
First coupon Dec 9, 2026.
Non-callable.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: McManimon Scotland & Baumann, Roseland, NJ.
F.A.: NW Financial Group, Bloomfield, NJ.
PENNSYLVANIA
Pennsylvania Housing Finance Agency
Nov 25, 2025 $21,340,000
Single Family Mortgage Revenue Bonds, Series 2025-151B (R) (book entry) (Taxable)
Dated Dec 30, 2025.
Due Apr 1, 2026 to Oct 1, 2054.
First coupon Apr 1, 2026.
2034-2054 Callable Oct 1, 2033 at par.
Purchased through negotiation by Barclays Capital, Academy Securities Inc., Bancroft Capital, LLC, BofA Securities, Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co., Inc., PNC Capital Markets, Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Capital Markets, Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Kutak Rock, Philadelphia, PA; and Turner Law, P.C.,, Philadelphia, PA.