ARKANSAS
Conway (City)
Dec 4, 2025 $45,225,000
Electric Revenue Improvement Bonds Series 2025 (R) (book entry)
Dated Dec 30, 2025.
Due Dec 1, 2026 to 2055.
First coupon Jun 1, 2026.
2033-2055 Callable Dec 1, 2032 at par.
Purchased through negotiation by Crews & Associates, Inc., Stephens Inc., as follows:
L.O.: Kutak Rock, Little Rock, AR.
CALIFORNIA
Lammersville Joint Unified District
Dec 4, 2025 $32,570,000
Special Tax Bonds, Series 2025 (Community Facilities District No. 2019-1 (Mountain House School Facilities) (R) (book entry)
Dated Dec 18, 2025.
Due Sep 1, 2027 to 2055.
First coupon Mar 1, 2026.
2033-2055 Callable Sep 1, 2032 at 103.000%, declining to par Sep 1, 2032.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Jones Hall LLP, San Mateo, CA.
F.A.: California Financial Services, Ladera Ranch, CA.
Oakland (City)
Dec 4, 2025 $143,535,000
General Obligation Bonds, Series 2025B-1 (Measure U) (G) (book entry) $94,260,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 15, 2027 to 2055.
First coupon Jan 15, 2026.
2049-2055 Callable Jul 15, 2035 at par.
Purchased through negotiation by Siebert Williams Shank & Co., L.L.C, BofA Securities, Loop Capital Markets, LLC, as follows:
General Obligation Refunding Bonds, Series 2025 (G) (book entry) $49,275,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 15, 2026 to 2039.
First coupon Jan 15, 2026.
2036-2039 Callable Jul 15, 2035 at par.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: PFM Financial Advisors LLC, San Francisco, CA.
Perris Community Facilities District No. 2022-3 (Stratford Ranch) Improvement Area No. 1
Dec 4, 2025 $6,515,000
Special Tax Bonds, 2025 Series (Improvement Area No. 1) (R) (bank qualified) (book entry)
Dated Dec 18, 2025.
Due Sep 1, 2026 to 2056.
First coupon Mar 1, 2026.
2033-2056 Callable Sep 1, 2032 at 103.000%, declining to par Sep 1, 2032.
Purchased through negotiation by Oppenheimer & Co., Inc., as follows:
L.O.: Aleshire & Wynder, LLP, Irvine, CA.
F.A.: Fieldman, Rolapp & Associates, Irvine, CA.
California Municipal Finance Authority
Dec 5, 2025 $22,570,000
Special Tax Revenue Bonds BOLD Program, Series 2025D (R) (book entry)
Dated Dec 23, 2025.
Due Sep 1, 2027 to 2055.
First coupon Mar 1, 2026.
2033-2055 Callable Sep 1, 2032 at 103.000%, declining to par Sep 1, 2032.
Purchased through negotiation by Piper Sandler & Co, as follows:
L.O.: Jones Hall LLP, San Mateo, CA.
COLORADO
CSU Strata
Dec 5, 2025 $138,415,000
Student Housing Revenue Bonds, Series 2025A (The Prospect Project) (R) (book entry)
Dated Dec 18, 2025.
Due Mar 1, 2029 to 2065.
First coupon Mar 1, 2026.
2037-2065 Callable Mar 1, 2036 at par.
Purchased through negotiation by Morgan Stanley & Co., Inc., Huntington Securities, Inc., as follows:
L.O.: Kutak Rock, Denver, CO.
F.A.: North Slope Capital Advisors, Denver, CO.
Twin Buttes Metropolitan Distirct No. 2
Dec 5, 2025 $10,000,000
Limited Tax General Obligation Refunding Bonds, Series 2025 (L) (book entry)
Dated Dec 10, 2025.
Due Dec 1, 2028 to 2055.
First coupon Jun 1, 2026.
2033-2055 Callable Dec 1, 2032 at 101.000%, declining to par Dec 1, 2032.
Purchased through negotiation by Piper Sandler & Co, as follows:
L.O.: Kline Alvarado Veio, P.C., Denver, CO.
CONNECTICUT
Connecticut Health and Educational Facilities Authority
Dec 4, 2025 $35,630,000
Revenue Bonds, Area Cooperative Educational Services Issue Series C (R) (book entry) $28,065,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 1, 2026 to 2045.
First coupon Jul 1, 2026.
2036-2045 Callable Jul 1, 2035 at par.
Purchased through negotiation by KeyBanc Capital Markets, as follows:
L.O.: Pullman & Comley, Hartford, CT.
FLORIDA
Zephyrhills (City of)
Dec 4, 2025 $31,630,000
Capital Improvement Revenue Bonds, Series 2025 (R) (book entry)
Dated Dec 18, 2025.
Due Sep 1, 2026 to 2055.
First coupon Mar 1, 2026.
2035-2055 Callable Sep 1, 2034 at par.
Purchased through negotiation by RBC Capital Markets, as follows:
L.O.: Bryant, Miller & Olive, Tampa, FL.
F.A.: Larson Consulting Services, LLC, Orlando, FL.
ILLINOIS
Dunlap Community Unit School District No. 323
Dec 3, 2025 $57,125,000
General Obligation School Bonds, Series 2025A (G) (book entry) $47,960,000.
Dated Dec 17, 2025.
Due Apr 1, 2026 to 2042.
First coupon Apr 1, 2026.
2036-2042 Callable Apr 1, 2035 at par.
Purchased through negotiation by Bernardi Securities, Inc., as follows:
L.O.: Chapman and Cutler LLP, Chicago, IL.
Moline School District No. 40 (Rock Island County)
Dec 4, 2025 $47,400,000
General Obligation School Bonds, Series 2025 (G) (book entry)
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Dec 1, 2027 to 2034.
First coupon Dec 1, 2026.
2034-2034 Callable Dec 1, 2033 at par.
Purchased through negotiation by D.A. Davidson & Co., Raymond James & Associates, Inc., as follows:
L.O.: Croke Fairchild Duarte & Beres LLC, Chicago, IL.
F.A.: Kings Financial Consulting, Inc., Monticello, IL.
Harvard (City)
Dec 4, 2025 $3,870,000
General Obligation Bonds, Series 2025 (Alternate Revenue Source) (L) (bank qualified) (book entry)
Dated Dec 18, 2025.
Due Jan 1, 2027 to 2041.
First coupon Jul 1, 2026.
2036-2041 Callable Jan 1, 2035 at par.
Purchased through negotiation by Bernardi Securities, Inc., as follows:
L.O.: Miller, Canfield, Paddock & Stone, P.L.C., Chicago, IL.
INDIANA
St John Redevelopment Authority
Dec 4, 2025 $19,470,000
Lease Rental Revenue Bonds, Series 2025A (R) (bank qualified) (book entry) $2,810,000.
Dated Dec 18, 2025.
Due Jan 15, 2032 to Jul 15, 2036.
First coupon Jul 15, 2026.
2036-2036 Callable Jul 15, 2035 at par.
Purchased through negotiation by Mesirow Financial, Inc., as follows:
L.O.: Barnes & Thornburg LLP, Indianapolis, IN.
F.A.: Baker Tilly Municipal Advisors, LLC, Indianapolis, IN.
Clarksville (Town)
Dec 4, 2025 $18,910,000
Sewage Works Revenue Bonds, of 2025 (R) (book entry)
Dated Dec 18, 2025.
Due Jul 1, 2035 to 2046.
First coupon Jul 1, 2026.
2036-2046 Callable Jul 1, 2035 at par.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Frost Brown Todd LLC, Indianapolis, IN.
F.A.: Baker Tilly Municipal Advisors, LLC, Indianapolis, IN.
Jackson County
Dec 4, 2025 $4,550,000
General Obligation Bonds, Series 2025 (O) (bank qualified) (book entry)
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Jul 1, 2026 to Jan 1, 2032.
First coupon Jul 1, 2026.
Non-callable.
Purchased through negotiation by Baird, as follows:
L.O.: Barnes & Thornburg LLP, Indianapolis, IN.
F.A.: Reedy Financial Group PC, Indianapolis, IN.
Johnson County
Dec 4, 2025 $5,500,000
General Obligation Bonds, Series 2025 (O) (book entry)
Dated Dec 18, 2025.
Due Jun 30, 2026 to Dec 31, 2027.
First coupon Jun 30, 2026.
Non-callable.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Barnes & Thornburg LLP, Indianapolis, IN.
F.A.: Peters Franklin, LTD, Greenwood, IN.
KANSAS
Wichita (City)
Dec 4, 2025 $35,000,000
Multifamily Housing Revenue Bonds Market Centre Apartments Series IV, 2025 (Mandatory Tender Date: 02/01/2029) (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due Feb 1, 2030.
First coupon Aug 1, 2026.
2030-2030 Callable Jun 1, 2028 at par.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Gilmore & Bell, P.C., Kansas City, MO.
LOUISIANA
Louisiana Housing Corporation
Dec 4, 2025 $92,000,000
Multifamily Housing Revenue Bonds, Series 2025 (NSA East Bank Apartments Project) (Mandatory Tender Date: 04/01/2029) (R) (book entry)
Dated Dec 10, 2025. Interest accrues Dec 10, 2025.
Due Apr 1, 2030.
First coupon Apr 1, 2026.
2030-2030 Callable Apr 1, 2028 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Butler Snow, LLP, Baton Rouge, LA.
NORTH CAROLINA
Robeson County
Dec 4, 2025 $13,800,000
Limited Obligation Bonds, Series 2025 (R) (book entry)
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jun 1, 2027 to 2040.
First coupon Jun 1, 2026.
2036-2040 Callable Jun 1, 2035 at par.
Purchased through negotiation by PNC Capital Markets, as follows:
L.O.: Womble Bond Dickinson LLP, Raleigh, NC.
F.A.: First Tryon Advisors, Charlotte, NC.
NEBRASKA
Sarpy County Sanitaion and Improvement District No. 351
Dec 8, 2025 $1,400,000
General Obligation Bonds, Series 2026 (G) (bank qualified) (book entry)
Dated Jan 15, 2026. Interest accrues Jan 15, 2026.
Due Oct 15, 2030 to 2046.
First coupon Apr 15, 2026.
2031-2046 Callable Jan 15, 2031 at par.
Purchased through negotiation by Northland Securities, Inc., as follows:
Sarpy County Sanitary and Improvement District No. 375
Dec 8, 2025 $920,000
General Obligation Bonds, Series 2026 (G) (bank qualified) (book entry)
Dated Jan 15, 2026. Interest accrues Jan 15, 2026.
Due Oct 15, 2030 to 2046.
First coupon Apr 15, 2026.
2031-2046 Callable Jan 15, 2031 at par.
Purchased through negotiation by Northland Securities, Inc., as follows:
NEW JERSEY
Camden County Improvement Authority
Dec 4, 2025 $6,290,000
Borough Guaranteed Lease Revenue Bonds (Brooklawn Board of Education Project), Series 2025 (R) (book entry)
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Aug 1, 2027 to 2045.
First coupon Aug 1, 2026.
2036-2045 Callable Aug 1, 2035 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Parker, McCay, P.A., Mount Laurel, NJ.
F.A.: Acacia Financial Group, Inc., Montclair, NJ.
NEW YORK
New York State Dormitory Authority
Dec 5, 2025 $23,125,000
United Cerebral Palsy Associations of New York State, Inc. (D/B/A Constructive Partnerships Unlimited) Revenue Bonds, Series 2025A (R) (book entry) $17,775,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 1, 2026 to 2050.
First coupon Jul 1, 2026.
2036-2050 Callable Jul 1, 2035 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Barclay Damon LLP, New York, NY; and Law Offices of Joseph C. Reid, PA, New York, NY.
F.A.: Excelsior Capital Advisory Services LLC, Slingerlands, NY; and Blue Rose Capital Advisors, Chicago, IL.
Utility Debt Securitization Authority
Dec 5, 2025 $1,089,865,000
Restructuring Bonds, Series 2025TE-1 (Green Bonds) (R) (book entry) $115,135,000.
Dated Dec 15, 2025.
Due Dec 15, 2042 to 2047.
First coupon Jun 15, 2026.
2042-2047 Callable Dec 15, 2035 at par.
Purchased through negotiation by BofA Securities, Goldman, Sachs & Co., Loop Capital Markets, LLC, Academy Securities Inc., American Veterans Group, Barclays Capital, Cabrera Capital Markets Inc., J.P. Morgan Securities LLC, Jefferies LLC, Morgan Stanley & Co., Inc., Ramirez & Co., Inc., Raymond James & Associates, Inc., RBC Capital Markets, Siebert Williams Shank & Co., L.L.C, TD Financial Products LLC, Wells Fargo Corporate & Investment Banking, as follows:
Restructuring Bonds, Series 2025TE-2 (R) (book entry) $974,730,000.
Dated Dec 15, 2025.
Due Jun 15, 2028 to Dec 15, 2041.
First coupon Jun 15, 2026.
2036-2041 Callable Dec 15, 2035 at par.
L.O.: Nixon Peabody LLP, New York, NY.
F.A.: PFM Financial Advisors LLC, New York, NY.
OHIO
Ohio Housing Finance Agency
Dec 4, 2025 $28,295,000
Multifamily Housing Revenue Bonds, Series 2025A (Silver Birch of Mason Project) (R) (book entry) $27,070,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jan 1, 2036 to 2046.
First coupon Jul 1, 2026.
2036-2046 Callable Jan 1, 2031 at 105.000%, declining to par Jan 1, 2031.
Purchased through negotiation by D.A. Davidson & Co., as follows:
L.O.: Ice Miller, Columbus, OH.
OKLAHOMA
Oklahoma Water Resources Board
Dec 4, 2025 $262,725,000
State Loan Program Revenue Bonds, Series 2025C
(R) (book entry)
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Oct 1, 2026 to 2055.
First coupon Apr 1, 2026.
2033-2055 Callable Oct 1, 2032 at par.
Purchased through negotiation by BOK Financial Securities, Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Centennial Law Group, Duncan, OK; and State Attorney General.
OREGON
Oregon Housing and Community Services Department
Dec 5, 2025 $31,500,000
Housing Development Revenue Bonds (Gresham Civic Station Apartments Project), Series 2025 Q (Mandatory Tender Date: 07/01/2028) (R) (book entry)
Dated Dec 11, 2025.
Due Jul 1, 2044.
First coupon Jul 1, 2026.
2044-2044 Callable Jan 1, 2028 at par.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Orrick, Herrington & Sutcliffe, Portland, OR.
F.A.: Caine, Mitter & Associates, New York, NY.
PENNSYLVANIA
Ephrata Area School District
Dec 4, 2025 $9,355,000
General Obligation Notes, Series of 2025
(L) (bank qualified) (book entry)
Dated Dec 18, 2025.
Due Mar 1, 2026 to 2035.
First coupon Mar 1, 2026.
2031-2035 Callable Sep 1, 2030 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Saxton & Stump, LLC, Lancaster, PA.
Pennsylvania Housing Finance Agency
Dec 5, 2025 $42,000,000
Multifamily Housing Development Bonds, Series 2025 Special Limited Obligation (Fairhill Phase I) (Mandatory Tender Date: 07/01/2029) (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due Jan 1, 2046.
First coupon Jul 1, 2026.
2046-2046 Callable Jul 1, 2028 at par.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Greenberg Traurig, LLP, Philadelphia, PA; and Love and Long, LLP, Philadelphia, PA.
Pennsylvania Housing Finance Agency
Dec 5, 2025 $45,000,000
Special Limited Obligation Multifamily Housing Development Bonds, Series 2025 (Fairhill Phase II) (Mandatory Tender Date: 07/01/2029) (Conversion Date: 7/1/2028) (R) (book entry)
Dated Dec 11, 2025.
Due Jan 1, 2046.
First coupon Jul 1, 2026.
2046-2046 Callable Jul 1, 2028 at par.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Greenberg Traurig, LLP, Philadelphia, PA; and Love and Long, LLP, Philadelphia, PA.
Philadelphia Authority for Industrial Development
Dec 5, 2025 $58,570,000
Healthcare Facility Revenue Bonds, Series 2025A (Greater Philadelphia Health Action, Incorporated Project) (R) (book entry) $49,605,000.
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Jun 1, 2033 to 2055.
First coupon Jun 1, 2026.
2036-2055 Callable Jun 1, 2035 at par.
Purchased through negotiation by Piper Sandler & Co, as follows:
L.O.: Saul Ewing LLP, Philadelphia, PA.
F.A.: National Capital Resources, Philadelphia, PA.
Delaware Valley Regional Finance Authority
Dec 4, 2025 $60,000,000
Local Government Revenue Bonds 2025 Series A (Fixed Rate Bonds) (R) (book entry)
Dated Dec 17, 2025.
Due Dec 1, 2036 to 2038.
First coupon Jun 1, 2026.
Non-callable.
Purchased through negotiation by BofA Securities, as follows:
L.O.: Eckert, Seamans, Cherin & Mellott, Philadelphia, PA.
SOUTH CAROLINA
Charleston Educational Excellence Financing Corporation
Dec 4, 2025 $38,070,000
Installment Purchase Revenue Refunding Bonds (Charleston County School District, South Carolina Project) Series 2025 (R) (book entry)
Dated Dec 17, 2025.
Due Dec 1, 2027 to 2030.
First coupon Jun 1, 2026.
Non-callable.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
L.O.: Haynsworth Sinkler Boyd, P.A., Charleston, SC.
F.A.: PFM Financial Advisors LLC, Orlando, FL.
Clemson Public Facilities Corporation
Dec 4, 2025 $15,000,000
Clemson Public Facilities Corporation Installment Purchase Revenue Bonds (City Improvement Projects) Series 2025 (R) (book entry)
Dated Dec 17, 2025.
Due Dec 1, 2026 to 2055.
First coupon Jun 1, 2026.
2036-2055 Callable Dec 1, 2035 at par.
Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:
L.O.: King Kozlarek Law LLC, Greenville, SC.
F.A.: First Tryon Advisors, Charlotte, NC.
South Carolina Jobs-Economic Development Authority
Dec 4, 2025 $133,245,000
Residential Development Revenue Bonds, Series 2025 (Sixteenth Floor Obligated Group Projects Credit Enhanced) (R) (book entry)
Dated Dec 10, 2025. Interest accrues Dec 10, 2025.
Due Dec 1, 2035.
First coupon Jun 1, 2026.
2035-2035 Callable Dec 1, 2032 at par.
Purchased through negotiation by KeyBanc Capital Markets, as follows:
L.O.: Cantu Harden Montoya LLP, San Antonio, TX; and Haynsworth Sinkler Boyd, P.A., Charleston, SC.
F.A.: CSG Advisors Inc., San Francisco, CA.
SOUTH DAKOTA
Sioux Falls Regional Airport Authority
Dec 5, 2025 $20,000,000
Airport Revenue Bonds, Series 2025 (R) (book entry) (AMT)
Dated Dec 17, 2025. Interest accrues Dec 17, 2025.
Due Dec 1, 2026 to 2045.
First coupon Jun 1, 2026.
2035-2045 Callable Dec 1, 2034 at par.
Purchased through negotiation by D.A. Davidson & Co., as follows:
L.O.: Dorsey & Whitney, Denver, CO.
F.A.: Colliers Securities LLC, Sioux Falls, SD.
TENNESSEE
Knoxville Community Development Corporation
Dec 4, 2025 $45,000,000
Multifamily Housing Revenue Bonds, Series 2025
(The Peter Apartments) (Mandatory Tender Date: 05/01/2029) (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due May 1, 2046.
First coupon May 1, 2026.
2046-2046 Callable May 1, 2028 at par.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:
L.O.: Baker, Donelson, Bearman, Caldwell & Berkowitz, P.C., Nashville, TN.
TEXAS
Princeton Independent School District
Dec 4, 2025 $39,390,000
Refunding Bonds, Series 2025 (Permanent School Fund Guarantee Program) (G) (book entry)
Dated Dec 15, 2025. Interest accrues Dec 19, 2025.
Due Feb 15, 2026 to 2044.
First coupon Feb 15, 2026.
2036-2044 Callable Feb 15, 2035 at par.
Purchased through negotiation by RBC Capital Markets, SAMCO Capital Markets, as follows:
L.O.: McCall Parkhurst & Horton, Dallas, TX; and State Attorney General.
F.A.: Hilltop Securities Inc., Dallas, TX.
San Antonio (City)
Dec 4, 2025 $603,005,000
Electric and Gas Systems Revenue Refunding Bonds, New Series 2026A (R) (book entry)
Dated Jan 1, 2026. Interest accrues Jan 13, 2026.
Due Feb 1, 2033 to 2041.
First coupon Aug 1, 2026.
2037-2041 Callable Feb 1, 2036 at par.
Purchased through negotiation by Jefferies LLC, Siebert Williams Shank & Co., L.L.C, Academy Securities Inc., Goldman, Sachs & Co., Wells Fargo Corporate & Investment Banking, as follows:
L.O.: McCall Parkhurst & Horton, San Antonio, TX; Cantu Harden LLP, San Antonio, TX; Kassahn & Ortiz, P.C., San Antonio, TX; and State Attorney General.
F.A.: PFM Financial Advisors LLC, Austin, TX; and Estrada Hinojosa & Company, Inc., Dallas, TX.
FW Ramble Public Facility Corporation
Dec 4, 2025 $66,000,000
Residential Development Revenue Bonds, Series 2025 (Ramble and Rose Project) (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due Apr 1, 2027 to Oct 1, 2035.
First coupon Apr 1, 2026.
2033-2035 Callable Oct 1, 2032 at par.
Purchased through negotiation by KeyBanc Capital Markets, as follows:
L.O.: Coats Rose, P.C, Houston, TX; and State Attorney General.
F.A.: CSG Advisors Inc., San Francisco, CA.
Eagle Mountain-Saginaw Independent School District
Dec 4, 2025 $112,275,000
Refunding Bonds, Series 2025 A (Permanent School Fund Guarantee Program) (G) (book entry)
Dated Nov 15, 2025. Interest accrues Dec 18, 2025.
Due Aug 15, 2026 to 2037.
First coupon Feb 15, 2026.
2036-2037 Callable Aug 15, 2035 at par.
Purchased through negotiation by Mesirow Financial, Inc., FHN Financial Capital Markets, Hilltop Securities Inc., Piper Sandler & Co, Raymond James & Associates, Inc., as follows:
L.O.: Norton Rose Fulbright US LLP, Dallas, TX; and State Attorney General.
F.A.: BOK Financial Securities, Plano, TX.
Azle Independent School District
Dec 4, 2025 $42,945,000
Refunding Bonds, Series 2025 (Permanent School Fund Guarantee Program) (G) (book entry)
Dated Dec 1, 2025. Interest accrues Dec 18, 2025.
Due Feb 15, 2026 to 2042.
First coupon Feb 15, 2026.
2036-2042 Callable Feb 15, 2035 at par.
Purchased through negotiation by Mesirow Financial, Inc., FHN Financial Capital Markets, Frost Bank, as follows:
L.O.: McCall Parkhurst & Horton, Dallas, TX; and State Attorney General.
F.A.: BOK Financial Securities, Plano, TX.
Fort Worth Independent School District
Dec 4, 2025 $129,925,000
Refunding Bonds Series 2025A (Permanent School Fund Guarantee Program) (G) (book entry)
Dated Dec 30, 2025.
Due Feb 15, 2026 to 2041.
First coupon Feb 15, 2026.
Non-callable.
Purchased through negotiation by BofA Securities, Piper Sandler & Co, PNC Capital Markets, as follows:
L.O.: Norton Rose Fulbright US LLP, Dallas, TX; Kelly Hart & Hallman, Fort Worth, TX; and State Attorney General.
F.A.: Hilltop Securities Inc., El Paso, TX; and Hilltop Securities Inc., Fort Worth, TX.
Brooks Development Authority
Dec 4, 2025 $38,815,000
Special Facilities Hotel Revenue Refunding Bonds, Series 2025 (R) (book entry)
Dated Dec 18, 2025.
Due Aug 15, 2028 to 2052.
First coupon Feb 15, 2026.
2036-2052 Callable Aug 15, 2035 at par.
Purchased through negotiation by J.P. Morgan Securities LLC, as follows:
L.O.: McCall Parkhurst & Horton, Austin, TX; and State Attorney General.
F.A.: Hilltop Securities Inc., Austin, TX.
Brooks Development Authority
Dec 4, 2025 $42,515,000
Senior Lien Revenue Refunding Bonds, Series 2025A (R) (book entry) $16,845,000.
Dated Dec 18, 2025.
Due Aug 15, 2047 to 2052.
First coupon Feb 15, 2026.
2047-2052 Callable Aug 15, 2035 at par.
Purchased through negotiation by J.P. Morgan Securities LLC, as follows:
Senior Lien Term Rate Revenue Refunding Bonds, Series 2025B (Mandatory Tender Date: 08/15/2032) (R) (book entry) $12,920,000.
Dated Dec 18, 2025.
Due Aug 15, 2042 to 2047.
First coupon Feb 15, 2026.
2042-2047 Callable Feb 15, 2032 at par.
Senior Lien Term Rate Revenue Refunding Bonds, Series 2025C (Mandatory Tender Date: 08/15/2028) (R) (book entry) $12,750,000.
Dated Dec 18, 2025.
Due Aug 15, 2033 to 2042.
First coupon Feb 15, 2026.
2033-2042 Callable May 15, 2028 at par.
L.O.: McCall Parkhurst & Horton, Austin, TX; and State Attorney General.
F.A.: Hilltop Securities Inc., Austin, TX.
UTAH
South Salt Lake City Redevelopment Agency
Dec 4, 2025 $25,105,000
Tax Increment Revenue Bonds, Series 2025 (R) (book entry)
Dated Dec 11, 2025. Interest accrues Dec 11, 2025.
Due Apr 15, 2029 to 2046.
First coupon Apr 15, 2026.
2031-2046 Callable Apr 15, 2030 at 103.000%, declining to par Apr 15, 2030.
Purchased through negotiation by D.A. Davidson & Co., as follows:
L.O.: Gilmore & Bell, Salt Lake City, UT.
F.A.: EFG-Consulting, Tooele, UT.
South Davis Sewer District
Dec 4, 2025 $35,000,000
Combined Utility System Revenue Bonds, Series 2025 (R) (book entry)
Dated Dec 18, 2025.
Due Dec 1, 2028 to 2055.
First coupon Jun 1, 2026.
2036-2055 Callable Dec 1, 2035 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Chapman and Cutler LLP, Salt Lake City, UT.
F.A.: Stifel, Nicolaus & Co., Inc., Salt Lake City, UT.
NWQ Public Infrastructure District
Dec 5, 2025 $18,103,000
Limited Tax General Obligation Bonds, Series 2025A (L) (book entry) $15,445,000.
Dated Dec 10, 2025. Interest accrues Dec 10, 2025.
Due Mar 1, 2029 to 2056.
First coupon Mar 1, 2026.
2031-2056 Callable Dec 1, 2030 at 103.000%, declining to par Dec 1, 2030.
Purchased through negotiation by Piper Sandler & Co, as follows:
Subordinate Limited Tax General Obligation Bonds, Series 2025B (L) (book entry) $2,658,000.
Dated Dec 10, 2025. Interest accrues Dec 10, 2025.
Due Mar 15, 2056.
First coupon Mar 15, 2026.
2056-2056 Callable Dec 1, 2030 at 103.000%, declining to par Dec 1, 2030.
L.O.: Gilmore & Bell, Salt Lake City, UT.
F.A.: Crews & Associates, Inc., Little Rock, AR.
VERMONT
Vermont
Dec 4, 2025 $59,780,000
General Obligation Bonds 2025 Series A (Vermont Citizen Bonds) (G) (book entry)
Dated Dec 17, 2025.
Due Aug 15, 2026 to 2045.
First coupon Feb 15, 2026.
2036-2045 Callable Aug 15, 2035 at par.
Purchased through negotiation by Morgan Stanley & Co., Inc., Raymond James & Associates, Inc., as follows:
L.O.: Troutman Pepper Locke LLP, Providence, RI.
F.A.: Public Resources Advisory Group, New York, NY.
WASHINGTON
Washington Economic Development Finance Authority
Dec 4, 2025 $40,130,000
Port Revenue Bonds, Series 2025 (Husky Terminal Improvement Project) (Mandatory Put Date: 12/01/2030) (R) (book entry) (AMT)
Dated Dec 11, 2025.
Due Dec 1, 2045.
First coupon Jun 1, 2026.
2045-2045 Callable Jun 1, 2030 at par.
Purchased through negotiation by J.P. Morgan Securities LLC, as follows:
L.O.: Orrick, Herrington & Sutcliffe, Seattle, WA.
Spokane County
Dec 4, 2025 $47,725,000
Limited Tax General Obligation and Refunding Bonds, Series 2025 (L) (book entry)
Dated Dec 18, 2025.
Due Dec 1, 2026 to 2045.
First coupon Jun 1, 2026.
2036-2045 Callable Dec 1, 2035 at par.
Purchased through negotiation by Barclays Capital, as follows:
L.O.: Pacifica Law Group, Seattle, WA.
F.A.: Northwest Municipal Advisors, Bellevue, WA.
WISCONSIN
Public Finance Authority
Dec 5, 2025 $114,250,000
Student Housing Revenue Bonds, Series 2025A (PRG - Oxford Properties LLC Project) (R) (book entry) $111,625,000.
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Jul 1, 2032 to 2065.
First coupon Jul 1, 2026.
2035-2065 Callable Jul 1, 2034 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Butler Snow, LLP, Denver, CO.
Public Finance Authority
Dec 5, 2025 $44,642,991
Senior Current Interest Tax Capture Revenue Bonds, Series 2025A-1 (Shaw Walker Project, Cty of Muskegon, Michigan) (R) (book entry) $30,625,000.
Dated Dec 18, 2025. Interest accrues Dec 17, 2025.
Due Dec 1, 2028 to 2055.
First coupon Jun 1, 2026.
2034-2055 Callable Dec 1, 2033 at 102.000%, declining to par Dec 1, 2033.
Purchased through negotiation by Piper Sandler & Co, Huntington Securities, Inc., as follows:
Senior Convertible Capital Appreciation Tax Capture Revenue Bonds, Series 2025A-2 (Shaw Walker Project, Cty of Muskegon, Michigan) (Conversion Date: 12/01/2034) (R) (book entry) $14,017,991.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Dec 1, 2055.
2055-2055 Callable Dec 1, 2033 at 102.000%, declining to par Dec 1, 2033.
L.O.: Frost Brown Todd LLC, Louisville, KY.
TAXABLE ISSUES
CALIFORNIA
San Francisco City and County Redevelopment Agency Successor Agency
Dec 4, 2025 $99,610,000
2025 Series C Third Lien Tax Allocation Bonds, (Affordable Housing Projects) (Social Bonds) (R) (book entry) (Taxable)
Dated Dec 18, 2025.
Due Aug 1, 2028 to 2036.
First coupon Feb 1, 2027.
Non-callable.
Purchased through negotiation by Stifel, Nicolaus & Co., Inc., Morgan Stanley & Co., Inc., Piper Sandler & Co, as follows:
L.O.: Anzel Galvan LLP, San Francisco, CA.
F.A.: KNN Public Finance, Berkeley, CA.
Oakland (City)
Dec 4, 2025 $190,810,000
General Obligation Bonds, Series 2025B-2 (Measure U) (Social Bonds) (G) (book entry) (Taxable) $180,765,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 15, 2027 to 2049.
First coupon Jan 15, 2026.
2036-2049 Callable Jul 15, 2035 at par.
Purchased through negotiation by Siebert Williams Shank & Co., L.L.C, BofA Securities, Loop Capital Markets, LLC, as follows:
General Obligation Bonds, Series 2025B-3 (Measure U) (G) (book entry) (Taxable) $10,045,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 15, 2027 to 2028.
First coupon Jan 15, 2026.
Non-callable.
L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.
F.A.: PFM Financial Advisors LLC, San Francisco, CA.
CONNECTICUT
Connecticut Health and Educational Facilities Authority
Dec 4, 2025 $35,630,000
Revenue Bonds, Area Cooperative Educational Services Issue Series D (R) (book entry) (Taxable) $7,565,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 1, 2026 to 2033.
First coupon Jul 1, 2026.
Non-callable.
Purchased through negotiation by KeyBanc Capital Markets, as follows:
L.O.: Pullman & Comley, Hartford, CT.
ILLINOIS
Dunlap Community Unit School District No. 323
Dec 3, 2025 $57,125,000
General Obligation Refunding School Bonds, Series (G) (book entry) (Taxable) $9,165,000.
Dated Dec 17, 2025.
Due Apr 1, 2027 to 2033.
First coupon Apr 1, 2026.
Non-callable.
Purchased through negotiation by Bernardi Securities, Inc., as follows:
L.O.: Chapman and Cutler LLP, Chicago, IL.
INDIANA
St John Redevelopment Authority
Dec 4, 2025 $19,470,000
Lease Rental Revenue Bonds, Series 2025B (R) (book entry) (Taxable) $16,660,000.
Dated Dec 18, 2025.
Due Jul 15, 2027 to Jan 15, 2045.
First coupon Jul 15, 2026.
2037-2045 Callable Jul 15, 2034 at par.
Purchased through negotiation by Mesirow Financial, Inc., as follows:
L.O.: Barnes & Thornburg LLP, Indianapolis, IN.
F.A.: Baker Tilly Municipal Advisors, LLC, Indianapolis, IN.
NEW YORK
New York State Dormitory Authority
Dec 5, 2025 $23,125,000
United Cerebral Palsy Associations of New York State, Inc. (D/B/A Constructive Partnerships Unlimited) Revenue Bonds, Series 2025B (R) (book entry) (Taxable) $5,350,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jul 1, 2026 to 2050.
First coupon Jul 1, 2026.
2036-2050 Callable Jul 1, 2035 at par.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Barclay Damon LLP, New York, NY; and Law Offices of Joseph C. Reid, PA, New York, NY.
F.A.: Excelsior Capital Advisory Services LLC, Slingerlands, NY; and Blue Rose Capital Advisors, Chicago, IL.
OHIO
Ohio Housing Finance Agency
Dec 4, 2025 $28,295,000
Multifamily Housing Revenue Bonds, Series 2025B (Silver Birch of Mason Project) (R) (book entry) (Taxable) $1,225,000.
Dated Dec 18, 2025. Interest accrues Dec 18, 2025.
Due Jan 1, 2030 to 2036.
First coupon Jul 1, 2026.
2032-2036 Callable Jan 1, 2031 at 105.000%, declining to par Jan 1, 2031.
Purchased through negotiation by D.A. Davidson & Co., as follows:
L.O.: Ice Miller, Columbus, OH.
PENNSYLVANIA
Philadelphia Authority for Industrial Development
Dec 5, 2025 $58,570,000
Healthcare Facility Revenue Bonds, Series 2025B (Greater Philadelphia Health Action, Incorporated Project) (R) (book entry) (Taxable) $8,965,000.
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Jun 1, 2026 to 2032.
First coupon Jun 1, 2026.
Non-callable.
Purchased through negotiation by Piper Sandler & Co, as follows:
L.O.: Saul Ewing LLP, Philadelphia, PA.
F.A.: National Capital Resources, Philadelphia, PA.
WISCONSIN
Public Finance Authority
Dec 5, 2025 $114,250,000
Student Housing Revenue Bonds, Series 2025B (PRG - Oxford Properties LLC Project) (R) (book entry) (Taxable) $2,625,000.
Dated Dec 16, 2025. Interest accrues Dec 16, 2025.
Due Jul 1, 2028 to 2033.
First coupon Jul 1, 2026.
Non-callable.
Purchased through negotiation by Raymond James & Associates, Inc., as follows:
L.O.: Butler Snow, LLP, Denver, CO.