ALABAMA

Alabama Highway Authority

Dec 11, 2025 $730,000,000

Special Obligation Revenue Bonds, Series 2025 (R) (book entry)

Dated Dec 23, 2025.

Due Sep 1, 2026 to 2045.

First coupon Sep 1, 2026.

2036-2045 Callable Sep 1, 2035 at par.

Purchased through negotiation by J.P. Morgan Securities LLC, Frazer Lanier Co., Inc., Goldman, Sachs & Co., Blaylock Van, LLC, PNC Capital Markets, Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Bradley Arant Boult Cummings LLC, Birmingham, AL.

F.A.: PFM Financial Advisors LLC, Huntsville, AL.

Alabama Housing Finance Authority

Dec 12, 2025 $11,500,000

Multifamily Housing Revenue Bonds, 2025 Series F (Fred Marshall Court Project) (Mandatory Tender Date: 06/01/2028) (R) (book entry)

Dated Dec 19, 2025. Interest accrues Dec 19, 2025.

Due Dec 1, 2028.

First coupon Jun 1, 2026.

Non-callable.

Purchased through negotiation by Piper Sandler & Co, as follows:

L.O.: Maynard Nexsen PC, Birmingham, AL.

Alabama Housing Finance Authority

Dec 11, 2025 $38,000,000

Multifamily Housing Revenue Bonds, 2025 Series H (Fannie Mae Mbs Secured) (The Viola Project) (R) (book entry) $36,485,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Aug 1, 2044.

First coupon Aug 1, 2026.

Non-callable.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

Multifamily Housing Revenue Bonds, 2025 Series I (Mandatory Tender Date: 02/01/2029) (The Viola Project) (R) (book entry) $1,515,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

2030-2030 Callable Aug 1, 2028 at par.

L.O.: Maynard Nexsen PC, Birmingham, AL.

CALIFORNIA

City of Paso Robles Community Facilities District No. 2022-1N

Dec 11, 2025 $13,420,000

Special Tax Bonds, 2025 Series A (Olsen/South Chandler Ranch - Facilites) (Improvement Area No. 1) (R) (book entry)

Dated Dec 23, 2025.

Due Sep 1, 2027 to 2060.

First coupon Mar 1, 2026.

2033-2060 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.: Best, Best & Krieger LLP, Riverside, CA.

F.A.: NHA Advisors, San Rafael, CA.

City of Paso Robles Community Facilities District No. 2022-1N

Dec 11, 2025 $9,895,000

Special Tax Bonds, 2025 Series A (Olsen/South Chandler Ranch - Facilities) (Improvement Area No. 2) (R) (book entry)

Dated Dec 23, 2025.

Due Sep 1, 2027 to 2060.

First coupon Mar 1, 2026.

2033-2060 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.: Best, Best & Krieger LLP, Riverside, CA.

F.A.: NHA Advisors, San Rafael, CA.

California Housing Finance Agency

Dec 2, 2025 $53,996,000

Limited Obligation Multifamily Housing Revenue Bonds, 2025 Issue NN (5035 Coliseum Street Project) (Mandatory Tender Date: 10/01/2026) (R) (book entry)

Dated Dec 5, 2025.

Due Feb 1, 2056.

First coupon Apr 1, 2026.

2056-2056 Callable Jun 1, 2026 at par.

Purchased through negotiation by RBC Capital Markets, as follows:

L.O.: Orrick, Herrington & Sutcliffe, Los Angeles, CA.

California Municipal Finance Authority

Dec 11, 2025 $57,697,000

Multifamily Housing Revenue Bonds, 2025 Series A (The Winslow) (R) (book entry)

Dated Dec 18, 2025.

Due Jan 1, 2056.

First coupon Jun 1, 2026.

2056-2056 Callable Jun 1, 2028 at par.

Purchased through negotiation by Lument Securities, LLC, as follows:

L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.

COLORADO

Hancock Metropolitan District No. 1

Dec 11, 2025 $7,532,000

Limited Tax General Obligation and Special Revenue Bonds, Series 2025A (L) (bank qualified) (book entry) $6,525,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Dec 1, 2030 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 D.A. Davidson & Co., as follows:

Subordinate Limited Tax General Obligation and Special Revenue Bonds, Series 2025B (L) (bank qualified) (book entry) $1,007,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 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.: Kutak Rock, Denver, CO.

F.A.: MuniCap, Inc, Columbia, MD.

FLORIDA

Florida Housing Finance Corporation

Dec 11, 2025 $40,000,000

Multifamily Mortgage Revenue Bonds, 2025 Series R (Mariposa Grove) (Mandatory Tender Date: 01/01/2029) (R) (book entry)

Dated Dec 18, 2025.

Due Jan 1, 2044.

First coupon Jul 1, 2026.

2044-2044 Callable Jul 1, 2027 at par.

Purchased through negotiation by RBC Capital Markets, as follows:

L.O.: Bryant, Miller & Olive, Tallahassee, FL.

Lakefront Estates Community Development District

Dec 11, 2025 $8,990,000

Special Assessment Bonds, Series 2025 (Assessment Area One) (N) (book entry)

Dated Dec 23, 2025.

Due May 1, 2027 to 2056.

First coupon May 1, 2026.

2037-2056 Callable May 1, 2036 at par.

Purchased through negotiation by FMSbonds, Inc., as follows:

L.O.: Greenberg Traurig, P.A., Miami, FL.

GEORGIA

Savannah Housing Authority

Dec 11, 2025 $28,000,000

Multifamily Housing Revenue Bonds, Series 2025 (Montgomery Landing Project) (Mandatory Tender Date: 07/01/2028) (R) (book entry)

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Jul 1, 2043.

First coupon Jul 1, 2026.

2043-2043 Callable Jan 1, 2028 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Butler Snow, LLP, Atlanta, GA.

Macon-Bibb County Housing Authority

Dec 11, 2025 $26,054,000

Mulitfamily Housing Revenue Bonds, Series 2025 (CAHEC GA Portfolio II Project) (Mandatory Tender Date: 02/01/2028) (R) (book entry)

Dated Dec 30, 2025. Interest accrues Dec 30, 2025.

Due Feb 1, 2029.

First coupon Aug 1, 2026.

2029-2029 Callable Aug 1, 2027 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Butler Snow, LLP, Atlanta, GA.

Atlanta Urban Residential Finance Authority

Dec 12, 2025 $35,000,000

Multifamily Housing Revenue Bonds, Series 2025 (Trinity Central Flats) (Mandatory Tender Date: 02/01/2029) (R) (book entry)

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

2030-2030 Callable Aug 1, 2028 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Kutak Rock, Atlanta, GA.

DeKalb County Housing Authority

Dec 12, 2025 $48,580,000

Affordable Multifamily Housing Revenue Bonds, Series 2025 (Summit Pointe) (R) (book entry)

Dated Dec 17, 2025. Interest accrues Dec 17, 2025.

Due Dec 1, 2028 to 2035.

First coupon Jun 1, 2026.

2033-2035 Callable Dec 1, 2032 at par.

Purchased through negotiation by KeyBanc Capital Markets, as follows:

L.O.: Kutak Rock, Atlanta, GA.

DeKalb County Housing Authority

Dec 12, 2025 $10,000,000

Multifamily Housing Revenue Bonds, Series 2025 (Trinity Central Flats) (Mandatory Tender Date: 02/01/2029) (R) (book entry)

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

2030-2030 Callable Aug 1, 2028 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Kutak Rock, Atlanta, GA.

Atlanta Urban Residential Finance Authority

Dec 12, 2025 $39,225,000

Multifamily Housing Revenue Bonds, Series 2025A (Fannie Mae Mbs Secured) (Auburn Square) (R) (book entry) $21,380,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Aug 1, 2044.

First coupon Aug 1, 2026.

Non-callable.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

Multifamily Housing Revenue Bonds, Series 2025B (Auburn Square) (Mandatory Tender Date: 02/01/2029 (R) (book entry) $17,845,000.

Dated Dec 18, 2025. Interest accrues Dec 18, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

2030-2030 Callable Feb 1, 2029 at par.

L.O.: Kutak Rock, Atlanta, GA.

INDIANA

Indiana Finance Authority

Dec 2, 2025 $175,000,000

Weekly Variable Rate Revenue Bonds, Series 2025D 3 (Ascension Senior Credit Group) (R) (book entry)

Dated Dec 4, 2025.

Due Nov 15, 2052 to 2054.

First coupon Jan 2, 2026.

Callable any time at par.

Purchased through negotiation by J.P. Morgan Securities LLC, as follows:

L.O.: Orrick, Herrington & Sutcliffe, San Francisco, CA.

F.A.: Kaufman, Hall & Associates, LLC, Chicago, IL.

Chesterton (Town)

Dec 11, 2025 $2,000,000

General Obligation Park Bonds, Series 2025 (L) (bank qualified) (book entry)

Dated Dec 23, 2025.

Due Jul 15, 2026 to Jan 15, 2032.

First coupon Jul 15, 2026.

Non-callable.

Privately placed by Baird, as follows:

L.O.: Taft, Stettinius & Hollister LLP, Indianapolis, IN.

F.A.: LWG CPAs & Advisors, Indianapolis, IN.

Crown Point (City)

Dec 11, 2025 $3,750,000

General Obligation Bonds, of 2025 (L) (bank qualified) (book entry)

Dated Dec 30, 2025. Interest accrues Dec 30, 2025.

Due Jul 15, 2026 to Jan 15, 2035.

First coupon Jul 15, 2026.

Non-callable.

Purchased through negotiation by Baird, as follows:

L.O.: Ice Miller, Indianapolis, IN.

F.A.: Financial Solutions Group, Inc., Plainfield, IN.

LOUISIANA

Louisiana

Dec 9, 2025 $116,590,000

Daily Variable Rate Gasoline and Fuels Tax Second Lien Revenue Refunding Bonds, 2025 Series C (Letter of Credit : TD Bank, N.A) (R) (book entry)

Dated Dec 10, 2025.

Due May 1, 2026 to 2043.

First coupon Jan 9, 2026.

Callable any time at par.

Purchased through negotiation by TD Financial Products LLC, as follows:

L.O.: Foley & Judell, New Orleans, LA.

F.A.: Public Resources Advisory Group, Tampa, FL.

MARYLAND

Maryland Health and Higher Educational Facilities Authority

Dec 11, 2025 $80,835,000

Revenue Bonds, Series 2025A (Kennedy Krieger Issue) (R) (book entry)

Dated Dec 23, 2025.

Due Jul 1, 2035 to 2056.

First coupon Jul 1, 2026.

2036-2056 Callable Jul 1, 2035 at par.

Purchased through negotiation by Truist Securities, Inc., Hilltop Securities Inc., as follows:

L.O.: McKennon Shelton & Henn LLP, Baltimore, MD.

F.A.: Public Financial Management, Inc., Harrisburg, PA.

MINNESOTA

Housing and Redevelopment Authority of the City of Saint Paul

Dec 12, 2025 $19,705,000

Charter School Lease Revenue and Refunding Bonds, Series 2025 (Nova Classical Academy Project) (R) (book entry)

Dated Dec 23, 2025. Interest accrues Dec 23, 2025.

Due Sep 1, 2048 to 2065.

First coupon Mar 1, 2026.

2048-2065 Callable Sep 1, 2032 at 102.000%, declining to par Sep 1, 2032.

Purchased through negotiation by Piper Sandler & Co, as follows:

L.O.: Kutak Rock, Minneapolis, MN.

NEBRASKA

Schuyler Community School District No. 0123

Dec 12, 2025 $3,280,000

Limited Tax School Improvement Bonds, Series 2026 (L) (bank qualified) (book entry)

Dated Jan 15, 2026. Interest accrues Jan 15, 2026.

Due Dec 15, 2026 to 2035.

First coupon Jun 15, 2026.

2031-2035 Callable Jan 15, 2031 at par.

Purchased through negotiation by D.A. Davidson & Co., as follows:

L.O.: Gilmore & Bell, Omaha, NE.

NEW HAMPSHIRE

New Hampshire Housing Finance Authority

Dec 11, 2025 $28,610,000

Multi-Family Housing Revenue Bonds, 2025 Series 1 (R) (book entry)

Dated Dec 22, 2025.

Due Mar 1, 2029 to Jul 1, 2049.

First coupon Jul 1, 2026.

2034-2049 Callable Jan 1, 2034 at par, 2029-2029 Callable Oct 1, 2028 at par.

Purchased through negotiation by BofA Securities, RBC Capital Markets, Morgan Stanley & Co., Inc., as follows:

L.O.: McCarter & English, LLP, Boston, MA.

F.A.: Caine, Mitter & Associates, New York, NY.

New Hampshire Housing Finance Authority

Dec 11, 2025 $28,610,000

Multi-Family Housing Revenue Bonds, 2025 Series 1 (R) (book entry)

Dated Dec 22, 2025.

Due Mar 1, 2029 to Jul 1, 2049.

First coupon Jul 1, 2026.

2034-2049 Callable Jan 1, 2034 at par, 2029-2029 Callable Oct 1, 2028 at par.

Purchased through negotiation by BofA Securities, RBC Capital Markets, Morgan Stanley & Co., Inc., as follows:

L.O.: McCarter & English, LLP, Boston, MA.

F.A.: Caine, Mitter & Associates, New York, NY.

NEW JERSEY

Mercer County Improvement Authority

Dec 11, 2025 $20,325,000

Lease Revenue Bonds, Series 2025 (R) (book entry)

Dated Dec 23, 2025.

Due Sep 1, 2026 to 2040.

First coupon Mar 1, 2026.

2034-2040 Callable Sep 1, 2033 at par.

Purchased through negotiation by NW Capital a division of Windsor Financial Group, as follows:

L.O.: Gibbons P.C., Newark, NJ.

F.A.: FSL Public Finance, LLC, Reading, PA.

OHIO

Columbus Metropolitan Housing Authority

Dec 11, 2025 $51,795,000

General Revenue Bonds, Series 2025F (Thornton Hall Project) (R) (book entry)

Dated Dec 18, 2025. Interest accrues Dec 18, 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.: Squire Patton Boggs (US) LLP, Cleveland, OH.

Ohio Housing Finance Agency

Dec 11, 2025 $42,500,000

Multifamily Housing Revenue Bonds, Series 2025 (Tyler's Creek Apartments Project) (Mandatory Tender Date: 02/01/2030) (R) (book entry)

Dated Dec 19, 2025. Interest accrues Dec 19, 2025.

Due Jan 1, 2044.

First coupon Aug 1, 2026.

2044-2044 Callable Jan 1, 2029 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

L.O.: Dinsmore & Shohl LLP, Cincinnati, OH.

Delaware (City)

Dec 11, 2025 $9,500,000

Various Purpose (General Obligation Limited Tax) Bond Anticipation Notes, Series 2025C (L) (book entry)

Dated Dec 22, 2025.

Due Apr 16, 2026.

First coupon Apr 16, 2026.

Non-callable.

Purchased through negotiation by PNC Capital Markets, as follows:

L.O.: Squire Patton Boggs (US) LLP, Cleveland, OH.

F.A.: Rockmill Financial Consulting, LLC, Lancaster, OH.

Springboro Community City School District

Dec 11, 2025 $14,740,000

School Facilities Improvement Bond Anticipation Notes, Series 2025 (General Obligation) (G) (book entry)

Dated Dec 23, 2025. Interest accrues Dec 23, 2025.

Due Dec 22, 2026.

Non-callable.

Purchased through negotiation by PNC Capital Markets, as follows:

L.O.: Dinsmore & Shohl LLP, Columbus, OH.

F.A.: Rockmill Financial Consulting, LLC, Lancaster, OH.

Port of Greater Cincinnati Development Authority

Dec 11, 2025 $42,395,000

Multifamily Housing Revenue Bonds, Series 2025 (Fannie Mae MBS Secured) (Cambridge Arms) (R) (book entry)

Dated Dec 16, 2025. Interest accrues Dec 16, 2025.

Due May 1, 2026 to Nov 1, 2040.

First coupon May 1, 2026.

Non-callable.

Purchased through negotiation by KeyBanc Capital Markets, as follows:

L.O.: Dinsmore & Shohl LLP, Cincinnati, OH.

Bay Village (City)

Dec 4, 2025 $9,875,000

Fire Station Improvement Limited Tax General Obligation Bond Anticipation Notes, Series 2025 (L) (book entry)

Dated Dec 18, 2025.

Due Dec 17, 2026.

First coupon Dec 17, 2026.

Non-callable.

Privately placed by KeyBanc Capital Markets, as follows:

L.O.: Squire Patton Boggs (US) LLP, Cleveland, OH.

PENNSYLVANIA

Hanover Area School District

Dec 11, 2025 $27,920,000

General Obligation Bonds, Series of 2026 (L) (book entry)

Dated Jan 15, 2026.

Due Jun 1, 2027 to 2051.

First coupon Jun 1, 2026.

2034-2051 Callable Dec 1, 2033 at par.

Purchased through negotiation by PNC Capital Markets, as follows:

L.O.: Stevens & Lee, Forty Fort, PA.

F.A.: FSL Public Finance, LLC, Scranton, PA.

RHODE ISLAND

Rhode Island Health and Educational Building Corporation

Dec 11, 2025 $139,580,000

Public Schools Revenue Bond Financing Program Revenue Bonds Series 2025 H (City of Warwick Issue) (R) (book entry)

Dated Dec 23, 2025.

Due May 15, 2027 to 2050.

First coupon May 15, 2026.

2037-2050 Callable May 15, 2036 at par.

Purchased through negotiation by BofA Securities, Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, Siebert Williams Shank & Co., L.L.C, as follows:

L.O.: Troutman Pepper Locke LLP, Providence, RI.

F.A.: PFM Financial Advisors LLC, Boston, MA.

SOUTH CAROLINA

Myrtle Beach (City)

Dec 11, 2025 $23,200,000

Limited Obligation Bonds, Series 2025 (Stormwater Revenue Pledge) (R) (book entry)

Dated Dec 23, 2025.

Due Jun 1, 2027 to 2045.

First coupon Jun 1, 2026.

2036-2045 Callable Jun 1, 2035 at par.

Purchased through negotiation by Wells Fargo Corporate & Investment Banking, as follows:

L.O.: Pope Flynn LLC, Charleston, SC.

F.A.: First Tryon Advisors, Charlotte, NC.

TEXAS

Texas Municipal Gas Acquisition and Supply Corporation IV

Dec 11, 2025 $850,055,000

Gas Supply Revenue Bonds, Series 2025 (R) (book entry)

Dated Dec 30, 2025.

Due Jan 1, 2027 to 2036.

First coupon Jul 1, 2026.

2036-2036 Callable Jul 1, 2035 at par.

Purchased through negotiation by BofA Securities, as follows:

L.O.: Norton Rose Fulbright US LLP, Dallas, TX; and State Attorney General.

F.A.: PFM Financial Advisors LLC, Austin, TX.

Floresville (City)

Dec 12, 2025 $9,610,000

Combination Tax and Revenue Certificates of Obligation, Series 2026 (L) (book entry)

Dated Dec 1, 2025. Interest accrues Jan 8, 2026.

Due Sep 1, 2026 to 2045.

First coupon Sep 1, 2026.

2036-2045 Callable Sep 1, 2035 at par.

Purchased through negotiation by Piper Sandler & Co, SWBC Investment Services, LLC, as follows:

L.O.: McCall Parkhurst & Horton, San Antonio, TX; and State Attorney General.

F.A.: Specialized Public Finance Inc., San Antonio, TX.

Clifton Higher Education Finance Corporation

Dec 11, 2025 $43,220,000

Education Revenue and Refunding Bonds, Series 2025A (Aristoi Classical Academy, Inc.) (R) (book entry) $42,780,000.

Dated Dec 1, 2025. Interest accrues Dec 23, 2025.

Due Aug 15, 2028 to 2055.

First coupon Feb 15, 2026.

2035-2055 Callable Aug 15, 2034 at par.

Purchased through negotiation by Baird, as follows:

L.O.: Schulman, Lopez, Hoffer & Adelstein, LLP, Houston, TX; and State Attorney General.

F.A.: Masterson Advisors LLC, Houston, TX.

UTAH

Mida Mountain Village Public Infrastructure District

Dec 11, 2025 $123,286,243

Tax Allocation Revenue Bonds, Series 2025 1 (R) (book entry) $105,665,000.

Dated Dec 23, 2025.

Due Jun 1, 2043 to 2060.

First coupon Jun 1, 2026.

2043-2060 Callable Jun 1, 2035 at par.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., KeyBanc Capital Markets, American Veterans Group, as follows:

Tax Allocation Revenue Convertible Capital Appreciation Bonds, Series 2025 2 (Conversion Date: 06/01/2031) (R) (book entry) $17,621,243.

Dated Dec 23, 2025.

Due Jun 1, 2035 to 2043.

2043-2043 Callable Jun 1, 2035 at par.

L.O.: Gilmore & Bell, Salt Lake City, UT.

F.A.: LRB Public Finance Advisors, Inc., Salt Lake, UT.

WASHINGTON

Monroe (City)

Dec 11, 2025 $17,760,000

Water and Sewer Revenue Bonds, 2025 (R) (book entry)

Dated Dec 30, 2025. Interest accrues Dec 30, 2025.

Due Dec 1, 2026 to 2050.

First coupon Jun 1, 2026.

2036-2050 Callable Dec 1, 2035 at par.

Purchased through negotiation by D.A. Davidson & Co., as follows:

L.O.: Foster Garvey, Seattle, WA.

Housing Authority of the City of Seattle

Dec 11, 2025 $50,505,000

General Revenue Supported Multifamily Housing Revenue Bonds, Series 2025 (Jackson Park Village Project) (R) (book entry)

Dated Dec 22, 2025. Interest accrues Dec 22, 2025.

Due Dec 1, 2029 to 2032.

First coupon Jun 1, 2026.

2029-2029 Callable Apr 1, 2029 at par, 2031-2032 Callable Dec 1, 2030 at par.

Purchased through negotiation by KeyBanc Capital Markets, as follows:

L.O.: Foster Garvey, Seattle, WA.

Housing Authority of the City of Seattle

Dec 11, 2025 $50,505,000

General Revenue Supported Multifamily Housing Revenue Bonds, Series 2025 (Jackson Park Village Project) (R) (book entry)

Dated Dec 22, 2025. Interest accrues Dec 22, 2025.

Due Dec 1, 2029 to 2032.

First coupon Jun 1, 2026.

2029-2029 Callable Apr 1, 2029 at par, 2031-2032 Callable Dec 1, 2030 at par.

Purchased through negotiation by KeyBanc Capital Markets, as follows:

L.O.: Foster Garvey, Seattle, WA.

TAXABLE ISSUES

MARYLAND

Maryland Health and Higher Educational Facilities Authority

Dec 11, 2025 $13,960,000

Revenue Bonds, Series 2025B (Kennedy Krieger Issue) (R) (book entry) (Taxable)

Dated Dec 23, 2025.

Due Jul 1, 2027 to 2035.

First coupon Jul 1, 2026.

Non-callable.

Purchased through negotiation by Truist Securities, Inc., Hilltop Securities Inc., as follows:

L.O.: McKennon Shelton & Henn LLP, Baltimore, MD.

F.A.: Public Financial Management, Inc., Harrisburg, PA.

TEXAS

Clifton Higher Education Finance Corporation

Dec 11, 2025 $43,220,000

Education Revenue and Refunding Bonds, Series 2025B (Aristoi Classical Academy, Inc.) (R) (book entry) (Taxable) $440,000.

Dated Dec 1, 2025. Interest accrues Dec 23, 2025.

Due Aug 15, 2028 to 2030.

First coupon Feb 15, 2026.

Non-callable.

Purchased through negotiation by Baird, as follows:

L.O.: Schulman, Lopez, Hoffer & Adelstein, LLP, Houston, TX; and State Attorney General.

F.A.: Masterson Advisors LLC, Houston, TX.