ARIZONA

Arizona Industrial Development Authority

Dec 16, 2025 $8,190,000

Subordinate Multifamily Housing Revenue Bonds, Series 2025C (The Verge at Ballpark Village Project) (R) (book entry)

Dated Dec 18, 2025.

Due May 1, 2056 to 2065.

First coupon Jan 1, 2026.

2056-2065 Callable May 1, 2026 at 106.000%, declining to par May 1, 2026.

Purchased through negotiation by Colliers Securities LLC, as follows:

L.O.: Kutak Rock, Scottsdale, AZ.

Arizona Industrial Development Authority

Dec 16, 2025 $40,961,950

Subordinate Multifamily Housing Revenue Bonds, 2025B-1 (The Verge at Ballpark Village Project) (R) (book entry) $20,250,000.

Dated Dec 18, 2025.

Due Jun 29, 2030.

First coupon Jan 2, 2026.

2030-2030 Callable Jan 11, 2026 at par.

Privately placed by Colliers Securities LLC, as follows:

L.O.: Kutak Rock, Scottsdale, AZ.

CALIFORNIA

California Municipal Finance Authority

Dec 23, 2025 $78,975,000

Revenue Bonds, Series 2025A (HealthCore Vacaville Issue) (R) (book entry) $59,940,000.

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

Due Feb 1, 2036.

First coupon Feb 1, 2026.

2036-2036 Callable Feb 1, 2027 at par.

Privately placed by Raymond James & Associates, Inc., as follows:

L.O.: Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA.

COLORADO

South Academy Station Metropolitan District No. 3

Dec 17, 2025 $2,061,000

Limited Tax General Obligation Bonds, Series 2025-3 (L) (book entry)

Dated Dec 19, 2025.

Due Dec 19, 2055.

First coupon Dec 19, 2026.

2055-2055 Callable Dec 19, 2026 at par.

Privately placed by Piper Sandler & Co, as follows:

MARYLAND

Maryland Health and Higher Educational Facilities Authority

Dec 18, 2025 $50,430,000

Weekly Variable Rate Revenue Bonds, Series 2025B (The Johns Hopkins Health System Issue) (Letter of Credit issued by: JPMorgan Chase Bank, N.A.) (R) (book entry)

Dated Dec 19, 2025.

Due May 15, 2047 to 2053.

First coupon Jan 2, 2026.

Callable any time at par.

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

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

F.A.: First Tryon Advisors, LLC, Annapolis, MD.

OHIO

Franklin County

Dec 3, 2025 $193,165,000

Weekly Variable Rate Demand Hospital Improvement Revenue Bonds, Series 2025B-1 (Nationwide Children's Hospital) (Letter of Credit issued by: JPMorgan Chase Bank, N.A.) (R) (book entry) $93,165,000.

Dated Dec 4, 2025.

Due Nov 1, 2064.

First coupon Jan 2, 2026.

Callable any time at par.

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

Daily Variable Rate Demand Hospital Improvement Revenue Bonds, Series 2025B-2 (Nationwide Children's Hospital) (Letter of Credit issued by: JPMorgan Chase Bank, N.A.) (R) (book entry) $100,000,000.

Dated Dec 4, 2025.

Due Nov 1, 2065.

First coupon Jan 8, 2026.

Callable any time at par.

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

F.A.: Echo Financial Products, LLC, Wayne, PA.

VIRGIN ISLANDS

Virgin Islands Hotel Development Financing Corporation

Dec 18, 2025 $180,000,000

Hotel Revenue Bonds, Subordinate Lien Series 2025B (Frenchman's Reef Acquisition Project) (R) (book entry) $135,000,000.

Dated Jan 7, 2026.

Due Dec 1, 2055.

First coupon Aug 1, 2026.

2055-2055 Callable Feb 1, 2035 at par.

Privately placed by Piper Sandler & Co, as follows:

Hotel Revenue Bonds, Junior Lien Series 2025C (Frenchman's Reef Acquisition Project) (R) (book entry) $45,000,000.

Dated Jan 7, 2026.

Due Dec 1, 2055.

First coupon Aug 1, 2026.

2055-2055 Callable Feb 1, 2035 at par.

L.O.: Duane Morris, LLP, Atlanta, GA.

F.A.: Fiscal Strategies Group, Inc., Swarthmore, PA.

WISCONSIN

Public Finance Authority

Dec 19, 2025 $11,000,000

Revenue Bonds, Series 2025A-2 Bonds (The Village at Providence Point, Inc. Project), (R) (book entry) $3,920,000.

Dated Dec 23, 2025.

Due Sep 1, 2035.

First coupon Mar 1, 2026.

2035-2035 Callable Sep 1, 2030 at 101.000% plus accrued interest.

Purchased through negotiation by Odeon Capital Group, as follows:

Revenue Bonds, Series 2025B-2 Bonds (The Village at Providence Point, Inc. Project), (R) (book entry) $3,060,000.

Dated Dec 23, 2025.

Due Sep 1, 2032.

First coupon Mar 1, 2026.

2032-2032 Callable Jan 13, 2026 at par.

Revenue Bonds, Series 2025D-2 Bonds (The Village at Providence Point, Inc. Project), (R) (book entry) $4,020,000.

Dated Dec 23, 2025.

Due Sep 1, 2034.

First coupon Mar 1, 2026.

2034-2034 Callable Jan 13, 2026 at par.

TAXABLE ISSUES

ARIZONA

Arizona Industrial Development Authority

Dec 16, 2025 $40,961,950

Subordinate Multifamily Housing Revenue Bonds, 2025B-2 (The Verge at Ballpark Village Project) (R) (book entry) (Taxable) $20,711,950.

Dated Dec 18, 2025.

Due Jun 29, 2030.

First coupon Jan 2, 2026.

2030-2030 Callable Jan 11, 2026 at par.

Privately placed by Colliers Securities LLC, as follows:

L.O.: Kutak Rock, Scottsdale, AZ.

CALIFORNIA

California Municipal Finance Authority

Dec 23, 2025 $78,975,000

Revenue Bonds, Series 2025B (HealthCore Vacaville Issue) (R) (book entry) (Taxable) $19,035,000.

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

Due Feb 1, 2036.

First coupon Feb 1, 2026.

2036-2036 Callable Feb 1, 2027 at par.

Privately placed by Raymond James & Associates, Inc., as follows:

L.O.: Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA.

COLORADO

Colorado Housing and Finance Authority

Dec 15, 2025 $24,460,000

Multi-Family/Project Bonds, Class I Adjustable Rate Bonds, 2025 Series K (Letter of Credit Issued by: Federal Home Loan Bank of Topeka) (R) (book entry) (Taxable)

Dated Dec 23, 2025.

Due Oct 1, 2062.

First coupon Apr 1, 2026.

Callable any time at par.

Purchased through negotiation by Jefferies LLC, as follows:

L.O.: Taft Stettinius & Hollister LLP (formerly Sherman & Howard L.L.C, Denver, CO.

F.A.: CSG Advisors Inc., Atlanta, GA.