MINNESOTA

Cottage Grove (City)

Dec 19, 2025 $45,280,000

Multifamily Housing Revenue Bonds, Series 2025A (Hadley Ridge Apartments Project) (R) (book entry) $32,255,000.

Dated Dec 30, 2025.

Due Feb 1, 2032 to 2043.

First coupon Aug 1, 2026.

2039-2043 Callable Feb 1, 2038 at par.

Purchased through negotiation by Colliers Securities LLC, as follows:

Multifamily Housing Revenue Bonds, Series 2025B (Hadley Ridge Apartments Project) (Mandatory Prepayment Date: 02/01/2029) (R) (book entry) $1,300,000.

Dated Dec 30, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

Non-callable.

Multifamily Housing Revenue Bonds, Series 2025D (Hadley Ridge Apartments Project) (R) (book entry) $2,000,000.

Dated Dec 30, 2025.

Due Aug 1, 2043.

First coupon Apr 1, 2027.

Callable any time at par.

L.O.: Taft, Stettinius & Hollister LLP, Minneapolis, MN.

TAXABLE ISSUES

MINNESOTA

Cottage Grove (City)

Dec 19, 2025 $45,280,000

Multifamily Housing Revenue Bonds, Series 2025C (Hadley Ridge Apartments Project) (Mandatory Prepayment Date: 02/01/2029) (R) (book entry) (Taxable) $9,725,000.

Dated Dec 30, 2025.

Due Feb 1, 2030.

First coupon Aug 1, 2026.

Non-callable.

Purchased through negotiation by Colliers Securities LLC, as follows:

L.O.: Taft, Stettinius & Hollister LLP, Minneapolis, MN.