Results of Competitive Sales

ILLINOIS

Lake County

Aug 11, 2008 . . . . . . $35,360,000

General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2008A (book entry).

Dated Sep 1, 2008.

Due Nov 30, 2009 to 2027.

Callable May 30, 2018 at par.

Winning bid: Raymond James, at 101.4138, TIC 4.2879%.

Due Amount Cpn Yield Conc Ins
11/30/09 $805,000 3.00% 2.10%
11/30/10 $1,255,000 3.25% 2.30%
11/30/11 $1,320,000 3.25% 2.70%
11/30/12 $1,375,000 3.25% 2.93%
11/30/13 $1,440,000 3.375% 3.13%
11/30/14 $1,515,000 3.75% 3.30%
11/30/15 $1,585,000 4.00% 3.45%
11/30/16 $1,660,000 4.00% 3.60%
11/30/17 $1,740,000 4.00% 3.74%
11/30/18 $1,825,000 4.00% 3.86%
11/30/19 $1,905,000 4.125% 4.04%
11/30/20 $2,000,000 4.125% 4.20%
11/30/21 $2,095,000 4.25% 4.32%
11/30/22 $2,195,000 4.25% 4.42%
11/30/23 $2,295,000 4.50% 4.50%
11/30/24 $2,410,000 5.00% 4.47%
11/30/25 $2,525,000 5.00% 4.52%
11/30/26 $2,645,000 5.00% 4.57%
11/30/27 $2,770,000 5.00% 4.62%

L.O.: Chapman & Cutler, Chicago, IL.

F.A.: Speer Financial, Inc., Chicago, IL.

Other bidders were:

Piper Jaffray, TIC 4.3207%

Hutchinson Shockey, TIC 4.3287%

Prager Sealy, TIC 4.3297%

UBS Securities, TIC 4.3574%

Roselle Village

Aug 11, 2008 . . . . . . $2,650,000

General Obligation Bonds (Alternate Revenue Source), Series 2008 (bank qualified) (book entry).

Dated Sep 1, 2008.

Due Dec 1, 2014 to 2033.

Callable Dec 1, 2018 at par.

Winning bid: GKST/Harris/BMO, at n/a, TIC 4.6454%.

Due Amount Cpn Yield Conc Ins
12/1/14 $35,000 4.50% 3.50%
12/1/15 $45,000 4.50% 3.60%
12/1/16 $45,000 4.50% 3.70%
12/1/17 $45,000 4.50% 3.85%
12/1/18 $50,000 4.50% 3.95%
12/1/19 $55,000 4.00% 4.05%
12/1/20 $55,000 4.25% 4.15%
12/1/21 $60,000 4.25% 4.25%
12/1/22 $55,000 4.25% 4.35%
12/1/23 $60,000 4.375% 4.40%
12/1/24 $175,000 4.375% NRO NRO
12/1/25 $185,000 4.50% NRO NRO
12/1/26 $190,000 4.50% NRO NRO
12/1/27 $200,000 4.50% NRO NRO
12/1/28 $205,000 4.50% NRO NRO
12/1/29 $220,000 4.625% NRO NRO
12/1/30 $230,000 4.625% NRO NRO
12/1/31 $240,000 4.75% NRO NRO
12/1/32 $250,000 4.80% NRO NRO
12/1/33 $250,000 4.80% NRO NRO

L.O.: Chapman & Cutler, Chicago, IL.

F.A.: Speer Financial, Inc., Chicago, IL.

Other bidders were:

Stifel Nicolaus, TIC 4.6934%

Sterne Agee, TIC 4.6997%

Bernardi Securities, TIC 4.8123%

KANSAS

Bonner Springs (City)

Aug 11, 2008 . . . . . . $6,095,000

General Obligation Temporary Notes, Series 2008-1 (Renewal and Improvement) (bank qualified) (book entry).

Dated Aug 15, 2008.

Due Sep 1, 2009.

Purchased $6,095,000.00 by UMB Bank, at 2.3%, effective rate 2.7309%.

L.O.: Kutak Rock, Kansas City, MO.

F.A.: George K. Baum & Co., Kansas City, MO.

MINNESOTA

Moorhead Independent School District No. 152

Aug 11, 2008 . . . . . . $3,000,000

General Obligation Aid Anticipation Certificates of Indebtedness, Series 2008A (MN SD Credit Enhancement Program).

Dated Aug 28, 2008.

Due Sep 28, 2009.

Purchased $3,000,000.00 by Janney Montgomery, at 2.75%, plus n/a, effective rate n/a.

L.O.: Knutson, Flynn & Deans, Mendota Heights, MN.

F.A.: Ehlers & Associates, Inc., Roseville, MN.

Other bidders were:

Wells Fargo Brkge, Effective Rate 2.4526%

Windom Independent School District No 177

Aug 11, 2008 . . . . . . $1,000,000

General Obligation Aid Anticipation Certificates of Indebtedness, Series 2008A (MN SD Credit Enhancement Program) (bank qualified) (book entry).

Dated Aug 28, 2008.

Due Sep 28, 2009.

Purchased $1,000,000.00 by Piper Jaffray, at 3.0%, plus $6,130.00, effective rate 2.4341%.

L.O.: Dorsey & Whitney, Minneapolis, MN.

F.A.: Ehlers & Associates, Inc., Roseville, MN.

Other bidders were:

Wells Fargo Brkge, Effective Rate 2.4526%

Janney Montgomery, Effective Rate 2.5884%

NEW JERSEY

Colts Neck Township

Aug 7, 2008 . . . . . . $3,993,550

Bond Anticipation Notes, Series 2008A (bank qualified) (book entry).

Dated Aug 20, 2008.

Due Aug 19, 2009.

Purchased $3,993,550.00 by RBC Capital Mkts, at 2.5%, plus n/a, effective rate n/a.

L.O.: Dilworth Paxson, Cherry Hill, NJ.

Other bidders were:

Janney Montgomery, Effective Rate 2.1988%

Wachovia Bank, Effective Rate 2.42%

Commerce Cap Mkts, Effective Rate 2.4445%

Sovereign Securities, Effective Rate 2.4745%

Sun National Bank, Effective Rate 2.81%

TBGC Investment Corp, Effective Rate 2.85%

Central Jersey Bk, Effective Rate 3.1%

Secaucus Board of Education

Aug 11, 2008 . . . . . . $1,020,169

Temporary Notes (bank qualified).

Dated Aug 18, 2008.

Due Feb 18, 2009.

Purchased $1,020,170.00 by Commerce Cap Mkts, at 2.75%, plus $1,642.47, effective rate 2.428%.

L.O.: Wilentz, Goldman & Spitzer, Woodbridge, NJ.

F.A.: Municipal Official(s).

NEW YORK

Greenburgh Central School District No 7

Aug 11, 2008 . . . . . . $2,000,000

Tax Anticipation Notes for 2008-2009 Taxes (bank qualified).

Dated Aug 18, 2008.

Due Oct 17, 2008.

Purchased $2,000,000.00 by J.P. Morgan Chase, at 2.53%, effective rate 2.53%.

L.O.: Hawkins, Delafield & Wood, New York, NY.

F.A.: New York Municipal Advisors Corp. (NYMAC), Syosset, NY.

Hinsdale Central School District

Aug 11, 2008 . . . . . . $2,012,500

Bond Anticipation Notes, 2008 (bank qualified).

Dated Aug 22, 2008.

Due Jun 25, 2009.

Purchased $2,012,500.00 by Five Star Bnk, at 2.74%, effective rate 2.74%.

L.O.: Orrick, Herrington & Sutcliffe, New York, NY.

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

Janney Montgomery, Effective Rate 3.5%

J.P. Morgan Chase, Effective Rate 3.71%

Mechanicville City School District

Aug 11, 2008 . . . . . . $1,100,000

Bond Anticipation Notes, 2008 (New Issue) (bank qualified).

Dated Aug 25, 2008.

Due Jun 25, 2009.

Purchased $1,100,000.00 by First Niagara Bank, at 2.7%, effective rate 2.7%.

L.O.: Hiscock & Barclay, LLP, Albany, NY.

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

Janney Montgomery, Effective Rate 2.8072%

TEXAS

Polk County

Aug 11, 2008 . . . . . . $2,210,000

Tax Notes, Series 2008 (book entry).

Dated Aug 15, 2008.

Due Aug 15, 2009 to 2013.

Non-callable.

Winning bid: Morgan Keegan, at 100.7192, TIC 3.402%.

Due Amount Cpn Yield Conc Ins
8/15/09 $410,000 3.50% 2.15%
8/15/10 $425,000 3.50% 2.55%
8/15/11 $440,000 3.50% 3.06%
8/15/12 $460,000 3.75% 3.31%
8/15/13 $475,000 3.75% 3.51%

L.O.: Bickerstaff, Heath, Smiley, Pollan, Kever & McDaniel, Austin, TX; and State Attorney General.

F.A.: Coastal Securities Corp., Houston, TX.

Other bidders were:

Southwest Securities, TIC 3.5309%

BOSC, TIC 3.5583%

WASHINGTON

Bellingham (City)

Aug 11, 2008 . . . . . . $6,070,000

Water and Sewer Revenue Bonds, 2008 (bank qualified) (book entry).

Dated Aug 21, 2008.

Due Aug 1, 2010 to 2018.

Non-callable.

Winning bid: Fidelity Capital, at 100.0855, TIC 3.8067%.

Due Amount Cpn Yield Conc Ins
8/1/10 $700,000 3.00% 2.41%
8/1/11 $725,000 3.00% 2.93%
8/1/12 $595,000 3.25% 3.16%
8/1/13 $615,000 3.50% 3.41%
8/1/14 $635,000 3.75% 3.58%
8/1/15 $660,000 4.00% 3.73%
8/1/16 $685,000 4.00% 3.88%
8/1/17 $715,000 4.00% 4.02%
8/1/18 $740,000 4.25% 4.14%

L.O.: Foster Pepper PLLC, Seattle, WA.

F.A.: DashenMusselman, Inc., Mount Vernon, WA.

Other bidders were:

Morgan Stanley, TIC 3.8479%

Wells Fargo Brkge, TIC 3.8894%

Stifel Nicolaus, TIC 4.0046%

Piper Jaffray, TIC 4.0263%

Morgan Keegan, TIC 4.2889%

WISCONSIN

Hammond Village

Aug 11, 2008 . . . . . . $890,000

General Obligation Corporate Purpose Bonds, Series 2008A (bank qualified) (book entry).

Dated Aug 27, 2008.

Due Dec 1, 2009 to Jun 1, 2028.

Callable Dec 1, 2016 at par.

Winning bid: Bremer Bank, at n/a, TIC 4.5231%.

Due Amount Cpn Yield Conc Ins
12/1/09 $25,000 4.00% NRO NRO
12/1/10 $40,000 4.00% NRO NRO
12/1/11 $40,000 4.10% NRO NRO
12/1/12 $40,000 4.10% NRO NRO
12/1/13 $40,000 4.20% NRO NRO
12/1/14 $40,000 4.20% NRO NRO
12/1/15 $45,000 4.30% NRO NRO
12/1/16 $50,000 4.30% NRO NRO
12/1/17 $55,000 4.30% NRO NRO
12/1/18 $55,000 4.40% NRO NRO
12/1/19 $55,000 4.40% NRO NRO
12/1/20 $60,000 4.40% NRO NRO
12/1/21 $60,000 4.50% NRO NRO
12/1/22 $65,000 4.50% NRO NRO
12/1/23 $35,000 4.50% NRO NRO
12/1/24 $35,000 4.75% NRO NRO
12/1/25 $35,000 4.75% NRO NRO
12/1/26 $35,000 4.75% NRO NRO
12/1/27 $40,000 5.00% NRO NRO
6/1/28 $40,000 5.00% NRO NRO

L.O.: Fryberger, Buchanan, Smith & Frederick, Duluth, MN.

F.A.: Ehlers & Associates, Inc., Roseville, MN.

Other bidders were:

Cronin & Co., TIC 4.7255%

Bankers' Bank, TIC 4.7524%

Bernardi Securities, TIC 4.9087%

New Berlin School District

Aug 11, 2008 . . . . . . $16,500,000

Tax and Revenue Anticipation Promissory Notes (book entry).

Dated Aug 19, 2008.

Due Aug 26, 2009.

Non-callable.

Winning bid: DEPFA First Albany, at 100.7540, TIC 1.7503%.

Due Amount Cpn Yield Conc Ins
8/26/09 $16,500,000 2.50% 1.75%

L.O.: Quarles & Brady, Milwaukee, WI.

F.A.: Wisconsin Public Finance4 Professional, LLC, New Berlin, WI.

Other bidders were:

Robert W. Baird, TIC 1.7924%

RBC Capital Mkts, TIC 1.7969%

Janney Montgomery, TIC 2.2417%

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Competitive sales results
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