Results of Competitive Sales

CALIFORNIA

Processing Content

Ocean View School District

May 29, 2014 . . . . . . $10,720,000

Certificates of Participation (2014 School Facilities Project) (book entry).

Dated Jun 19, 2014.

Due Jun 1, 2015 to 2029.

Callable Jun 1, 2023 at par.

Winning bid: Morgan Stanley, at 99.7267, TIC 3.0395%.

Due Amount Cpn Yield Conc Ins
6/1/15 $405,000 3.00% 0.30% BAM
6/1/16 $405,000 3.00% 0.55% BAM
6/1/17 $430,000 3.00% 0.85% BAM
6/1/18 $440,000 3.00% 1.25% BAM
6/1/19 $470,000 3.00% 1.55% BAM
6/1/20 $495,000 3.00% 1.85% BAM
6/1/21 $525,000 2.00% 2.117% BAM
6/1/22 $740,000 2.25% 2.389% BAM
6/1/23 $935,000 3.00% 2.59% BAM
6/1/24 $975,000 3.00% 2.80% BAM
6/1/25 $1,005,000 3.00% 2.96% BAM
6/1/26 $920,000 3.00% 3.13% BAM
6/1/27 $955,000 3.00% 3.238% BAM
6/1/28 $990,000 3.25% 3.363% BAM
6/1/29 $1,030,000 3.375% 3.461% BAM

Other managers: Ramirez & Co., Inc..

L.O.: Best, Best & Krieger LLP, San Diego, CA.

F.A.: Government Financial Strategies, Inc., Sacramento, CA.

Other bidders were:

UBS Financial Svcs, TIC 3.0511%

Robert W. Baird, TIC 3.1127%

Hutchinson Shockey, TIC 3.2233%

MASSACHUSETTS

Maynard (Town)

May 29, 2014 . . . . . . $1,521,000

General Obligation Bond Anticipation Notes Unlimited Tax (new money) (bank qualified).

Dated Jun 6, 2014.

Due Mar 6, 2015.

Purchased $1,521,000.00 by TD Securities, at 0.75%, plus $4,350.06, effective rate 0.3687%.

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: FirstSouthwest, Boston, MA.

Other bidders were:

Jefferies, Effective Rate 0.3879%

Eastern Bk Cap Mkts, Effective Rate 0.388%

Century Bk, Effective Rate 0.4%

Saugus (Town)

May 29, 2014 . . . . . . $1,863,163

General Obligation Bond Anticipation Notes (new money) (bank qualified).

Dated Jun 20, 2014.

Due Jun 19, 2015.

Purchased $1,863,160.00 by People's United Bk, at 0.85%, plus $5,589.49, effective rate 0.5492%.

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: FirstSouthwest, Boston, MA.

Other bidders were:

Eastern Bk Cap Mkts, Effective Rate 0.594%

Jefferies, Effective Rate 0.8489%

Townsend (Town)

May 29, 2014 . . . . . . $150,000

General Obligation Bond Anticipation Notes (new) (bank qualified).

Dated Jun 6, 2014.

Due Dec 12, 2014.

Purchased $150,000.00 by Eastern Bk Cap Mkts, at 0.55%, effective rate 0.55%.

F.A.: FirstSouthwest, Boston, MA.

Other bidders were:

Hampden Bank, Effective Rate 0.64%

UniBank Fiscal Adv, Effective Rate 0.65%

Century Bk, Effective Rate 0.65%

Roosevelt & Cross, Effective Rate 1.7381%

Wellesley (Town)

May 29, 2014 . . . . . . $8,746,030

General Obligation Bond Anticipation Notes (new money) (bank qualified).

Dated Jun 6, 2014.

Due Dec 5, 2014.

Purchased $8,746,030.00 by TD Securities, at 0.75%, plus $28,424.59, effective rate 0.0964%.

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: FirstSouthwest, Boston, MA.

Other bidders were:

Eastern Bk Cap Mkts, Effective Rate 0.101%

Mitsubishi UFJ Secs, Effective Rate 0.1285%

Jefferies, Effective Rate 0.1472%

Century Bk, Effective Rate 0.2874%

Wrentham (Town)

May 29, 2014 . . . . . . $2,300,000

General Obligation Municipal Purpose Loan of 2014 Bonds (bank qualified) (book entry).

Dated Jun 12, 2014.

Due Jun 1, 2015 to 2034.

Callable Jun 1, 2024 at par.

Winning bid: Robert W. Baird, at 102.5221, TIC 2.6652%.

Due Amount Cpn Yield Conc Ins
6/1/15 $150,000 2.00% 0.25%
6/1/16 $150,000 2.00% 0.45%
6/1/17 $145,000 2.00% 0.70%
6/1/18 $145,000 2.00% 0.90%
6/1/19 $140,000 2.00% 1.25%
6/1/20 $140,000 2.00% 1.50%
6/1/21 $140,000 3.00% 1.70%
6/1/22 $140,000 3.00% 1.90%
6/1/23 $140,000 3.00% 2.05%
6/1/24 $135,000 3.00% 2.20%
6/1/27 $300,000 3.00% 2.60%
6/1/29 $200,000 3.00% 2.80%
6/1/34 $375,000 3.50% 3.30%

Other managers: Ross, Sinclaire & Associates LLC, Coastal Securities Corp., Edward Jones, WNJ Capital, SAMCO Capital Markets, Loop Capital Markets, LLC, Crews & Associates, Inc., Davenport & Company LLC, Vining-Sparks IBG, Limited Partnership, Isaak Bond Investments, Inc., CastleOak Securities, L.P., R. Seelaus & Co., Inc., Oppenheimer & Co., Inc..

L.O.: Edwards Wildman Palmer LLP, Boston, MA.

F.A.: Eastern Bank Municipal Finance, Boston, MA.

Other bidders were:

UBS Financial Svcs, TIC 2.6843%

Morgan Stanley, TIC 2.6951%

BOSC, TIC 2.9616%

NEW JERSEY

Hightstown Borough

May 29, 2014 . . . . . . $3,406,546

Consisting of $2,822,546 Bond Anticipation Note and $584,000 Water/Sewer Utility Bond Anticipation Note (bank qualified).

Dated Jun 5, 2014.

Due Jun 5, 2015.

Purchased $3,406,550.00 by TD Bank, N.A., at 0.54%, effective rate 0.54%.

L.O.: McManimon Scotland & Baumann, Roseland, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 0.739%

First Constitution, Effective Rate 0.75%

Oppenheimer, Effective Rate 0.7704%

PNC Bank, Effective Rate 0.79%

TD Securities, Effective Rate 0.854%

Passaic Vly Wtr Comm, Effective Rate 0.89%

Middlesex County

May 29, 2014 . . . . . . $19,710,000

Various General Obligation Bonds, Series 2014 Consisting of: General Improvement Bonds; County Vocational-Technical Schools Bonds; and County College Bonds (book entry).

Dated Jun 17, 2014.

Due Feb 15, 2015 to 2028.

Callable Feb 15, 2022 at par.

Winning bid: Janney Montgomery, at n/a, TIC 2.0781%.

Due Amount Cpn Yield Conc Ins
2/15/15 $2,210,000 1.00% 0.15%
2/15/16 $2,215,000 1.00% 0.29%
2/15/17 $2,325,000 2.00% 0.60%
2/15/18 $2,470,000 2.00% 0.90%
2/15/19 $1,315,000 2.00% 1.20%
2/15/20 $1,050,000 2.00% 1.47%
2/15/21 $1,075,000 2.00% 1.77%
2/15/22 $1,075,000 2.00% 2.00%
2/15/23 $1,075,000 2.125% 2.15%
2/15/24 $1,100,000 2.25% 2.25%
2/15/25 $1,200,000 2.375% 2.50%
2/15/26 $1,200,000 3.00% 2.65%
2/15/27 $700,000 3.00% 2.85%
2/15/28 $700,000 3.00% 3.00%

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

F.A.: Phoenix Advisors, LLC, Bordentown, NJ.

Other bidders were:

Wells Fargo Secs, TIC 2.0798%

Morgan Stanley, TIC 2.0837%

UBS Financial Svcs, TIC 2.0881%

Hutchinson Shockey, TIC 2.1045%

FTN Fin Cap Mkts, TIC 2.1617%

Robert W. Baird, TIC 2.1914%

Middlesex County

May 29, 2014 . . . . . . $34,200,000

Bond Anticipation Notes (book entry).

Dated Jun 5, 2014.

Due Jun 5, 2015.

Purchased $34,200,000.00 by Morgan Stanley, at 0.75%, plus $211,698.00, effective rate 0.131%.

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

F.A.: Phoenix Advisors, LLC, Bordentown, NJ.

Other bidders were:

JPMorgan, Effective Rate 0.131%

TD Securities, Effective Rate 0.1315%

PNC Capital Markets, Effective Rate 0.152%

Wells Fargo Secs, Effective Rate 0.152%

Jefferies, Effective Rate 0.168%

Orange Township (City)

May 29, 2014 . . . . . . $973,040

Special Emergency Notes (bank qualified).

Dated Jun 4, 2014.

Due Jun 4, 2015.

Purchased $973,040.00 by Oppenheimer, at 1.25%, plus $1,475.00, effective rate 1.0984%.

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

F.A.: Municipal Official(s).

NEW YORK

Bath Central School District

May 29, 2014 . . . . . . $1,740,000

Bond Anticipation Notes, 2014 (Renewals) (bank qualified).

Dated Jun 13, 2014.

Due Jun 12, 2015.

Purchased $1,740,000.00 by Jefferies, at 1.25%, plus $8,789.00, effective rate 0.7435%.

L.O.: Timothy R. McGill, Esq., Fairport, NY.

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

Other bidders were:

Oppenheimer, Effective Rate 0.8273%

Zions First Natl Bk, Effective Rate 0.86%

Hyde Park Central School District

May 29, 2014 . . . . . . $505,000

Bond Anticipation Notes, 2014 (Renewals) (bank qualified).

Dated Jun 13, 2014.

Due Jun 12, 2015.

Purchased $505,000.00 by Bank of Greene Co, at 0.75%, effective rate 0.75%.

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

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

Other bidders were:

FNB of Scotia, Effective Rate 0.83%

TD Bank, N.A., Effective Rate 0.91%

Roosevelt & Cross, Effective Rate 0.9333%

Jefferies, Effective Rate 0.975%

Oppenheimer, Effective Rate 1.0741%

M & T Bank, Effective Rate 1.29%

Orleans County

May 29, 2014 . . . . . . $670,000

Public Improvement (Serial) Bonds, 2014 (bank qualified).

Dated Jun 11, 2014.

Due Feb 1, 2015 to 2023.

Non-callable.

Winning bid: Roosevelt & Cross, at n/a, NIC 2.3889%.

Due Amount Cpn Yield Conc Ins
2/1/15 $60,000 2.125% 0.60%
2/1/16 $70,000 2.125% 0.90%
2/1/17 $70,000 2.125% 1.25%
2/1/18 $70,000 2.125% 1.55%
2/1/19 $75,000 2.25% 1.85%
2/1/20 $75,000 2.25% 2.05%
2/1/21 $80,000 2.25% 2.25%
2/1/22 $85,000 2.50% 2.50%
2/1/23 $85,000 2.75% 2.75%

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

F.A.: Fiscal Advisors & Marketing, Inc., Syracuse, NY.

Other bidders were:

Bank of Greene Co, NIC 2.4363%

Sage Rutty, NIC 2.7492%

Orleans County

May 29, 2014 . . . . . . $1,600,000

Revenue Anticipation Notes, 2014 (bank qualified).

Dated Jun 11, 2014.

Due May 29, 2015.

Purchased $1,600,000.00 by Jefferies, at 1.25%, plus $7,122.00, effective rate 0.7895%.

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

F.A.: Fiscal Advisors & Marketing, Inc., Syracuse, NY.

Other bidders were:

Oppenheimer, Effective Rate 0.8314%

Roosevelt & Cross, Effective Rate 0.9334%

West Genesee Central School District

May 29, 2014 . . . . . . $5,000,000

Revenue Anticipation Notes, 2014.

Dated Jun 18, 2014.

Due Dec 18, 2014.

Purchased $5,000,000.00 by TD Securities, at 0.75%, plus $13,400.00, effective rate 0.214%.

L.O.: Trespasz & Marquardt, LLP, Syracuse, NY.

F.A.: Fiscal Advisors & Marketing, Inc., Syracuse, NY.

Other bidders were:

Jefferies, Effective Rate 0.4279%

JPMorgan Chase, Effective Rate 0.43%

Oppenheimer, Effective Rate 0.6468%

First Niagara Bank, Effective Rate 0.9%

OHIO

Greene County

May 29, 2014 . . . . . . $1,148,000

Various Purpose (Limited Tax) General Obligation Bond Anticipation Notes, Series 2014A (bank qualified) (book entry).

Dated Jun 12, 2014.

Due Jun 11, 2015.

Purchased $1,148,000.00 by Jefferies, at 1.25%, plus $6,900.00, effective rate 0.647%.

L.O.: Peck, Shaffer & Williams div. of Dinsmore & Shohl LLP, Cincinnati, OH.

F.A.: Sudsina & Associates, Aurora, OH.

Other bidders were:

Oppenheimer, Effective Rate 0.767%

PNC Bank, Effective Rate 0.84%

OKLAHOMA

Garfield County Independent School District No. 57 (Enid)

May 29, 2014 . . . . . . $6,030,000

Building Bonds of 2014 (bank qualified) (book entry).

Dated Jul 1, 2014.

Due Jul 1, 2016.

Non-callable.

Winning bid: Baker Group, at n/a, NIC 0.6435%.

Due Amount Cpn Yield Conc Ins
7/1/16 $6,030,000 0.65% 0.50%

In association with: BancCentral National Association.

L.O.: State Attorney General; and Hilborne & Weidman, Tulsa, OK.

F.A.: Stephen H. McDonald & Associates, Inc., Norman, OK.

Other bidders were:

First Bankers' Banc, NIC 0.6835%

Lincoln County Independent School District No. 54 (Stroud)

May 29, 2014 . . . . . . $635,000

Building Bonds of 2014 (bank qualified) (book entry).

Dated Aug 1, 2014.

Due Aug 1, 2016.

Non-callable.

Winning bid: BOSC, at n/a, NIC 0.7%.

Due Amount Cpn Yield Conc Ins
8/1/16 $635,000 0.70% 0.50%

In association with: Stroud National Bank.

L.O.: State Attorney General; and Hilborne & Weidman, Tulsa, OK.

F.A.: Stephen H. McDonald & Associates, Inc., Norman, OK.

Other bidders were:

UMB Bank, NIC 0.75%

Baker Group, NIC 0.75%

BancFirst, NIC 0.75%

Country Club Bank, NIC 0.855%

Rogers County Independent School District No. 3 (Chelsea)

May 29, 2014 . . . . . . $875,000

Building Bonds of 2014 (bank qualified) (book entry).

Dated Jul 1, 2014.

Due Jul 1, 2016 to 2019.

Non-callable.

Winning bid: BOSC, at n/a, NIC 1.0407%.

Due Amount Cpn Yield Conc Ins
7/1/16 $215,000 1.70% 0.50%
7/1/17 $220,000 0.70% 0.70%
7/1/18 $220,000 0.90% 0.90%
7/1/19 $220,000 1.10% 1.10%

In association with: Bank of Oklahoma, Bank of Commerce.

L.O.: Phillips Murrah, P.C., Oklahoma City, OK; and State Attorney General.

F.A.: Stephen L. Smith Corp., Jenks, OK.

Other bidders were:

UMB Bank, NIC 1.2216%

Washington County Independent School District No. 18 (Caney Valley)

May 29, 2014 . . . . . . $540,000

Building Bonds of 2014 (bank qualified) (book entry).

Dated Jul 1, 2014.

Due Jul 1, 2016.

Non-callable.

Winning bid: BOSC, at n/a, NIC 0.7%.

Due Amount Cpn Yield Conc Ins
7/1/16 $540,000 0.70% 0.50%

In association with: Bank of Oklahoma.

L.O.: Phillips Murrah, P.C., Oklahoma City, OK; and State Attorney General.

F.A.: Stephen L. Smith Corp., Jenks, OK.

Other bidders were:

UMB Bank, NIC 0.775%

SOUTH CAROLINA

Anderson County School District No. 1

May 29, 2014 . . . . . . $20,215,000

General Obligation Refunding Bonds, Series 2014B (book entry).

Dated Jun 19, 2014.

Due Mar 1, 2015 to 2033.

Callable Mar 1, 2024 at par.

Winning bid: Robert W. Baird, at 100.4152, TIC 3.0227%.

Due Amount Cpn Yield Conc Ins
3/1/15 $755,000 2.00% 0.25% SCSDE
3/1/16 $1,300,000 2.00% 0.35% SCSDE
3/1/17 $870,000 2.00% 0.55% SCSDE
3/1/18 $2,025,000 2.00% 0.80% SCSDE
3/1/19 $2,275,000 4.00% 1.11% SCSDE
3/1/20 $70,000 2.00% 1.40% SCSDE
3/1/21 $70,000 2.00% 1.70% SCSDE
3/1/22 $70,000 2.00% 1.85% SCSDE
3/1/23 $75,000 2.00% 2.10% SCSDE
3/1/24 $75,000 2.125% 2.25% SCSDE
3/1/25 $75,000 3.00% 2.50% SCSDE
3/1/26 $80,000 3.00% 2.70% SCSDE
3/1/27 $1,625,000 3.00% 2.85% SCSDE
3/1/28 $1,675,000 3.00% 3.00% SCSDE
3/1/29 $1,725,000 3.00% 3.05% SCSDE
3/1/30 $1,775,000 3.00% 3.15% SCSDE
3/1/31 $1,830,000 3.125% 3.25% SCSDE
3/1/32 $1,890,000 3.20% 3.35% SCSDE
3/1/33 $1,955,000 3.25% 3.40% SCSDE

Other managers: CL King & Associates, Crews & Associates, Inc., Loop Capital Markets, LLC, SAMCO Capital Markets, Coastal Securities Corp., Duncan-WIlliams, Inc., Incapital LLC, Ross, Sinclaire & Associates LLC, CastleOak Securities, L.P., Wedbush Securities Inc., Eastern Bank Capital Markets, Bernardi Securities, Inc., Cronin & Co., Inc., R. Seelaus & Co., Inc., Sterne, Agee & Leach, Inc, Oppenheimer & Co., Inc., George K. Baum & Co..

L.O.: McNair Law Firm, Columbia, SC.

F.A.: Southwest Securities, Inc., Columbia, SC.

Other bidders were:

Wells Fargo Secs, TIC 3.16%

PNC Capital Markets, TIC 3.1736%

Citigroup, TIC 3.18%

Janney Montgomery, TIC 3.1841%

Hutchinson Shockey, TIC 3.2%

Morgan Stanley, TIC 3.2139%

Piper Jaffray, TIC 3.278%

Mesirow Financial, TIC 3.3184%

FTN Fin Cap Mkts, TIC 3.3831%

JPMorgan, TIC 3.5238%

TEXAS

Harris County Municipal Utility District No. 278

May 29, 2014 . . . . . . $2,500,000

Unlimited Tax Bonds, Series 2014 (bank qualified) (book entry).

Dated Jun 1, 2014.

Due Sep 1, 2016 to 2038.

Callable Sep 1, 2021 at par.

Winning bid: RBC Capital Mkts, at 98.2000, NIC 4.3794%.

Due Amount Cpn Yield Conc Ins
9/1/16 $25,000 2.00% 1.00%
9/1/17 $25,000 2.00% 1.40%
9/1/18 $25,000 2.00% 1.70%
9/1/19 $25,000 2.00% 2.00%
9/1/20 $25,000 2.25% 2.25%
9/1/21 $25,000 2.50% 2.50%
9/1/22 $25,000 2.75% 2.75%
9/1/23 $25,000 3.00% 3.00%
9/1/24 $25,000 3.20% 3.20%
9/1/25 $25,000 3.40% 3.40%
9/1/26 $25,000 3.60% 3.60%
9/1/27 $25,000 3.70% 3.70%
9/1/31 $100,000 4.00% 4.00%
9/1/32 $25,000 4.00% 4.10%
9/1/33 $25,000 4.125% 4.20%
9/1/34 $25,000 4.25% 4.30%
9/1/35 $25,000 4.25% 4.35%
9/1/38 $2,000,000 4.375% 4.40%

L.O.: Schwartz, Page & Harding, Houston, TX; and State Attorney General.

F.A.: Rathmann & Associates, L.P., Houston, TX.

Other bidders were:

FirstSouthwest, NIC 4.4841%

GMS Group, NIC 4.5273%

VIRGINIA

Arlington County

May 28, 2014 . . . . . . $40,455,000

General Obligation Refunding Bonds, Series 2014B (book entry).

Dated Jun 11, 2014.

Due Aug 15, 2021 to 2027.

Callable Aug 15, 2024 at par.

Winning bid: PNC Capital Markets, at 124.2762, TIC 2.2658%.

Due Amount Cpn Yield Conc Ins
8/15/21 $3,450,000 5.00% 1.66%
8/15/22 $5,405,000 5.00% 1.86%
8/15/23 $9,980,000 5.00% 2.02%
8/15/24 $9,965,000 5.00% 2.13%
8/15/25 $5,375,000 5.00% 2.25%
8/15/27 $6,280,000 5.00% 2.44%

L.O.: McGuireWoods LLP, Richmond, VA.

F.A.: Public Financial Management, Inc., Arlington, VA.

Other bidders were:

JPMorgan, TIC 2.3088%

BA Merrill Lynch, TIC 2.3163%

TD Securities, TIC 2.3237%

Citigroup, TIC 2.3279%

Wells Fargo Secs, TIC 2.3314%

Morgan Stanley, TIC 2.3377%

Robert W. Baird, TIC 2.3418%


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