Results of Competitive Sales

CONNECTICUT

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Darien (Town)

Aug 28, 2014 . . . . . . $1,925,000

General Obligation Bond Anticipation Notes (book entry).

Dated Sep 10, 2014.

Due Sep 9, 2015.

Purchased $1,925,000.00 by Eastern Bk Cap Mkts, at 1.0%, plus $14,244.63, effective rate 0.259%.

L.O.: Pullman & Comley, Hartford, CT; and Pullman & Comley, Bridgeport, CT.

F.A.: Independent Bond & Investment Consultants (IBIC), Madison, CT.

Other bidders were:

Jefferies, Effective Rate 0.299%

TD Securities, Effective Rate 0.3021%

KANSAS

Sedgwick County Public Building Commission

Aug 27, 2014 . . . . . . $6,130,000

Refunding Revenue Bonds (Juvenile Justice Complex), Series 2014-1 (book entry).

Dated Sep 15, 2014.

Due Aug 1, 2017 to 2026.

Callable Aug 1, 2024 at par.

Winning bid: Stifel Nicolaus, at 107.6381, TIC 1.9959%.

Due Amount Cpn Yield Conc Ins
8/1/17 $505,000 5.00% 0.55%
8/1/18 $530,000 5.00% 0.81%
8/1/19 $555,000 5.00% 1.13%
8/1/20 $585,000 5.00% 1.43%
8/1/21 $615,000 1.50% 1.50%
8/1/22 $625,000 5.00% 1.92%
8/1/23 $655,000 2.25% 2.11%
8/1/24 $675,000 2.125% 2.20%
8/1/25 $685,000 2.25% 2.38%
8/1/26 $700,000 2.375% 2.473%

Other managers: FirstSouthwest, KeyBanc Capital Markets.

L.O.: Gilmore & Bell, Wichita, KS.

F.A.: Springsted Incorporated, St. Paul, MN.

Other bidders were:

Robert W. Baird, TIC 2.0517%

Raymond James, TIC 2.0633%

JPMorgan, TIC 2.0703%

Hutchinson Shockey, TIC 2.0857%

BMO Cap Mkts GKST, TIC 2.1016%

Sedgwick County Public Building Commission

Aug 27, 2014 . . . . . . $25,745,000

Refunding Revenue Bonds (Technical Education Complex), Series 2014-2 (book entry).

Dated Sep 15, 2014.

Due Aug 1, 2019 to 2028.

Callable Aug 1, 2024 at par.

Winning bid: Stifel Nicolaus, at 110.4665, TIC 2.3091%.

Due Amount Cpn Yield Conc Ins
8/1/19 $2,140,000 1.75% 1.17%
8/1/20 $2,175,000 5.00% 1.43%
8/1/21 $2,290,000 5.00% 1.69%
8/1/22 $2,400,000 5.00% 1.93%
8/1/23 $2,520,000 5.00% 2.11%
8/1/24 $2,645,000 5.00% 2.22%
8/1/25 $2,780,000 2.50% 2.38%
8/1/26 $2,860,000 2.50% 2.48%
8/1/27 $2,930,000 2.50% 2.60%
8/1/28 $3,005,000 3.00% 2.75%

Other managers: FirstSouthwest, KeyBanc Capital Markets.

L.O.: Gilmore & Bell, Wichita, KS.

F.A.: Springsted Incorporated, St. Paul, MN.

Other bidders were:

Raymond James, TIC 2.3406%

BMO Cap Mkts GKST, TIC 2.3601%

Robert W. Baird, TIC 2.3752%

Hutchinson Shockey, TIC 2.3834%

JPMorgan, TIC 2.3895%

Piper Jaffray, TIC 2.4232%

Wells Fargo Secs, TIC 2.445%

BA Merrill Lynch, TIC 2.4787%

Janney Montgomery, TIC 2.523%

KENTUCKY

Montgomery County School District Finance Corporation

Aug 28, 2014 . . . . . . $15,500,000

School Building Revenue Bonds, Series of 2014 (Kentucky State School District Credit Enhancement Program) (book entry).

Dated Sep 1, 2014.

Due Sep 1, 2015 to 2034.

Callable Sep 1, 2024 at par.

Winning bid: Robert W. Baird, at 98.2179, NIC 3.4127%.

Due Amount Cpn Yield Conc Ins
9/1/15 $180,000 3.00% 0.35%
9/1/16 $180,000 3.00% 0.50%
9/1/17 $180,000 3.00% 0.75%
9/1/18 $185,000 3.00% 1.00%
9/1/19 $190,000 3.00% 1.35%
9/1/20 $195,000 3.00% 1.70%
9/1/21 $200,000 3.00% 2.00%
9/1/22 $205,000 3.00% 2.30%
9/1/23 $875,000 3.00% 2.50%
9/1/24 $895,000 3.00% 2.70%
9/1/25 $1,020,000 3.00% 3.00%
9/1/26 $1,055,000 3.00% 3.05%
9/1/27 $1,095,000 3.00% 3.15%
9/1/28 $1,145,000 3.125% 3.25%
9/1/29 $1,190,000 3.25% 3.35%
9/1/30 $1,220,000 3.375% 3.45%
9/1/31 $1,290,000 3.375% 3.50%
9/1/32 $1,340,000 3.50% 3.55%
9/1/33 $1,405,000 3.50% 3.60%
9/1/34 $1,455,000 3.50% 3.65%

Other managers: CL King & Associates, Coastal Securities Corp., Edward D. Jones & Co., Crews & Associates, Inc., Loop Capital Markets, LLC, WNJ Capital, Duncan-Williams, Inc., Davenport & Company LLC, SAMCO Capital Markets, CastleOak Securities, L.P., FTN Financial Capital Markets, Isaak Bond Investments, Inc., Wedbush Securities Inc., Incapital LLC, Vining-Sparks IBG, Limited Partnership, Oppenheimer & Co., Inc., Southwest Securities, Inc., Alamo Capital, R. Seelaus & Co., Inc., First Kentucky Securities Corp., SumRidge Partners, LLC, Stifel, Nicolaus & Co., Inc., PNC Capital Markets, Wayne Hummer & Co., KeyBanc Capital Markets.

L.O.: Steptoe & Johnson PLLC, Louisville, KY.

F.A.: Ross, Sinclaire & Associates LLC, Lexington, KY.

Other bidders were:

Hutchinson Shockey, NIC 3.4177%

Rowan County School District Finance Corporation

Aug 28, 2014 . . . . . . $3,775,000

School Building Revenue Refunding Bonds, Series 2014 (Kentucky State School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Sep 1, 2014.

Due Feb 1, 2015 to 2030.

Callable Feb 1, 2025 at par.

Winning bid: Sterne Agee, at 99.7909, NIC 2.9304%.

Due Amount Cpn Yield Conc Ins
2/1/15 $130,000 2.00% 0.30% BAM
2/1/16 $130,000 2.00% 0.55% BAM
2/1/17 $145,000 2.00% 0.85% BAM
2/1/18 $155,000 2.00% 1.15% BAM
2/1/19 $160,000 2.00% 1.45% BAM
2/1/20 $165,000 2.00% 1.75% BAM
2/1/21 $175,000 2.50% 2.00% BAM
2/1/22 $190,000 2.50% 2.20% BAM
2/1/23 $200,000 2.75% 2.40% BAM
2/1/24 $225,000 2.75% 2.55% BAM
2/1/25 $305,000 2.75% 2.65% BAM
2/1/26 $320,000 3.00% 2.75% BAM
2/1/27 $345,000 3.00% 2.95% BAM
2/1/28 $355,000 3.00% 3.05% BAM
2/1/29 $380,000 3.15% 3.15% BAM
2/1/30 $395,000 3.25% 3.25% BAM

L.O.: Peck, Shaffer & Williams, Covington, KY.

F.A.: Ross, Sinclaire & Associates, Inc., Lexington, KY.

Other bidders were:

J.J.B. Hilliard, NIC 2.9429%

Robert W. Baird, NIC 2.9891%

Raymond James, NIC 3.0247%

Hutchinson Shockey, NIC 3.0406%

MICHIGAN

Oakland County

Aug 28, 2014 . . . . . . $8,800,000

Oakland County Farmington Hills Water Supply System Improvements Bonds, Series 2014 (book entry).

Dated Sep 1, 2014.

Due Oct 1, 2015 to 2034.

Callable Oct 1, 2021 at par.

Winning bid: FTN Fin Cap Mkts, at 99.8563, TIC 2.7985%.

Due Amount Cpn Yield Conc Ins
10/1/15 $275,000 2.00% 0.18%
10/1/16 $350,000 2.00% 0.45%
10/1/17 $350,000 2.00% 0.60%
10/1/18 $350,000 2.00% 0.87%
10/1/19 $375,000 2.00% 1.18%
10/1/20 $375,000 2.00% 1.50%
10/1/21 $400,000 2.00% 1.75%
10/1/22 $400,000 2.00% 2.00%
10/1/23 $400,000 2.125% 2.25%
10/1/24 $425,000 2.25% 2.40%
10/1/25 $425,000 3.00% 2.52%
10/1/26 $450,000 3.00% 2.65%
10/1/27 $475,000 3.00% 2.75%
10/1/28 $475,000 3.00% 2.85%
10/1/29 $500,000 3.00% 2.95%
10/1/30 $525,000 3.00% 3.00%
10/1/31 $525,000 3.00% 3.05%
10/1/32 $550,000 3.00% 3.10%
10/1/33 $575,000 3.00% 3.15%
10/1/34 $600,000 3.00% 3.20%

Other managers: Raymond James & Associates, Inc., Morgan Stanley & Co., Inc., Ramirez & Co., Inc..

L.O.: Dickinson Wright PLLC, Detroit, MI.

F.A.: Municipal Financial Consultants, Inc., Grosse Pointe Farms, MI.

Other bidders were:

Fifth Third Secs, TIC 2.9278%

Stifel Nicolaus, TIC 2.9391%

Piper Jaffray, TIC 2.9584%

William Blair, TIC 2.9971%

BA Merrill Lynch, TIC 3.0435%

Robert W. Baird, TIC 3.0544%

Hutchinson Shockey, TIC 3.2208%

MINNESOTA

Ellendale (City)

Aug 28, 2014 . . . . . . $1,085,000

General Obligation Improvement and Utility Revenue Bonds, Series 2014A (bank qualified) (book entry).

Dated Sep 1, 2014.

Due Feb 1, 2016 to 2030.

Callable Feb 1, 2021 at par.

Winning bid: D.A. Davidson, at 99.5296, NIC 3.3243%.

Due Amount Cpn Yield Conc Ins
2/1/16 $35,000 1.00% 1.00% 1/2
2/1/19 $185,000 1.50% 1.50% 1/2
2/1/23 $280,000 2.40% 2.40% 1
2/1/26 $230,000 3.00% 3.00% 1
2/1/30 $355,000 4.00% 3.50% 1

L.O.: Briggs & Morgan, St. Paul, MN.

F.A.: David Drown Associates, Minneapolis, MN.

Other bidders were:

Hutchinson Shockey, NIC 4.1519%

St. Michael-Albertville Independent School District #885

Aug 28, 2014 . . . . . . $59,275,000

General Obligation School Building Refunding Bonds, Series 2014A (Minnesota School District Credit Enhancement Program) (book entry).

Dated Sep 23, 2014.

Due Feb 1, 2015 to 2030.

Callable Feb 1, 2024 at par.

Winning bid: Wells Fargo Secs, at 105.6215, TIC 2.816%.

Due Amount Cpn Yield Conc Ins
2/1/15 $555,000 3.00% 0.16%
2/1/16 $90,000 2.00% 0.32%
2/1/17 $2,195,000 4.00% 0.60%
2/1/18 $2,380,000 4.00% 0.88%
2/1/19 $2,725,000 4.00% 1.18%
2/1/20 $3,090,000 4.00% 1.52%
2/1/21 $3,470,000 4.00% 1.82%
2/1/22 $3,735,000 4.00% 2.08%
2/1/23 $4,115,000 4.00% 2.25%
2/1/24 $4,030,000 4.00% 2.38%
2/1/25 $4,120,000 4.00% 2.50%
2/1/26 $5,900,000 4.00% 2.75%
2/1/27 $3,735,000 3.00% 3.00%
2/1/28 $6,005,000 3.00% 3.092%
2/1/29 $6,370,000 3.00% 3.174%
2/1/30 $6,760,000 3.00% 3.22%

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

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Piper Jaffray, TIC 2.839%

Robert W. Baird, TIC 2.9837%

JPMorgan, TIC 3.0321%

Citigroup, TIC 3.0347%

Morgan Stanley, TIC 3.0376%

NEW JERSEY

Buena Vista Township

Aug 28, 2014 . . . . . . $1,765,500

Bond Anticipation Notes (bank qualified).

Dated Sep 11, 2014.

Due Sep 10, 2015.

Purchased $1,765,500.00 by Janney Montgomery, at 1.0%, n/a effective rate n/a.

L.O.: Fleishman Daniels Law Office, P.C., Northfield, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Oppenheimer, Effective Rate 1.0887%

Chester Township

Aug 28, 2014 . . . . . . $708,800

Bond Anticipation Note (bank qualified).

Dated Sep 10, 2014.

Due Sep 10, 2015.

Purchased $708,800.00 by Peapack-Gladstone, at 0.64%, effective rate 0.64%.

L.O.: Hawkins, Delafield & Wood, Newark, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Passaic Vly Wtr Comm, Effective Rate 0.7999%

Roosevelt & Cross, Effective Rate 0.8833%

Janney Montgomery, Effective Rate 0.972%

TD Bank, N.A., Effective Rate 1.0%

PNC Bank, Effective Rate 1.06%

Oppenheimer, Effective Rate 1.1977%

NEW YORK

Bellerose Village

Aug 28, 2014 . . . . . . $300,000

Public Improvement Serial Bonds-2014 (bank qualified).

Dated Sep 10, 2014.

Due Sep 1, 2015 to 2028.

Callable Sep 1, 2022 at par.

Winning bid: Sage Rutty, at 100.0000, NIC 3.1991%.

Due Amount Cpn Yield Conc Ins
9/1/15 $20,000 2.125% 0.75%
9/1/16 $20,000 2.125% 1.05%
9/1/17 $20,000 2.125% 1.50%
9/1/18 $20,000 2.25% 1.70%
9/1/19 $20,000 2.375% 1.90%
9/1/20 $20,000 2.50% 2.10%
9/1/21 $20,000 2.625% 2.30%
9/1/22 $20,000 2.875% 2.55%
9/1/23 $20,000 3.125% 2.80%
9/1/24 $20,000 3.25% 3.00%
9/1/25 $25,000 3.50% 3.15%
9/1/26 $25,000 3.50% 3.20%
9/1/27 $25,000 3.625% 3.35%
9/1/28 $25,000 3.75% 3.45%

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

F.A.: Municipal Official(s).

Other bidders were:

Roosevelt & Cross, NIC 3.3753%

BNY Mellon Cap Mkts, NIC 3.5775%

Black River Village

Aug 28, 2014 . . . . . . $810,000

Bond Anticipation Note (bank qualified).

Dated Sep 11, 2014.

Due Sep 10, 2015.

Purchased $810,000.00 by Roosevelt & Cross, at 1.25%, plus $1,758.00, effective rate 1.0324%.

L.O.: Hrabchak, Gebo & Langone, P.C., Watertown, NY.

F.A.: Municipal Solutions, Inc., Canandaigua, NY.

Lewiston (Town)

Aug 28, 2014 . . . . . . $1,750,000

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

Dated Sep 11, 2014.

Due Sep 10, 2015.

Purchased $1,750,000.00 by First Niagara Bank, at 0.8%, effective rate 0.8%.

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

F.A.: Municipal Solutions, Inc., Canandaigua, NY.

Other bidders were:

Roosevelt & Cross, Effective Rate 0.9532%

Oppenheimer, Effective Rate 1.0913%

Mahopac Central School District

Aug 28, 2014 . . . . . . $500,000

Bond Anticipation Notes For School Buses - 2014 Series B (bank qualified).

Dated Sep 5, 2014.

Due Aug 6, 2015.

Purchased $500,000.00 by JPMorgan Chase, at 0.83%, effective rate 0.83%.

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

F.A.: Capital Markets Advisors, LLC, Hopewell Junction, NY.

Other bidders were:

Bank of Greene Co, Effective Rate 0.95%

Minoa Village

Aug 28, 2014 . . . . . . $1,162,977

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

Dated Sep 4, 2014.

Due Sep 4, 2015.

Purchased $1,162,980.00 by Roosevelt & Cross, at 1.25%, plus $4,734.00, effective rate 0.8429%.

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

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

Other bidders were:

Solvay Bank, Effective Rate 0.86%

JPMorgan Chase, Effective Rate 1.03%

Oppenheimer, Effective Rate 1.1178%

Northville Central School District

Aug 28, 2014 . . . . . . $113,000

School District Bonds, 2014 (bank qualified).

Dated Sep 18, 2014.

Due Jun 15, 2016 to 2019.

Non-callable.

Winning bid: Bank of Greene Co, at n/a, NIC 2.07%.

Due Amount Cpn Yield Conc Ins
6/15/16 $28,000 1.20% NRO
6/15/17 $25,000 1.60% NRO
6/15/18 $30,000 2.00% NRO
6/15/19 $30,000 2.65% NRO

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

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

Other bidders were:

Sage Rutty, NIC 2.0856%

Roosevelt & Cross, NIC 2.25%

NBT Bank, NIC 3.25%

Sag Harbor Union Free School District

Aug 28, 2014 . . . . . . $10,500,000

Tax Anticipation Notes for 2014 - 2015 Taxes.

Dated Sep 9, 2014.

Due Jun 26, 2015.

Purchased $10,500,000.00 by JPMorgan, at 1.0%, plus $71,715.00, effective rate 0.1433%.

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

F.A.: Capital Markets Advisors, LLC, Great Neck, NY.

Other bidders were:

TD Securities, Effective Rate 0.1483%

Jefferies, Effective Rate 0.2273%

Schalmont Central School District at Rotterdam

Aug 28, 2014 . . . . . . $845,000

Bond Anticipation Notes, 2014 Series B (bank qualified).

Dated Sep 9, 2014.

Due Sep 9, 2015.

Purchased $845,000.00 by Roosevelt & Cross, at 1.25%, plus $3,229.00, effective rate 0.8679%.

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

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

Other bidders were:

JPMorgan Chase, Effective Rate 0.88%

OKLAHOMA

Canadian County Independent School District No. 22 (Piedmont)

Aug 28, 2014 . . . . . . $4,300,000

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

Dated Nov 1, 2014.

Due Nov 1, 2016 to 2019.

Non-callable.

Winning bid: BOSC, at n/a, NIC 1.0949%.

Due Amount Cpn Yield Conc Ins
11/1/16 $700,000 1.00% 0.50%
11/1/17 $1,200,000 1.00% 0.75%
11/1/18 $1,200,000 1.00% 1.00%
11/1/19 $1,200,000 1.25% 1.25%

In association with: Bank of Oklahoma., F & M Bank.

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

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

Other bidders were:

Country Club Bank, NIC 1.1942%

First Bankers' Banc, NIC 1.2724%

UMB Bank, NIC 1.2842%

SOUTH CAROLINA

Richland County

Aug 28, 2014 . . . . . . $21,500,000

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

Dated Sep 11, 2014.

Due Mar 1, 2015 to 2019.

Non-callable.

Winning bid: JPMorgan, at 108.5431, TIC 0.6667%.

Due Amount Cpn Yield Conc Ins
3/1/15 $7,155,000 2.00% 0.11%
3/1/16 $3,665,000 4.00% 0.22%
3/1/17 $3,825,000 5.00% 0.43%
3/1/18 $4,030,000 5.00% 0.68%
3/1/19 $2,825,000 5.00% 0.98%

Other managers: Estrada Hinojosa & Company, Inc..

L.O.: McNair Law Firm, Columbia, SC; and Law Offices of Ernest W. Cromartie, III, LLC, Columbia, SC.

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

Other bidders were:

Morgan Stanley, TIC 0.6688%

Citigroup, TIC 0.6865%

PNC Capital Markets, TIC 0.7127%

Piper Jaffray, TIC 0.7147%

FirstSouthwest, TIC 0.7302%

Wells Fargo Secs, TIC 0.738%

BMO Cap Mkts GKST, TIC 0.7448%

Hutchinson Shockey, TIC 0.7677%

BA Merrill Lynch, TIC 0.7737%

Robert W. Baird, TIC 0.7833%

Janney Montgomery, TIC 0.8282%


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