Results of Competitive Sales

INDIANA

Union-North United School Building Corporation

Oct 20, 2008 . . . . . . $1,285,000

Bond Anticipation Notes of 2008.

Dated Oct 22, 2008.

Due Feb 1, 2009.

Purchased $1,285,000.00 by City Securities, at 5.0%, effective rate 5.0%.

L.O.: Ice Miller, Indianapolis, IN.

F.A.: Umbaugh LLP, Indianapolis, IN.

KANSAS

Maize (City)

Oct 20, 2008 . . . . . . $1,753,000

General Obligation Bonds Series B, 2008 (bank qualified) (book entry).

Dated Oct 15, 2008.

Due Sep 1, 2009 to 2028.

Callable Sep 1, 2013 at par.

Winning bid: Country Club Bank, at n/a, NIC 4.9743%.

Due Amount Cpn Yield Conc Ins
9/1/09 $78,000 5.00% NRO NRO
9/1/10 $75,000 5.00% NRO NRO
9/1/11 $80,000 5.00% NRO NRO
9/1/12 $80,000 5.00% NRO NRO
9/1/13 $85,000 5.00% NRO NRO
9/1/14 $85,000 3.90% NRO NRO
9/1/15 $90,000 4.10% NRO NRO
9/1/16 $95,000 4.20% NRO NRO
9/1/17 $95,000 4.30% NRO NRO
9/1/18 $100,000 4.40% NRO NRO
9/1/19 $105,000 4.60% NRO NRO
9/1/20 $110,000 4.70% NRO NRO
9/1/21 $120,000 4.80% NRO NRO
9/1/22 $120,000 4.90% NRO NRO
9/1/23 $130,000 5.00% NRO NRO
9/1/26 $175,000 5.25% NRO NRO
9/1/28 $130,000 5.50% NRO NRO

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

F.A.: Citycode Financial, LLC, Wichita, KS.

Other bidders were:

UMB Bank, NIC 5.2169%

Cooper Malone, NIC 5.3431%

MINNESOTA

Cologne (City)

Oct 20, 2008 . . . . . . $3,270,000

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

Dated Nov 1, 2008.

Due Feb 1, 2010 to 2029.

Callable Feb 1, 2018 at par.

Winning bid: BMO Capital Markets, at 98.7000, TIC 4.9748%.

Due Amount Cpn Yield Conc Ins
2/1/10 $25,000 4.75% NRO NRO AGC
2/1/11 $25,000 4.50% NRO NRO AGC
2/1/12 $95,000 4.375% NRO NRO AGC
2/1/13 $100,000 4.375% NRO NRO AGC
2/1/14 $110,000 4.75% NRO NRO AGC
2/1/15 $110,000 4.75% NRO NRO AGC
2/1/16 $115,000 4.875% NRO NRO AGC
2/1/17 $120,000 4.875% NRO NRO AGC
2/1/18 $120,000 4.875% NRO NRO AGC
2/1/19 $105,000 4.875% NRO NRO AGC
2/1/23 $460,000 4.50% NRO NRO AGC
2/1/26 $775,000 5.00% NRO NRO AGC
2/1/29 $1,110,000 4.875% NRO NRO AGC

L.O.: Briggs & Morgan, St. Paul, MN; and Briggs & Morgan, Minneapolis, MN.

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

Other bidders were:

Stifel Nicolaus, TIC 4.9893%

Piper Jaffray, TIC 5.1747%

Northland Securities, TIC 5.1943%

Menahga Independent School District No. 821

Oct 20, 2008 . . . . . . $315,000

General Obligation Capital Facilities Bonds, Series 2008B (Minnesota School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Nov 12, 2008.

Due Feb 1, 2010 to 2019.

Non-callable.

Winning bid: United Banker's Bk, at n/a, TIC 4.5094%.

Due Amount Cpn Yield Conc Ins
2/1/13 $110,000 3.90% 3.90%
2/1/16 $95,000 4.30% 4.30%
2/1/19 $110,000 4.55% 4.55%

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

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

Other bidders were:

Northland Securities, TIC 5.0836%

Menahga Independent School District No. 821

Oct 20, 2008 . . . . . . $1,955,000

General Obligation Alternative Facilities Bonds, Series 2008A (Minnesota School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Nov 12, 2008.

Due Feb 1, 2018 to 2022.

Callable Feb 1, 2018 at par.

Winning bid: Northland Securities, at n/a, TIC 4.4845%.

Due Amount Cpn Yield Conc Ins
2/1/18 $300,000 4.25% NRO NRO
2/1/19 $370,000 4.40% NRO NRO
2/1/20 $455,000 4.40% NRO NRO
2/1/21 $475,000 4.40% NRO NRO
2/1/22 $355,000 4.50% NRO NRO

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

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

Other bidders were:

Cronin & Co., TIC 4.7348%

Silverton Bank, TIC 4.74%

Vining-Sparks IBG, TIC 4.805%

Stifel Nicolaus, TIC 4.8228%

Sterne Agee, TIC 5.0441%

NORTH DAKOTA

Mandan Public School District No. 1

Oct 20, 2008 . . . . . . $520,000

General Obligation Building Fund Bonds of 2008 (bank qualified) (book entry).

Dated Nov 12, 2008.

Due May 1, 2009 to 2023.

Callable May 1, 2016 at par.

Winning bid: Wells Fargo Brkge, at n/a, TIC 4.7954%.

Due Amount Cpn Yield Conc Ins
5/1/13 $140,000 3.60% 3.60%
5/1/18 $165,000 4.50% 4.50%
5/1/23 $215,000 4.90% 4.90%

L.O.: Vogelpohl & Associates, Bismarck, ND.

F.A.: Public Financial Management, Inc., Minneapolis, MN.

Other bidders were:

Dougherty & Co, TIC 5.0345%

Northland Securities, TIC 5.2017%

TEXAS

Harris County Municipal Utility District No. 65

Oct 20, 2008 . . . . . . $2,785,000

Unlimited Tax Bonds, Series 2008 (bank qualified) (book entry).

Dated Nov 1, 2008.

Due Mar 1, 2010 to 2031.

Callable Mar 1, 2017 at par.

Winning bid: Morgan Keegan, at 97.0000, NIC 6.2749%.

Due Amount Cpn Yield Conc Ins
3/1/16 $365,000 5.15% NRO NRO AGC
3/1/20 $280,000 6.00% NRO NRO AGC
3/1/24 $350,000 6.00% NRO NRO AGC
3/1/27 $315,000 6.00% NRO NRO AGC
3/1/28 $350,000 6.05% NRO NRO AGC
3/1/29 $375,000 6.15% NRO NRO AGC
3/1/31 $750,000 6.25% NRO NRO AGC

L.O.: Young & Brooks, Houston, TX; and State Attorney General.

F.A.: First Southwest Company, Houston, TX.

Other bidders were:

Sterne Agee, NIC 6.2798%

Wachovia Securities, NIC 6.8224%

First Southwest, NIC 7.0215%

GMS Group, NIC 7.36%

WASHINGTON

King County

Oct 20, 2008 . . . . . . $48,435,000

Limited Tax General Obligation Bond Anticipation Notes, 2008 (book entry).

Dated Oct 30, 2008.

Due Mar 1, 2009.

Purchased $48,435,000.00 by Banc of America, at 3.0%, plus $166,616.40, effective rate 1.9765%.

L.O.: Gottlieb, Fisher & Andrews, PLLC, Seattle, WA.

F.A.: Seattle-Northwest Securities Corp., Seattle, WA.

Other bidders were:

Goldman Sachs, Effective Rate 1.9797%

Commerce Cap Mkts, Effective Rate 1.9801%

Citigroup, Effective Rate 1.9881%

Morgan Stanley, Effective Rate 2.0392%

Barclays Capital, Effective Rate 2.1103%

JPMorgan, Effective Rate 2.1194%

Merrill Lynch, Effective Rate 2.173%

WISCONSIN

Green Bay Area Public School District

Oct 20, 2008 . . . . . . $25,000,000

Tax and Revenue Anticipation Promissory Notes (book entry).

Dated Oct 24, 2008.

Due Jun 16, 2009.

Purchased $25,000,000.00 by J.P. Morgan Chase, at 3.35%, effective rate 3.35%.

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

F.A.: Robert W. Baird & Co., Inc., Milwaukee, WI.

Other bidders were:

Robert W. Baird, Effective Rate 3.8093%

St. Croix County

Oct 20, 2008 . . . . . . $3,180,000

General Obligation Promissory Notes, Series 2008A (bank qualified) (book entry).

Dated Nov 1, 2008.

Due Apr 1, 2010 to 2016.

Non-callable.

Winning bid: Robert W. Baird, at 101.4095, TIC 4.0245%.

Due Amount Cpn Yield Conc Ins
4/1/10 $295,000 4.00% 3.00%
4/1/11 $440,000 4.00% 3.25%
4/1/12 $455,000 4.25% 3.65%
4/1/13 $475,000 4.25% 3.80%
4/1/14 $485,000 4.375% 4.00%
4/1/15 $505,000 4.50% 4.15%
4/1/16 $525,000 4.50% 4.25%

Other managers: M & I Bank.

L.O.: Godfrey & Kahn, Milwaukee, WI.

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

Other bidders were:

BMO Capital Markets, TIC 4.0779%

UMB Bank, TIC 4.1194%

Stifel Nicolaus, TIC 4.3048%

Hutchinson Shockey, TIC 4.4348%

Bernardi Securities, TIC 4.5791%

TAXABLE ISSUES

MINNESOTA

Alexandria Independent School District No. 206

Oct 20, 2008 . . . . . . $7,910,000

General Obligation Taxable OPEB Bonds, Series 2008B (Minnesota School District Credit Enhancement Program) (book entry).

Dated Nov 1, 2008.

Due Feb 1, 2010 to 2029.

Callable Feb 1, 2018 at par.

Winning bid: BMO Capital Markets, at 98.7000, TIC 6.8773%.

Due Amount Cpn Yield Conc Ins
2/1/10 $30,000 6.00% NRO NRO
2/1/11 $235,000 6.00% NRO NRO
2/1/12 $245,000 6.00% NRO NRO
2/1/13 $260,000 6.00% NRO NRO
2/1/14 $270,000 6.00% NRO NRO
2/1/15 $290,000 6.25% NRO NRO
2/1/16 $305,000 6.25% NRO NRO
2/1/17 $325,000 6.25% NRO NRO
2/1/18 $345,000 6.25% NRO NRO
2/1/20 $750,000 6.375% NRO NRO
2/1/25 $2,350,000 6.75% NRO NRO
2/1/29 $2,505,000 7.00% NRO NRO

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

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

Other bidders were:

Northland Securities, TIC 7.0275%

Morgan Keegan, TIC 7.1084%

Raymond James, TIC 8.0628%

Staples-Motley Independent School District No. 2170

Oct 20, 2008 . . . . . . $1,010,000

General Obligation Taxable OPEB Bonds, Series 2008A (Minnesota School District Credit Enhancement Program) (book entry).

Dated Nov 1, 2008.

Due Feb 1, 2011 to 2020.

Callable Feb 1, 2019 at par.

Winning bid: BMO Capital Markets, at 99.0000, TIC 6.4338%.

Due Amount Cpn Yield Conc Ins
2/1/13 $245,000 5.75% NRO NRO
2/1/16 $285,000 6.00% NRO NRO
2/1/19 $350,000 6.25% NRO NRO
2/1/20 $130,000 7.00% NRO NRO

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

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

Other bidders were:

Morgan Keegan, TIC 6.563%

Northland Securities, TIC 6.5803%

Cronin & Co., TIC 6.6094%

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Competitive sales results
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