Results of Competitive Sales

INDIANA

North Newton School Building Corporation

Oct 30, 2008 . . . . . . $1,000,000

Bond Anticipation Notes (bank qualified).

Dated Nov 12, 2008.

Due Jun 30, 2009.

Purchased $1,000,000.00 by City Securities, at 4.75%, effective rate 4.75%.

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

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

NEW JERSEY

Bernards Township

Oct 22, 2008 . . . . . . $6,030,000

Bond Anticipation Notes (bank qualified) (book entry).

Dated Oct 30, 2008.

Due Oct 29, 2009.

Purchased $6,030,000.00 by Wachovia Bank, at 3.5%, plus $61,626.00, effective rate 2.4752%.

L.O.: McManimon & Scotland, Newark, NJ.

Other bidders were:

Commerce Cap Mkts, Effective Rate 3.3271%

Franklin Lakes Borough

Oct 22, 2008 . . . . . . $1,832,500

Bond Anticipation Notes (bank qualified) (book entry).

Dated Oct 30, 2008.

Due Oct 29, 2009.

Purchased $1,832,500.00 by Janney Montgomery, at 4.25%, plus n/a, effective rate n/a.

L.O.: Gibbons P.C., Newark, NJ.

Somerville Borough

Oct 22, 2008 . . . . . . $2,000,000

Bond Anticipation Notes (bank qualified) (book entry).

Dated Oct 30, 2008.

Due Oct 29, 2009.

Purchased $2,000,000.00 by Janney Montgomery, at 4.25%, plus n/a, effective rate n/a.

L.O.: Gibbons P.C., Newark, NJ.

WISCONSIN

Drummond Area School District

Oct 23, 2008 . . . . . . $450,000

Tax and Revenue Anticipation Promissory Notes (bank qualified) (book entry).

Dated Oct 30, 2008.

Due Oct 30, 2009.

Purchased $450,000.00 by Bankers' Bank, at 4.9%, effective rate 4.9%.

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

Marinette School District

Oct 30, 2008 . . . . . . $3,000,000

Tax and Revenue Anticipation Promissory Notes (bank qualified) (book entry).

Dated Nov 10, 2008.

Due Aug 7, 2009.

Purchased $3,000,000.00 by Robert W. Baird, at 3.75%, effective rate 3.75%.

L.O.: Davis & Kuelthau, S.C., Milwaukee, WI.

Ripon School District

Oct 20, 2008 . . . . . . $1,850,000

Tax and Revenue Anticipation Promissory Notes (bank qualified) (book entry).

Dated Oct 28, 2008.

Due Sep 30, 2009.

Purchased $1,850,000.00 by Robert W. Baird, at 4.16%, effective rate 4.16%.

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

Other bidders were:

M & I Bank, Effective Rate 4.25%

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Competitive sales results
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