Results of Competitive Sales

ARKANSAS

Russellville School District No. 14 of Pope County

Apr 26, 2011 . . . . . . $4,750,000

Refunding Bonds (Arkansas State School District Credit Enhancement Program) (bank qualified) (book entry).

Dated May 15, 2011.

Due Feb 1, 2012 to 2018.

Callable Aug 1, 2016 at par.

Winning bid: Ross Sinclaire, at 99.2447, TIC 1.9364%.

Due Amount Cpn Yield Conc Ins
2/1/12 $490,000 1.00% NRO NRO
2/1/13 $680,000 1.00% NRO NRO
2/1/14 $685,000 1.15% NRO NRO
2/1/15 $700,000 1.40% NRO NRO
2/1/16 $710,000 1.75% NRO NRO
2/1/17 $730,000 2.00% NRO NRO
2/1/18 $755,000 2.125% NRO NRO

L.O.: Friday Eldredge & Clark, Little Rock, AR.

F.A.: Stephens Inc., Little Rock, AR.

Other bidders were:

Crews & Associates, TIC 1.947%

Morgan Keegan, TIC 1.9539%

Raymond James, TIC 1.9964%

Stephens, TIC 2.0285%

Sterne Agee, TIC 2.0566%

IOWA

Asbury (City)

Apr 26, 2011 . . . . . . $3,000,000

General Obligation Corporate Purpose Bonds, Series 2011 (bank qualified) (book entry).

Dated May 1, 2011.

Due May 1, 2013 to 2031.

Callable May 1, 2017 at par.

Winning bid: Piper Jaffray, at 99.5636, TIC 3.5652%.

Due Amount Cpn Yield Conc Ins
5/1/13 $105,000 2.00% 0.85%
5/1/14 $110,000 2.00% 1.20%
5/1/15 $115,000 2.00% 1.60%
5/1/16 $120,000 2.00% 1.90%
5/1/17 $125,000 2.125% 2.20%
5/1/18 $130,000 2.375% 2.50%
5/1/19 $135,000 2.625% 2.75%
5/1/23 $600,000 3.25% NRO NRO
5/1/25 $340,000 3.50% 3.55%
5/1/27 $375,000 3.75% 3.75%
5/1/31 $845,000 4.00% NRO NRO

L.O.: Dorsey & Whitney, Des Moines, IA.

F.A.: Piper Jaffray & Company, Des Moines, IA.

Other bidders were:

BMO Capital Markets, TIC 3.6976%

Robert W. Baird, TIC 3.7027%

Hutchinson Shockey, TIC 3.7939%

Northland Securities, TIC 3.8092%

Coralville (City)

Apr 26, 2011 . . . . . . $13,255,000

General Obligation Urban Renewal Refunding Bonds Series 2011C (book entry).

Dated Apr 15, 2011.

Due Apr 15, 2013 to 2031.

Callable Apr 15, 2017 at par.

Winning bid: Morgan Keegan, at 99.6685, TIC 3.8952%.

Due Amount Cpn Yield Conc Ins
4/15/13 $525,000 2.00% NRO NRO
4/15/14 $545,000 2.00% NRO NRO
4/15/15 $560,000 3.00% NRO NRO
4/15/16 $575,000 3.00% NRO NRO
4/15/17 $595,000 3.00% NRO NRO
4/15/18 $610,000 3.00% 2.44%
4/15/19 $630,000 3.00% 2.78%
4/15/20 $650,000 3.00% 3.03%
4/15/21 $670,000 3.125% 3.21%
4/15/22 $695,000 3.25% NRO NRO
4/15/23 $715,000 4.00% 3.59%
4/15/24 $745,000 4.00% 3.75%
4/15/25 $775,000 4.00% 3.90%
4/15/26 $805,000 4.00% 4.00%
4/15/27 $835,000 4.00% 4.12%
4/15/28 $870,000 4.125% 4.23%
4/15/29 $925,000 4.25% 4.34%
4/15/30 $530,000 4.375% NRO NRO
4/15/31 $1,000,000 4.50% NRO NRO

Other managers: Robert W. Baird & Co., Inc., CL King & Associates, Duncan-Williams, Inc., Kildare Capital, Inc., Coastal Securities Corp., SAMCO Capital Markets, Crews & Associates, Inc., Davenport & Company LLC, Loop Capital Markets, LLC, Wedbush Securities Inc, Northern Trust Company, NW Capital Markets Inc., Cronin & Co., Inc., Edward D. Jones & Co..

L.O.: Dorsey & Whitney, Des Moines, IA.

F.A.: Piper Jaffray & Company, Des Moines, IA.

Other bidders were:

Piper Jaffray, TIC 3.9556%

Hutchinson Shockey, TIC 4.1029%

KENTUCKY

Franklin County Public Properties Corporation

Apr 26, 2011 . . . . . . $23,890,000

First Mortgage Revenue Bonds, Series 2011B (Justice Center Project).

Dated May 3, 2011.

Due Apr 1, 2012 to 2029.

Callable Apr 1, 2021 at par.

Winning bid: Robert W. Baird, at 99.0485, TIC 4.2622%.

Due Amount Cpn Yield Conc Ins
4/1/12 $1,125,000 3.00% NRO NRO
4/1/13 $1,055,000 3.00% NRO NRO
4/1/14 $1,085,000 3.00% NRO NRO
4/1/15 $1,120,000 3.00% NRO NRO
4/1/16 $1,155,000 3.00% NRO NRO
4/1/17 $1,190,000 3.00% NRO NRO
4/1/18 $1,225,000 3.00% NRO NRO
4/1/19 $1,260,000 3.25% NRO NRO
4/1/20 $1,305,000 4.00% NRO NRO
4/1/21 $1,355,000 4.00% NRO NRO
4/1/22 $1,410,000 4.00% NRO NRO
4/1/23 $1,465,000 4.00% NRO NRO
4/1/24 $1,525,000 4.25% NRO NRO
4/1/25 $1,590,000 4.375% NRO NRO
4/1/27 $3,395,000 4.50% NRO NRO
4/1/29 $2,630,000 5.00% NRO NRO

Other managers: Ross, Sinclaire & Associates, Inc., J.J.B. Hilliard, W.L. Lyons, Inc., Morgan Keegan, Coastal Securities Corp., Duncan-Williams, Inc., CL King & Associates, SAMCO Capital Markets, Crews & Associates, Inc., Kildare Capital, Inc., Loop Capital Markets, LLC, Stifel, Nicolaus & Co., Inc., Oppenheimer & Co., Inc., NW Capital Markets Inc..

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

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

Other bidders were:

Wells Fargo Secs, TIC 4.318%

JPMorgan, TIC 4.7449%

Jessamine County School District Finance Corporation

Apr 26, 2011 . . . . . . $4,815,000

School Building Refunding Revenue Bonds, Series of 2011 (bank qualified) (book entry).

Dated May 1, 2011.

Due Jun 1, 2012 to 2019.

Non-callable.

Winning bid: Raymond James, at 99.7973, NIC 2.3576%.

Due Amount Cpn Yield Conc Ins
6/1/12 $570,000 2.00% 0.65%
6/1/13 $565,000 2.00% 1.00%
6/1/14 $600,000 2.00% 1.35%
6/1/15 $585,000 2.00% 1.70%
6/1/16 $600,000 2.00% 2.00%
6/1/17 $620,000 2.25% 2.30%
6/1/18 $635,000 2.50% 2.55%
6/1/19 $640,000 2.75% 2.85%

L.O.: Henry M. Reed III, Louisville, KY.

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

Other bidders were:

Stifel Nicolaus, NIC 2.3837%

Ross Sinclaire, NIC 2.4439%

Morgan Keegan, NIC 2.5007%

Fifth Third Sec, NIC 2.6532%

Mayfield Electric Plant Board

Apr 26, 2011 . . . . . . $8,350,000

Electric System Revenue Bonds, Series 2011 (bank qualified) (book entry).

Dated May 11, 2011.

Due May 1, 2012 to 2036.

Callable May 1, 2021 at par.

Winning bid: J.J.B. Hilliard, at 98.3104, NIC 4.2658%.

Due Amount Cpn Yield Conc Ins
5/1/12 $290,000 1.50% NRO NRO AGM
5/1/13 $285,000 1.50% NRO NRO AGM
5/1/14 $290,000 1.60% NRO NRO AGM
5/1/15 $295,000 2.00% NRO NRO AGM
5/1/16 $300,000 2.25% NRO NRO AGM
5/1/17 $305,000 2.50% NRO NRO AGM
5/1/18 $315,000 2.80% NRO NRO AGM
5/1/19 $320,000 3.00% NRO NRO AGM
5/1/20 $330,000 3.30% NRO NRO AGM
5/1/21 $340,000 3.50% NRO NRO AGM
5/1/22 $355,000 3.60% NRO NRO AGM
5/1/23 $365,000 3.75% NRO NRO AGM
5/1/24 $380,000 3.85% NRO NRO AGM
5/1/25 $395,000 4.05% NRO NRO AGM
5/1/26 $410,000 4.15% NRO NRO AGM
5/1/28 $870,000 4.40% NRO NRO AGM
5/1/31 $830,000 4.60% NRO NRO AGM
5/1/36 $1,675,000 4.60% NRO NRO AGM

L.O.: Rubin & Hays, Louisville, KY.

F.A.: J.J.B. Hilliard, W.L. Lyons, Inc., Louisville, KY.

Other bidders were:

Robert W. Baird, NIC 4.5311%

Morgan Keegan, NIC 4.7766%

MASSACHUSETTS

Bourne (Town)

Apr 26, 2011 . . . . . . $965,000

General Obligation School Refunding Bonds (bank qualified) (book entry).

Dated May 1, 2011.

Due Jun 15, 2012 to 2016.

Non-callable.

Winning bid: Roosevelt & Cross, at 101.7692, TIC 1.4395%.

Due Amount Cpn Yield Conc Ins
6/15/12 $280,000 3.00% NRO NRO
6/15/13 $240,000 2.00% NRO NRO
6/15/14 $195,000 2.00% NRO NRO
6/15/15 $150,000 2.00% NRO NRO
6/15/16 $100,000 2.00% NRO NRO

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

F.A.: UniBank Fiscal Advisory Services, Inc., Whitinsville, MA.

Other bidders were:

Eastern Bk Cap Mkts, TIC 1.4647%

FirstSouthwest, TIC 1.587%

Fidelity Capital, TIC 1.7176%

Hampden-Wilbraham Regional School District

Apr 26, 2011 . . . . . . $915,000

General Obligation School Refunding Bonds (book entry).

Dated May 1, 2011.

Due Apr 1, 2012 to 2018.

Non-callable.

Winning bid: Roosevelt & Cross, at 100.3121, TIC 2.1342%.

Due Amount Cpn Yield Conc Ins
4/1/12 $200,000 2.00% NRO NRO
4/1/13 $170,000 2.00% NRO NRO
4/1/14 $150,000 2.00% NRO NRO
4/1/15 $130,000 2.00% NRO NRO
4/1/16 $110,000 2.00% NRO NRO
4/1/17 $90,000 2.50% NRO NRO
4/1/18 $65,000 3.00% NRO NRO

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

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

Other bidders were:

Fidelity Capital, TIC 2.453%

Eastern Bk Cap Mkts, TIC 2.4692%

Rutland (Town)

Apr 26, 2011 . . . . . . $649,500

Bond Anticipation Notes (bank qualified).

Dated May 6, 2011.

Due May 4, 2012.

Purchased $649,500.00 by People's United Bk, at 1.04%, effective rate 1.04%.

F.A.: First Southwest Company, Boston, MA.

Other bidders were:

Eastern Bk Cap Mkts, Effective Rate 1.15%

UniBank Fiscal Adv, Effective Rate 1.15%

Oppenheimer, Effective Rate 2.2376%

MINNESOTA

Faribault (City)

Apr 26, 2011 . . . . . . $1,855,000

General Obligation Equipment Certificates, Series 2011A (bank qualified) (book entry).

Dated May 19, 2011.

Due Feb 1, 2012 to 2021.

Callable Feb 1, 2019 at par.

Winning bid: United Banker's Bk, at n/a, TIC 2.4134%.

Due Amount Cpn Yield Conc Ins
2/1/12 $180,000 0.50% NRO NRO
2/1/13 $170,000 0.75% NRO NRO
2/1/14 $175,000 1.05% NRO NRO
2/1/15 $175,000 1.40% NRO NRO
2/1/16 $180,000 1.70% NRO NRO
2/1/17 $185,000 2.00% NRO NRO
2/1/18 $190,000 2.30% NRO NRO
2/1/19 $195,000 2.60% NRO NRO
2/1/20 $200,000 2.80% NRO NRO
2/1/21 $205,000 2.90% NRO NRO

L.O.: Kennedy & Graven, Minneapolis, MN.

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Robert W. Baird, TIC 2.4488%

Country Club Bank, TIC 2.4512%

Cronin, TIC 2.4759%

Vining-Sparks IBG, TIC 2.5204%

UMB Bank, TIC 2.5465%

M&I Marshall, TIC 2.5491%

Northland Securities, TIC 2.602%

Piper Jaffray, TIC 2.6163%

UBS Financial Svcs, TIC 2.6208%

Morrison County

Apr 26, 2011 . . . . . . $1,540,000

General Obligation Equipment Notes, Series 2011A (bank qualified) (book entry).

Dated May 1, 2011.

Due Feb 1, 2012 to 2021.

Callable Feb 1, 2015 at par.

Winning bid: United Banker's Bk, at n/a, NIC 2.4526%.

Due Amount Cpn Yield Conc Ins
2/1/12 $225,000 5.00% NRO NRO
2/1/13 $135,000 0.75% NRO NRO
2/1/14 $140,000 1.05% NRO NRO
2/1/15 $140,000 1.40% NRO NRO
2/1/16 $140,000 1.70% NRO NRO
2/1/17 $145,000 2.00% NRO NRO
2/1/18 $150,000 2.35% NRO NRO
2/1/19 $150,000 2.65% NRO NRO
2/1/20 $155,000 2.90% NRO NRO
2/1/21 $160,000 3.00% NRO NRO

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

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

Other bidders were:

Robert W. Baird, NIC 2.5504%

Northland Securities, NIC 2.6293%

Cronin, NIC 2.7166%

UBS Financial Svcs, NIC 2.7714%

Richfield (City)

Apr 26, 2011 . . . . . . $1,480,000

General Obligation Water Revenue Bonds, Series 2011A (MN Credit Enhancement Program) (bank qualified) (book entry).

Dated May 18, 2011.

Due Feb 1, 2013 to 2032.

Callable Feb 1, 2020 at par.

Winning bid: Northland Securities, at 99.2274, TIC 3.6808%.

Due Amount Cpn Yield Conc Ins
2/1/13 $55,000 2.00% 0.75%
2/1/14 $60,000 2.00% 1.15%
2/1/15 $60,000 2.00% 1.50%
2/1/16 $60,000 2.00% 1.80%
2/1/17 $60,000 2.15% 2.15%
2/1/18 $65,000 2.45% 2.45%
2/1/20 $130,000 2.90% 2.90%
2/1/22 $140,000 3.10% 3.10%
2/1/24 $145,000 3.45% 3.45%
2/1/26 $155,000 3.70% 3.70%
2/1/28 $170,000 3.85% 3.85%
2/1/30 $185,000 4.05% 4.05%
2/1/32 $195,000 4.15% 4.15%

L.O.: Kennedy & Graven, Minneapolis, MN.

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Cronin, TIC 3.7512%

Piper Jaffray, TIC 3.7668%

UBS Financial Svcs, TIC 3.8486%

United Banker's Bk, TIC 3.8537%

NEW JERSEY

Lambertville (City)

Apr 26, 2011 . . . . . . $6,446,550

Bond Anticipation Note (bank qualified).

Dated May 4, 2011.

Due May 4, 2012.

Purchased $6,446,550.00 by Janney Montgomery, at 2.25%, plus n/a, effective rate n/a.

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

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 2.209%

West Orange Township

Apr 26, 2011 . . . . . . $11,505,000

Bond Anticipation Note.

Dated May 2, 2011.

Due Jun 8, 2011.

Purchased $11,505,000.00 by Jefferies, at 0.75%, plus $1,841.00, effective rate 0.59%.

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

F.A.: Municipal Official(s).

Other bidders were:

TD Securities, Effective Rate 0.75%

Janney Montgomery, Effective Rate 1.06%

Oppenheimer, Effective Rate 1.89%

NEW YORK

Albion Village

Apr 26, 2011 . . . . . . $845,000

Public Improvement (Serial) Bonds, 2011 (bank qualified).

Dated May 10, 2011.

Due May 15, 2012 to 2025.

Non-callable.

Winning bid: Roosevelt & Cross, at n/a, NIC 4.1466%.

Due Amount Cpn Yield Conc Ins
5/15/12 $45,000 3.00% NRO NRO
5/15/13 $50,000 3.00% NRO NRO
5/15/14 $50,000 3.00% NRO NRO
5/15/15 $50,000 3.50% NRO NRO
5/15/16 $55,000 3.75% NRO NRO
5/15/17 $55,000 4.00% NRO NRO
5/15/18 $55,000 4.00% NRO NRO
5/15/19 $60,000 4.00% NRO NRO
5/15/20 $60,000 4.00% NRO NRO
5/15/21 $65,000 4.00% NRO NRO
5/15/22 $70,000 4.125% NRO NRO
5/15/23 $75,000 4.375% NRO NRO
5/15/24 $75,000 4.50% NRO NRO
5/15/25 $80,000 4.50% NRO NRO

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

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

East Bloomfield (Town)

Apr 26, 2011 . . . . . . $190,000

Public Improvement (Serial) Bonds, 2011 (bank qualified).

Dated May 11, 2011.

Due Sep 15, 2011 to 2035.

Non-callable.

Winning bid: Roosevelt & Cross, at n/a, NIC 5.5381%.

Due Amount Cpn Yield Conc Ins
9/15/11 $5,000 5.00% NRO NRO
9/15/12 $5,000 5.00% NRO NRO
9/15/13 $5,000 5.00% NRO NRO
9/15/14 $5,000 5.00% NRO NRO
9/15/15 $5,000 5.00% NRO NRO
9/15/16 $5,000 5.00% NRO NRO
9/15/17 $5,000 5.00% NRO NRO
9/15/18 $5,000 5.00% NRO NRO
9/15/19 $5,000 5.00% NRO NRO
9/15/20 $5,000 5.00% NRO NRO
9/15/21 $5,000 5.00% NRO NRO
9/15/22 $5,000 5.252% NRO NRO
9/15/23 $5,000 5.252% NRO NRO
9/15/24 $5,000 5.252% NRO NRO
9/15/25 $10,000 5.375% NRO NRO
9/15/26 $10,000 5.375% NRO NRO
9/15/27 $10,000 5.50% NRO NRO
9/15/28 $10,000 5.50% NRO NRO
9/15/29 $10,000 5.50% NRO NRO
9/15/30 $10,000 5.50% NRO NRO
9/15/31 $10,000 5.75% NRO NRO
9/15/32 $10,000 5.75% NRO NRO
9/15/33 $10,000 5.75% NRO NRO
9/15/34 $15,000 5.75% NRO NRO
9/15/35 $15,000 5.75% NRO NRO

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

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

Other bidders were:

Canandaigua NB&T, NIC 5.6%

Geneva (City)

Apr 26, 2011 . . . . . . $1,190,000

Public Improvement (Serial) Bonds, 2011 (bank qualified) (book entry).

Dated May 15, 2011.

Due May 15, 2012 to 2025.

Callable May 15, 2019 at par.

Winning bid: Roosevelt & Cross, at n/a, NIC 3.9416%.

Due Amount Cpn Yield Conc Ins
5/15/12 $85,000 3.75% NRO NRO
5/15/13 $85,000 3.75% NRO NRO
5/15/14 $85,000 3.75% NRO NRO
5/15/15 $85,000 3.75% NRO NRO
5/15/16 $85,000 3.75% NRO NRO
5/15/17 $85,000 3.75% NRO NRO
5/15/18 $85,000 3.75% NRO NRO
5/15/19 $85,000 3.75% NRO NRO
5/15/20 $85,000 3.75% NRO NRO
5/15/21 $85,000 4.00% NRO NRO
5/15/22 $85,000 4.00% NRO NRO
5/15/23 $85,000 4.00% NRO NRO
5/15/24 $85,000 4.125% NRO NRO
5/15/25 $85,000 4.25% NRO NRO

Other managers: UBS Financial Services, Inc., Ramirez & Co., Inc., Stifel, Nicolaus & Co., Inc., CL King & Associates.

L.O.: Harris Beach PLLC, Rochester, NY.

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

Other bidders were:

Bernardi Securities, NIC 4.069%

Ulster (Town)

Apr 26, 2011 . . . . . . $1,055,832

Bond Anticipation Notes, 2011 (Renewals) (bank qualified).

Dated May 4, 2011.

Due May 4, 2012.

Purchased $1,055,830.00 by JPMorgan Chase, at 1.08%, effective rate 1.08%.

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

F.A.: Munistat Services, Inc., Port Jefferson, NY.

Other bidders were:

Oppenheimer, Effective Rate 2.4649%

West Genesee Central School District

Apr 26, 2011 . . . . . . $5,000,000

Revenue Anticipation Notes, 2011 (bank qualified).

Dated May 4, 2011.

Due Dec 29, 2011.

Purchased $5,000,000.00 by FirstSouthwest, at 0.75%, plus $4,659.00, effective rate 0.6073%.

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

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

Other bidders were:

Jefferies & Company, Effective Rate 0.7855%

JPMorgan Chase, Effective Rate 0.82%

Janney Montgomery, Effective Rate 1.4546%

Oppenheimer, Effective Rate 1.5818%

First Niagara Bank, Effective Rate 1.85%

OHIO

Stow (City)

Apr 26, 2011 . . . . . . $8,475,000

General Obligation Various Purpose Bond Anticipation Notes, Series 2011 (Limited Tax Bonds) (bank qualified).

Dated May 5, 2011.

Due May 5, 2012.

Purchased $8,475,000.00 by TD Securities, at 1.5%, plus $70,528.95, effective rate 0.6678%.

L.O.: Squire, Sanders & Dempsey, Cleveland, OH.

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

Other bidders were:

George K. Baum, Effective Rate 0.671%

Huntington Invest, Effective Rate 0.6759%

First Merit, Effective Rate 0.699%

Robert W. Baird, Effective Rate 0.705%

Janney Montgomery, Effective Rate 0.816%

PNC Bank, Effective Rate 0.8322%

Oppenheimer, Effective Rate 1.008%

Jefferies & Company, Effective Rate 6990.0%

OREGON

Sherwood (City)

Apr 26, 2011 . . . . . . $2,305,000

General Obligation Refunding Bonds, Series 2011 (book entry).

Dated May 5, 2011.

Due Dec 1, 2011 to 2020.

Non-callable.

Winning bid: Southwest Securities, at 104.1582, TIC 2.3867%.

Due Amount Cpn Yield Conc Ins
12/1/11 $200,000 2.00% 0.35%
12/1/12 $210,000 2.00% 0.37%
12/1/13 $215,000 2.00% 0.75%
12/1/14 $220,000 2.00% 1.15%
12/1/15 $225,000 3.00% 1.55%
12/1/16 $230,000 3.00% 1.87%
12/1/17 $240,000 3.00% 2.20%
12/1/18 $245,000 3.00% 2.51%
12/1/19 $255,000 4.00% 2.83%
12/1/20 $265,000 4.00% 3.06%

Other managers: BOSC, Inc., Stifel, Nicolaus & Co., Inc., FirstSouthwest, BB&T Capital Markets.

L.O.: K&L Gates LLP, Portland, OR.

F.A.: Western Financial Group, LLC, Lake Oswego, OR.

Other bidders were:

Citigroup, TIC 2.5405%

Robert W. Baird, TIC 2.6508%

Incapital, TIC 2.6586%

Sherwood (City)

Apr 26, 2011 . . . . . . $14,165,000

Full Faith & Credit Obligations, Series 2011 (book entry).

Dated May 5, 2011.

Due Jun 1, 2013 to 2036.

Callable Jun 1, 2021 at par.

Winning bid: Robert W. Baird, at 99.1763, TIC 4.5791%.

Due Amount Cpn Yield Conc Ins
6/1/13 $385,000 2.00% NRO NRO AGM
6/1/14 $395,000 2.00% NRO NRO AGM
6/1/15 $400,000 2.00% NRO NRO AGM
6/1/16 $410,000 2.00% NRO NRO AGM
6/1/17 $415,000 3.00% NRO NRO AGM
6/1/18 $430,000 3.00% NRO NRO AGM
6/1/19 $440,000 4.00% NRO NRO AGM
6/1/20 $460,000 4.00% NRO NRO AGM
6/1/21 $480,000 4.00% NRO NRO AGM
6/1/23 $1,025,000 5.00% NRO NRO AGM
6/1/25 $1,120,000 4.00% NRO NRO AGM
6/1/26 $595,000 4.125% NRO NRO AGM
6/1/27 $620,000 4.25% NRO NRO AGM
6/1/28 $645,000 4.375% NRO NRO AGM
6/1/29 $670,000 4.375% NRO NRO AGM
6/1/30 $700,000 4.50% NRO NRO AGM
6/1/31 $735,000 4.625% NRO NRO AGM
6/1/36 $4,240,000 5.00% NRO NRO AGM

Other managers: CL King & Associates, Coastal Securities Corp., Edward D. Jones & Co., Davenport & Company LLC, SAMCO Capital Markets, Kildare Capital, Inc., Loop Capital Markets, LLC, William Blair & Company, LLC, Crews & Associates, Inc., Wedbush Securities Inc, NW Capital Markets Inc., Bernardi Securities, Inc., Cronin & Co., Inc., D.A. Davidson & Co..

L.O.: K&L Gates LLP, Portland, OR.

F.A.: Western Financial Group, LLC, Lake Oswego, OR.

Other bidders were:

Citigroup, TIC 4.6564%

BofA Merrill Lynch, TIC 4.936%

TEXAS

Arlington (City)

Apr 26, 2011 . . . . . . $25,600,000

Municipal Drainage Utility System Revenue Bonds, Series 2011 (book entry).

Dated Apr 15, 2011.

Due Jun 1, 2012 to 2031.

Callable Jun 1, 2021 at par.

Winning bid: Mesirow Financial, at 104.4487, TIC 3.6926%.

Due Amount Cpn Yield Conc Ins
6/1/12 $1,280,000 3.00% NRO NRO
6/1/13 $1,280,000 3.00% NRO NRO
6/1/14 $1,280,000 3.00% NRO NRO
6/1/15 $1,280,000 4.00% NRO NRO
6/1/16 $1,280,000 4.00% NRO NRO
6/1/17 $1,280,000 4.00% NRO NRO
6/1/18 $1,280,000 4.00% NRO NRO
6/1/19 $1,280,000 5.00% NRO NRO
6/1/20 $1,280,000 4.00% NRO NRO
6/1/21 $1,280,000 4.00% NRO NRO
6/1/22 $1,280,000 4.00% NRO NRO
6/1/23 $1,280,000 5.00% NRO NRO
6/1/24 $1,280,000 5.00% NRO NRO
6/1/25 $1,280,000 4.00% NRO NRO
6/1/26 $1,280,000 4.00% NRO NRO
6/1/27 $1,280,000 4.00% NRO NRO
6/1/28 $1,280,000 4.125% NRO NRO
6/1/29 $1,280,000 4.25% NRO NRO
6/1/30 $1,280,000 4.375% NRO NRO
6/1/31 $1,280,000 4.50% NRO NRO

L.O.: Vinson & Elkins, Dallas, TX; and State Attorney General.

F.A.: Estrada Hinojosa & Company, Inc., Dallas, TX.

Other bidders were:

Wells Fargo Secs, TIC 3.7023%

FirstSouthwest, TIC 3.7211%

Hutchinson Shockey, TIC 3.7311%

Piper Jaffray, TIC 3.7313%

RBC Capital Mkts, TIC 3.7618%

Citigroup, TIC 3.7794%

Morgan Keegan, TIC 3.7809%

JPMorgan, TIC 3.7888%

Morgan Stanley, TIC 3.7897%

BOSC, TIC 3.7995%

BofA Merrill Lynch, TIC 3.8085%

BMO Capital Markets, TIC 3.8562%

TAXABLE ISSUES

MICHIGAN

Saginaw County

Apr 26, 2011 . . . . . . $15,500,000

General Obligation Limited Tax Notes, Series 2011 (book entry).

Dated May 10, 2011.

Due Oct 1, 2011 to 2013.

Non-callable.

Winning bid: Morgan Keegan, at 100.0026, NIC 1.3005%.

Due Amount Cpn Yield Conc Ins
10/1/11 $3,000,000 1.50% NRO NRO
4/1/12 $5,000,000 1.50% 0.70%
10/1/12 $1,500,000 1.40% NRO NRO
4/1/13 $3,000,000 1.20% NRO NRO
10/1/13 $3,000,000 1.20% 1.45%

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

F.A.: Leonard Capital Markets, Grosse Pointe Farms, MI.

Other bidders were:

Comerica Securities, NIC 1.4044%

Stifel Nicolaus, NIC 1.4536%

UBS Financial Svcs, NIC 1.6315%

Bank of America, NIC 1.75%

Ramirez, NIC 1.8138%

Robert W. Baird, NIC 2.117%

BMO Capital Markets, NIC 2.8631%

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