Results of Competitive Sales

INDIANA

New Carlisle (Town)

Dec 17, 2013 . . . . . . $790,000

General Obligation Bonds of 2013 (bank qualified) (book entry).

Dated Dec 31, 2013.

Due Jul 1, 2015 to 2023.

Non-callable.

Winning bid: J.J.B. Hilliard, at n/a, NIC 3.7453%.

Due Amount Cpn Yield Conc Ins
7/1/16 $85,000 1.50% 1.50%
7/1/18 $180,000 2.25% 2.25%
7/1/20 $195,000 3.75% 3.50%
7/1/22 $215,000 4.00% 3.75%
7/1/23 $115,000 4.00% 4.00%

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

F.A.: H.J. Umbaugh & Associates, Indianapolis, IN.

Pike Township

Dec 5, 2013 . . . . . . $5,600,000

Emergency Loan Note of 2013 (book entry).

Dated Dec 20, 2013.

Due Jan 1, 2015 to 2017.

Non-callable.

Winning bid: Regions Bank, at n/a, NIC 1.83%.

Due Amount Cpn Yield Conc Ins
1/1/15 $1,840,000 1.83% NRO
1/1/16 $1,865,000 1.83% NRO
1/1/17 $1,895,000 1.83% NRO

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

F.A.: Crowe Horwath, Indianapolis, IN.

Whiteland (Town)

Dec 17, 2013 . . . . . . $1,180,000

Sewage Works Revenue Bonds, Series 2013B (bank qualified).

Dated Dec 27, 2013.

Due Mar 1, 2015 to 2023.

Callable Mar 1, 2021 at par.

Winning bid: J.J.B. Hilliard, at n/a, NIC 3.9262%.

Due Amount Cpn Yield Conc Ins
3/1/17 $170,000 1.75% 1.75%
3/1/21 $270,000 3.50% 3.50%
3/1/22 $365,000 3.75% 3.75%
3/1/23 $375,000 4.00% 4.00%

L.O.: Barnes & Thornburg LLP, Indianapolis, IN.

F.A.: London Witte Group, Indianapolis, IN.

Other bidders were:

City Securities, NIC 3.9899%

KANSAS

Valley Center (City)

Dec 17, 2013 . . . . . . $1,535,000

General Obligation Temporary Notes, Series 2014-1 (bank qualified) (book entry).

Dated Jan 8, 2014.

Due Dec 1, 2016.

Callable Jun 1, 2014 at par.

Winning bid: UMB Bank, at 99.7260, TIC 0.7959%.

Due Amount Cpn Yield Conc Ins
12/1/16 $1,535,000 0.70% 0.70%

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

F.A.: Piper Jaffray & Company, Leawood, KS.

Other bidders were:

Commerce Bank, TIC 0.8979%

Country Club Bank, TIC 0.921%

MINNESOTA

Prior Lake/Savage Area Schools Independent School District No. 719

Dec 18, 2013 . . . . . . $3,205,000

General Obligation Capital Facilities Bonds, Series 2014A (MN School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Jan 8, 2014.

Due Feb 1, 2015 to 2028.

Callable Feb 1, 2023 at par.

Winning bid: Raymond James, at 101.3416, TIC 2.558%.

Due Amount Cpn Yield Conc Ins
2/1/15 $205,000 2.00% 0.30%
2/1/16 $210,000 2.00% 0.55%
2/1/17 $210,000 2.00% 0.75%
2/1/18 $215,000 2.00% 1.05%
2/1/19 $215,000 2.00% 1.45%
2/1/20 $220,000 2.00% 1.75%
2/1/21 $220,000 2.00% 2.00%
2/1/22 $225,000 2.375% 2.20%
2/1/23 $230,000 2.50% 2.40%
2/1/24 $240,000 2.625% 2.50%
2/1/25 $245,000 3.00% 2.75%
2/1/26 $250,000 3.00% 2.90%
2/1/28 $520,000 3.50% 3.25%

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

F.A.: Ehlers, Roseville, MN.

Other bidders were:

FTN Fin Cap Mkts, TIC 2.6986%

Robert W. Baird, TIC 2.7338%

Sterne Agee, TIC 2.753%

MISSISSIPPI

Biloxi (City)

Dec 17, 2013 . . . . . . $14,000,000

General Obligation Bonds, Series 2014 (book entry).

Dated Jan 1, 2014.

Due Jan 1, 2015 to 2029.

Callable Jan 1, 2021 at par.

Winning bid: Duncan-Williams, at n/a, NIC 3.3709%.

Due Amount Cpn Yield Conc Ins
1/1/15 $755,000 3.00% 0.40%
1/1/16 $775,000 3.00% 0.65%
1/1/17 $800,000 3.00% 1.00%
1/1/18 $820,000 3.00% 1.40%
1/1/19 $845,000 3.00% 1.80%
1/1/20 $875,000 3.00% 2.20%
1/1/21 $900,000 3.00% 2.55%
1/1/22 $925,000 3.00% 2.80%
1/1/23 $955,000 3.00% 3.00%
1/1/24 $980,000 3.125% 3.20%
1/1/25 $1,010,000 3.25% 3.35%
1/1/26 $1,040,000 3.50% 3.50%
1/1/27 $1,075,000 4.00% 3.65%
1/1/28 $1,105,000 4.00% 3.85%
1/1/29 $1,140,000 4.00% 4.00%

L.O.: Page, Mannino, Peresich & McDermott PLLC, Biloxi, MS.

F.A.: Government Consultants, Inc., Jackson, MS.

Other bidders were:

Morgan Stanley, NIC 3.4%

Hutchinson Shockey, NIC 3.4842%

Piper Jaffray, NIC 3.5326%

NEW JERSEY

Little Falls Township

Dec 18, 2013 . . . . . . $5,170,000

Consisting of $3,600,000 Bond Anticipation Note, A $1,430,000 Tax Appeal Refunding Bond Anticipation Note and A $140,000 Special Emergency Note (bank qualified) (book entry).

Dated Dec 27, 2013.

Due Dec 19, 2014.

Purchased $5,170,000.00 by TD Securities, at 1.0%, plus $9,461.00, effective rate 0.812%.

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

F.A.: Municipal Official(s).

Other bidders were:

Jefferies, Effective Rate 0.819%

Oppenheimer, Effective Rate 0.9237%

Summit (City)

Dec 18, 2013 . . . . . . $9,286,400

Notes Consisting of $6,586,400 Bond Anticipation Notes and $2,700,000 Temporary Notes (book entry).

Dated Dec 31, 2013.

Due Dec 31, 2014.

Purchased $9,286,400.00 by BA Merrill Lynch, at 5.0%, plus $448,718.84, effective rate 0.168%.

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

F.A.: Acacia Financial Group, Inc., Marlton, NJ.

Other bidders were:

RBC Capital Mkts, Effective Rate 0.172%

TD Securities, Effective Rate 0.179%

PNC Capital Markets, Effective Rate 0.182%

Jefferies, Effective Rate 0.328%

Oppenheimer, Effective Rate 0.603%

NEW YORK

Amsterdam Enlarged City School District

Dec 18, 2013 . . . . . . $207,246

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

Dated Jan 2, 2014.

Due Nov 15, 2014 to 2018.

Non-callable.

Winning bid: Sage Rutty, at 100.0000, NIC 2.1315%.

Due Amount Cpn Yield Conc Ins
11/15/14 $37,246 2.00% 0.70%
11/15/15 $40,000 2.00% 1.10%
11/15/16 $40,000 2.00% 1.45%
11/15/17 $45,000 2.15% 1.75%
11/15/18 $45,000 2.25% 2.00%

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

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

Other bidders were:

Roosevelt & Cross, NIC 2.1629%

Hempstead Union Free School District

Dec 18, 2013 . . . . . . $11,000,000

Tax Anticipation Notes for 2013-2014 Taxes.

Dated Jan 9, 2014.

Due Jun 27, 2014.

Purchased $11,000,000.00 by Jefferies, at 1.0%, plus $36,412.00, effective rate 0.2907%.

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

F.A.: New York Municipal Advisors Corp. (NYMAC), Syosset, NY.

Other bidders were:

TD Securities, Effective Rate 0.3786%

TD Securities, Effective Rate 0.5286%

Oppenheimer, Effective Rate 0.76%

Marcellus Village

Dec 18, 2013 . . . . . . $1,509,500

Bond Anticipation Notes, 2014 (Renewals) Series A (bank qualified) (book entry).

Dated Jan 2, 2014.

Due Jan 2, 2015.

Purchased $1,509,500.00 by Solvay Bank, at 0.8%, effective rate 0.8%.

L.O.: Bond, Schoeneck & King, PLLC, Syracuse, NY.

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

Other bidders were:

Jefferies, Effective Rate 0.8989%

Roosevelt & Cross, Effective Rate 1.1011%

Oppenheimer, Effective Rate 1.2447%

Montgomery County

Dec 18, 2013 . . . . . . $1,734,650

Bond Anticipation Notes, 2014 (bank qualified).

Dated Jan 10, 2014.

Due Jan 9, 2015.

Purchased $1,734,650.00 by JPMorgan Chase, at 0.74%, effective rate 0.74%.

L.O.: Roemer, Wallens & Mineaux, LLP, Albany, NY.

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

Other bidders were:

Bank of America, Effective Rate 0.87%

Oppenheimer, Effective Rate 0.9231%

First Niagara Bank, Effective Rate 0.99%

Jefferies, Effective Rate 1.1717%

Roosevelt & Cross, Effective Rate 1.2042%

NBT Bank, Effective Rate 1.25%

Parish (Town)

Dec 17, 2013 . . . . . . $275,000

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

Dated Dec 23, 2013.

Due Mar 6, 2014.

Purchased $275,000.00 by Pathfinder Bank, at 3.0%, effective rate 3.0%.

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

TEXAS

Schertz-Cibolo-Universal City Independent School District

Dec 18, 2013 . . . . . . $26,080,000

Unlimited Tax School Building and Refunding Bonds, Series 2014 (book entry).

Dated Jan 1, 2014.

Due Feb 1, 2014 to 2044.

Callable Feb 1, 2022 at par.

Winning bid: BA Merrill Lynch, at 109.1806, NIC 3.4148%.

Due Amount Cpn Yield Conc Ins
2/1/14 $30,000 3.00% 0.12% PSF
2/1/15 $1,095,000 3.00% 0.23% PSF
2/1/16 $1,830,000 5.00% 0.39% PSF
2/1/17 $1,875,000 5.00% 0.62% PSF
2/1/18 $2,440,000 5.00% 0.93% PSF
2/1/19 $7,430,000 5.00% 1.31% PSF
2/1/20 $2,730,000 5.00% 1.74% PSF
2/1/21 $225,000 3.00% 2.20% PSF
2/1/22 $230,000 3.00% 2.54% PSF
2/1/23 $235,000 3.00% 2.82% PSF
2/1/24 $245,000 3.00% 3.05% PSF
2/1/25 $250,000 3.00% 3.20% PSF
2/1/26 $260,000 3.125% 3.37% PSF
2/1/27 $270,000 3.375% 3.56% PSF
2/1/28 $280,000 3.50% 3.68% PSF
2/1/29 $290,000 3.75% 3.80% PSF
2/1/30 $305,000 3.75% 3.92% PSF
2/1/31 $315,000 4.00% 4.00% PSF
2/1/32 $330,000 4.00% 4.06% PSF
2/1/33 $340,000 4.00% 4.12% PSF
2/1/34 $355,000 4.00% 4.18% PSF
2/1/35 $375,000 4.00% 4.24% PSF
2/1/36 $390,000 4.125% 4.29% PSF
2/1/37 $410,000 4.25% 4.34% PSF
2/1/38 $435,000 4.25% 4.37% PSF
2/1/44 $3,110,000 4.375% 4.48% PSF

L.O.: Fulbright & Jaworski, San Antonio, TX; and State Attorney General.

F.A.: SAMCO Capital Markets, San Antonio, TX.

Other bidders were:

Robert W. Baird, NIC 3.4299%

FirstSouthwest, NIC 3.4414%

Piper Jaffray, NIC 3.4736%

Frost Bank, NIC 3.5044%

Morgan Stanley, NIC 3.5079%

RBC Capital Mkts, NIC 3.5125%

Wells Fargo Secs, NIC 3.55%

BMO Cap Mkts GKST, NIC 3.6191%

Hutchinson Shockey, NIC 3.6237%

WISCONSIN

D.C. Everest Area School District

Dec 18, 2013 . . . . . . $9,995,000

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

Dated Jan 15, 2014.

Due Apr 1, 2014 to 2020.

Non-callable.

Winning bid: BOSC, at n/a, TIC 1.2208%.

Due Amount Cpn Yield Conc Ins
4/1/14 $205,000 1.00% 0.25%
4/1/15 $1,505,000 0.35% 0.35%
4/1/16 $1,520,000 1.00% 0.50%
4/1/17 $2,150,000 1.75% 0.80%
4/1/18 $2,615,000 2.00% 1.10%
4/1/19 $1,115,000 2.00% 1.40%
4/1/20 $885,000 2.00% 1.80%

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

F.A.: PMA Securities, Inc., Milwaukee, WI; and PMA Securities, Inc, Naperville, IL.

Other bidders were:

Robert W. Baird, TIC 1.245%

BMO Cap Mkts GKST, TIC 1.2751%

Piper Jaffray, TIC 1.2862%

FTN Fin Cap Mkts, TIC 1.3475%

Wells Fargo Secs, TIC 1.3931%

Stifel Nicolaus, TIC 1.4367%

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Competitive sales results
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