Results of Negotiated Bond Sales

<< Alabama State Industrial Development Authority (Birmingham), Dec. 28 - $3,000,000 - Weekly variable rate revenue (Well Built Cabinet, Inc.) bonds (Irrevocable Letter of Credit issued by AmSouth Bank of Alabama, Birmingham), book entry, dated Dec. 29, 1994, due Jan. 1, 2015. First coupon Feb. 1, 1995.

Purchased through negotiation by Merchants Capital Corp., initial rate not available.

L.O.: Maynard, Cooper & Gale, P.C., Birmingham.

CALIFORNIA

<< California Health Facilities Financing Authority (Sacramento), Sept. 1 - $7,140,000 - Health care facilities revenue (St. Paul's Episcopal Home) bonds, were purchased through negotiation by Ziegler Securities A Division of B.C. Ziegler & Co., NIC 6.410%.

L.O.: Orrick, Herrington & Sutcliffe, San Francisco.

<< Central Contra Costa Sanitary Dist., Calif., Sept. 8 - $10,000,000 - Tax and revenue anticipation notes, were purchased through negotiation by Sutro & Co. Inc., NIC 4.139%.

L.O.: Jones Hall Hill & White, San Francisco.

<< Elk Grove Unified Sch. Dist. (Sacramento Co.), Calif., Sept. 8 - $8,500,000 - Tax and revenue anticipation notes, were purchased through negotiation by Stone & Youngberg, NIC 4.031%.

L.O.: Orrick, Herrington & Sutcliffe, San Francisco.

<< Glendale Community College Dist. (Los Angeles Co.), Calif., July 19 - $5,000,000 - Tax and revenue anticipation notes, were purchased through negotiation by Saybrook Capital Corp., NIC 4.200%

L.O.: LeBoeuf, Lamb, Greene & MacRae, Los Angeles.

<< Modesto, Calif., Sept. 26 - $7,575,000 - Variable rate multifamily housing revenue (Live Oaks Apartments) bonds, were purchased through negotiation by PaineWebber Incorporated.

L.O.: Brown & Wood, Los Angeles.

<< Santa Rosa, Calif., Aug. 10 - $4,825,000 - Multifamily housing revenue refunding (Village Square Apartments) bonds, Series A, were purchased through negotiation by Pacific Commonwealth Corp., NIC 6.946%.

L.O.: Jones Hall Hill & White, San Francisco.

FLORIDA

<< North Springs Improvement Dist., Fla., Dec. 16 - $12,795,000 - Various water and sewer revenue refunding (MBIA Insured) bonds, Series 1994 A and B, dated Dec. 1, 1994. First coupon April 1, 1995. Callable Oct. 1, 2004 at 102, declining to par Oct. 1, 2006.

Purchased through negotiation by Prager, McCarthy & Sealy, as follows:

$8,550,000 Series A (general obligation), due Oct. 1, 1995 to 2004 and 2009, as follows:

$4,115,000 Serial, as 4.40s, 4.70s, 4.90s, 5.10s, 5.30s, 5.40s, 5.50s, 5.60s, 5.70s and 5.80s.

$4,435,000 Term, due 2009, as 7s.

$4,245,000 Series B, due Oct. 1, 1995 to 2009 and 2016, as follows:

$1,910,000 Serial, as 4.40s, 4.70s, 4.90s, 5.10s, 5.30s, 5.40s, 5.50s, 5.60s, 5.70s, 5.80s, 5.90s, 6s, 6.10s, 6.20s and 6.30s.

$2,335,000 Term, due 2016, as 6.50s.

L.O.: Whitman Breed Abbott & Morgan, New York.

Reoffered at 4.55, 4.85, 5.05, 5.25, 5.45, 5.55, 5.65, 5.75, 5.85, 5.95, 6.05, 6.15, 6.25, 6.35, 6.45 and 6.67%.

ILLINOIS

<< Arlington Heights Park Dist., Ill., Dec. 13 - $3,250,000 - General obligation park (bank qualified) bonds, Series 1994, dated Dec. 15, 1994, due Dec. 1, 1995 to 2001. First coupon June 1, 1995. Non-callable.

Purchased through negotiation by Bernardi Securities, Inc., as 8.50s (95-98), 6.375s, 6s and 6.10s.

L.O.: Chapman and Cutler, Chicago.

Reoffered at 5.30, 5.50, 5.60, 5.75, 5.90, 6.00 and 6.10.

<< Chicago, Ill., Dec. 21 - $23,000,000 - Tax increment allocation (Near South Redevelopment Project) bonds (Global book entry), Series 1994A, dated Dec. 1, 1994, due Nov. 15, 2013. First coupon May 15, 1995. Callable Nov. 15, 2004 at 102, declining to par Nov. 15, 2006.

Purchased through negotiation by Gardner Rich & Co., as 9.25s.

L.O.: Schiff Hardin & Waite and Carney & Brothers, Ltd., both of Chicago.

Reoffered at par.

<< Cook Co. Community Consolidated Sch. Dist. No. 168, Ill. (Chicago), Dec. 9 - $2,570,000 - General obligation school (bank qualified/book entry) bonds, Series 1994, dated Dec. 1, 1994, due Dec. 1, 2001 and 2005. First coupon June 1, 1995. Non-callable.

Purchased through negotiation by Mesirow Financial, Inc., as follows:

$660,000 Term, due 2001, as 7s.

$1,910,000 Term, due 2005, as 7.25s.

L.O.: Chapman and Cutler, Chicago.

Reoffered at par.

<< Dolton Sch. Dist. No. 148 (Cook Co.), Ill., Dec. 20 - $1,800,000 - General obligation school (bank qualified) bonds, dated Dec. 1, 1994, due Dec. 1, 1995 to 2001. First coupon June 1, 1995.

Purchased through negotiation by Banc One Capital Corp., as 9s (95-97), 8s, 6.30s, 6.40s and 6.50s.

L.O.: Chapman & Cutler, Chicago.

<< Illinois Development Finance Authority (Springfield), Oct. 27 - $21,435,000 - Debt restructuring revenue (City of East St. Louis) bonds (book entry), Series 1994, dated Oct. 15, 1994, due Nov. 15, 1995 to 1999, 2005, 2009, 2011 and 2013. First coupon May 15, 1995. Callable Nov. 15, 2004 at 102, declining to par Nov. 15, 2006.

Purchased through negotiation by Mesirow Financial, Inc. and Gardner, Rich & Co., as follows:

$3,285,000 Serial, as 4.80s, 5.30s, 5.55s, 5.85s and 6.05s.

$5,700,000 Term, due 2005, as 6.875s.

$5,400,000 Term, due 2009, as 7.25s.

$3,300,000 Term, due 2011, as 7.375s.

$3,750,000 Term, due 2013, as 7.50s.

L.O.: Holleb & Coff, Chicago.

Reoffered at 4.90, 5.40, 5.65, 5.95, 6.15, 7.00, 7.375, 7.50 and 7.65.

<< River Trails Park Dist., Ill., Nov. 8 - $1,000,000 - General obligation park (Alternate Revenue Source) bonds, Series 1994, dated Nov. 15, 1994, due March 1, 1999 and 2000. First coupon March 1, 1995. Callable March 1, 2001 at par.

Purchased through negotiation by Mesirow Financial, Inc., as 6s and 6.25s.

L.O.: Chapman and Cutler, Chicago.

Reoffered at par.

<< Roselle, Ill., Dec. 8 - $5,085,000 - Multi-family housing revenue refunding (GNMA Collateralized - Waterbury Apartments Project) bonds (book entry), Series 1994A, dated Dec. 15, 1994, due Jan. 1, 1996 to 2005 and 2025. First coupon July 1, 1995. Callable Jan. 1, 2005 at 102, declining to par Jan. 1, 2007.

Purchased through negotiation by Mesirow Financial, Inc., as follows:

$825,000 Serial, as 6.50s (96-05).

$4,260,000 Term, due 2025, as 7s.

L.O.: Carlson & Hug, Chicago.

Reoffered at par.

IOWA

<< Clare, Iowa, Dec. 20 - $65,000 - General obligation fire equipment (bank qualified) notes, dated Jan. 1, 1995, due June 1, 1996 to 2007. First coupon June 1, 1995. Callable June 1, 2004 at par.

Purchased through negotiation by Ruan Securities Corp., as 5.65s, 5.75s, 5.85s, 6s, 6.10s, 6.20s, 6.30s, 6.40s, 6.60s, 6.70s, 6.85s and 6.95s.

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

<< Titonka, Iowa, Dec. 27 - $160,000 - General obligation emergency services building (bank qualified) notes, dated Dec. 1, 1994, due June 1, 1996 to 2003. First coupon June 1, 1995. Callable June 1, 2001 at par.

Purchased through negotiation by Ruan Securities Corp., as 5.50s, 5.65s, 5.85s, 6s, 6.10s, 6.20s, 6.25s and 6.40s.

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

KANSAS

<< Atchison, Kan., Dec. 5 - $900,000 - Assisted living facility revenue (Medicalodges, Inc.) bonds (AMT), Series 1994, dated Dec. 1, 1994, due Dec. 1, 1996 to 2004, 2009 and 2014. First coupon June 1, 1995. Callable Dec. 1, 1999 at par.

Purchased through negotiation by Davidson Securities, Inc. and Riedl & Co., as follows:

$290,000 Serial, as 5.25s, 5.50s, 5.75s, 6s, 6.25s, 6.50s, 6.70s, 6.90s and 7s.

$255,000 Term, due 2009, as 7.25s.

$355,000 Term, due 2014, as 7.50s.

L.O.: Hinkle, Eberhart & Elkouri, L.L.C., Wichita.

Reoffered at par.

<< Sedgwick Co., Kan. (Wichita), Dec. 7 - $2,075,000 - Industrial revenue (Labelit Land Company,L.L.C. The Tenant-Moore Labels, Inc.- Subtenant) bonds, dated Dec. 1, 1994, due Dec. 1, 1995 to 2004 and 2009. First coupon June 1, 1995. Callable Dec. 1, 2000 at 102.

Purchased through negotiation by Chapman Securities, Inc., as follows:

$1,140,000 Serial, as 5.25s, 5.75s, 6s, 6.25s, 6.50s, 6.70s, 6.80s, 6.90s and 7s (03-04).

$935,000 Term, due 2009, as 7.50s.

L.O.: Gilmore & Bell, P.C., Wichita.

Reoffered at par.

<< Wichita, Kan., Dec. 15 - $2,500,000 - Industrial Revenue (Century Manufacturing, Inc.,) bonds (AMT), Series XVII, 1994, dated Dec. 1, 1994, due March 1, 1996 to 2005. First coupon March 1, 1995. Callable March 1, 2000 at par.

Purchased through negotiation by RIEDL & Co., as 5.50s, 6s, 6.25s, 6.50s, 6.75s, 7s, 7.25s, 7.50s, 7.75s and 8s.

L.O.: Hinkle, Eberhart & Elkouri, L.L.C., Wichita.

Reoffered at par.

LOUISIANA

<< Huntington Park Sewerage Dist., La., Nov. 22 - $603,660 - Sewerage (bank qualified) certificates, dated Jan. 1, 1995, due Sept. 1, 1995 to 2004. First coupon Sept. 1, 1995. Callable Sept. 1, 1996 at 104.

Purchased through negotiation by Morgan Keegan & Co., Inc., as 8s (95- 97), 7.60s, 7.40s, 7.35s, 7.30s and 7s (02-04).

L.O.: Charles Hamaker, Monroe.

MINNESOTA

<< Center Hospital Corporation (Hennepin Co.), Minn., Nov. 16 - $8,600,000 - Hospital lease revenue (bank qualified/book entry) bonds, Series 1994, dated Nov. 30, 1994, due June 1, 1995 to 1999. First coupon June 1, 1995. Non-callable.

Purchased through negotiation by Dain Bosworth Inc., as 5.05s (95-97), 5.25s and 5.40s.

L.O.: Faegre & Benson, Minneapolis.

Reoffered at 4.20, 4.85, 5.05, 5.25 and 5.40.

The above issue was reported under the erroneous caption of Hennepin Co., Minn. All details remain the same.

<< Minneapolis, Minn., Dec. 22 - $5,230,000 - Rental housing revenue (Driftwood Apartments Project) bonds (Irrevocable direct-pay Letter of Credit issued by First Bank National Association, Minneapolis) book entry, AMT, Series 1994 A, dated Dec. 29, 1994, due Nov. 1, 2024. First coupon May 1, 1995. Mandatory tender date Nov. 1, 1995.

Purchased through negotiation by Piper Jaffray Inc., initial rate as 5.40s.

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

Reoffered at par.

MISSOURI

<< Lincoln Co., Mo. (Troy), Dec. 1 - $248,800 - General obligation special assessment (bank qualified) bonds, Series 1994, dated Dec. 1, 1994, due March 1, 1996 to 2005. First coupon March 1, 1996. Callable March 1, 2002 at par.

Purchased through negotiation by Piper Jaffray Inc., as 5.40s, 5.50s, 5.60s, 5.70s, 5.80s, 5.90s, 6s, 6.10s, 6.20s and 6.25s.

L.O.: Gilmore & Bell, P.C., Kansas City.

NEW YORK

<< North Syracuse Housing Authority, N.Y., June 10 - $9,970,000 - Housing revenue (AJM Senior Housing, Inc., Janus Park Project) bonds (AMT), Series 1994, dated June 1, 1994, due June 1, 2014 and 2024. First coupon Dec. 1, 1994. Callable June 1, 2004 at 103, declining to par June 1, 2007.

Purchased through negotiation by First Albany Corp., as follows:

$2,000,000 Term, due 2014, as 8s.

$7,970,000 Term, due 2024, as 8s.

L.O.: Hiscock & Barclay, Syracuse.

Reoffered at 8.00 and 8.50.

NORTH DAKOTA

<< Mercer Co., N.D. (Stanton), Jan. 3 - $112,750,000 - Pollution control refunding revenue (Antelope Valley Station) bonds (book entry) Series 1995, dated Jan. 4, 1995, due June 30, 2013. First coupon June 30, 1995. Non-callable.

Purchased through negotiation by Morgan Stanley & Co. Inc., as 7.20s.

L.O.: Mudge Rose Guthrie Alexander & Ferdon, New York.

Reoffered at par.

OHIO

<< Cleveland City Sch. Dist., Ohio, Dec. 28 - $30,000,000 - Subordinated current revenue (Special Obligations) notes, book entry, Series 1994-95, dated Dec. 28, 1994, due Feb., March, April 15, 1995 and June 22, 1995. Non-callable.

Purchased through negotiation by McDonald & Company Securities, Inc., Banc One Capital Corp. and A.G. Edwards & Sons, Inc., at 7%.

L.O.: Squire, Sanders & Dempsey and Forbes, Forbes & Associates, both of Cleveland.

Reoffered at 8.00, 8.20, 8.30 and 8.40.

OKLAHOMA

<< Wynnewood City Utilities Authority, Okla., Dec. 16 - $1,820,000 - System revenue (bank qualified) bonds, dated Dec. 1, 1994, due Jan. 1, 1996 to 2015. First coupon July 1, 1995. Callable Jan. 1, 2005 at 102, declining to par Jan. 1, 2008.

Purchased through negotiation by James Baker & Associates, as 9.875s (96-97), 8.75s, 8.25s, 8s, 7.875s, 7.75s (02-05), 6.80s, 6.90s, 7s, 7.125s, 7.25s, 7.375s, 7.50s (12-13) and 7.375s (14-15).

L.O.: Paul Johanning, Oklahoma City.

Not reoffered.

OREGON

<< Centennial Sch. Dist. No. 28J (Multnomah Co.), Ore., July 1 - $1,610,000 - Tax and revenue anticipation (book entry) notes, Series 1994, dated July 1, 1994, due June 30, 1995. Non-callable.

Purchased through negotiation by United States National Bank of Oregon, Portland, as 3.70s.

L.O.: Stoel Rives Boley Jones & Grey.

Reoffered at par.

PENNSYLVANIA

<< Central York Sch. Dist., (York Co.) Pa., Jan. 9 - $4,995,000 - General obligation (FGIC Insured/bank qualified) bonds, Series of 1995, dated Feb. 15, 1995, due Oct. 1, 1996 to 2004. First coupon Oct. 1, 1995. Callable Oct. 1, 1999 at par.

Purchased through negotiation by Hopper Soliday & Co., Inc., as 4.75s, 5s, 5.15s, 5.30s, 5.45s, 5.60s, 5.70s, 5.80s and 5.90s.

L.O.: Stock & Leader, York.

Reoffered at par.

Concessions: 3/4 (96) and 1/4 (97-04).

<< Easton Area Sch. Dist. (Northampton Co.), Pa., Jan. 9 - $5,800,000 - General obligation (FGIC Insured/bank qualified) bonds, Series of 1995, dated Feb. 15, 1995, due Feb. 15, 1996 to 2004. First coupon Aug. 15, 1995. Callable Feb. 15, 2000 at par.

Purchased through negotiation by Hopper Soliday & Co., Inc., as 4.75s, 5s, 5.15s, 5.30s, 5.45s, 5.60s, 5.70s, 5.80s and 5.90s.

L.O.: Rhoads & Sinon, Harrisburg.

Reoffered at par.

Concessions: 1/2 (96) and 1/4 on the balance.

TENNESSEE

<< Shelby Co. Health Educational and Housing Facility Board, Tenn. (Memphis), Dec. 21 - $4,445,000 - Multifamily housing (Jackson Avenue Affordable Housing Project) revenue bonds, Series 1994A and C, dated Dec. 1, 1994. First coupon June 1, 1995. Callable Dec. 1, 2004 at 102, declining to par Dec. 1, 2007.

Purchased through negotiation by Miller & Schroeder Financial, Inc., and Chapman Co., as follows:

$3,800,000, Series 1994A, due Dec. 1, 2024, as 8.10s.

$645,000, Series 1994C (Subordinate), due Dec. 1, 2024, as 10s.

L.O.: Gerrish & McCreary, P.C., Memphis.

Reoffered at par.

VIRGIN ISLANDS

<< Virgin Islands Housing Finance Authority (St. Thomas), Dec. 22 - $27,000,000 - GNMA collateralized home mortgage revenue (AMT) bonds, book entry, 1994 Series B, dated Dec. 29, 1994, due Dec. 1, 2024. Initial tender date May 1, 1995.

Purchased through negotiation by Stephens Inc. and M.R. Beal & Co., initial rate as 5s.

L.O.: Kutak Rock, Washington, D.C.

Reoffered at par.

WASHINGTON

<< Thurston Co. Fire Protection Dist. No. 17, Wash. (Olympia), Dec. 19 - $384,000 - General obligation (bank qualified) bonds, 1994, dated Dec. 15, 1994, due Dec. 1, 1995 to 2014. First coupon Dec. 1, 1995. Callable Dec. 1, 2004 at par.

Purchased through negotiation by Pacific Crest Securities, as 5.35s, 5.50s, 5.75s, 6s (98-99), 6.20s (00-01), 6.40s (02-04), 6.70s (05-07), 7s (08-10) and 7.20s (11-14).

L.O.: Riddell, Williams, Bullitt & Walkinshaw, Seattle.

ILLINOIS

<< Roselle, Ill., Dec. 8 - $535,000 - Multi-family housing revenue refunding (GNMA Collateralized - Waterbury Apartments Project) bonds (book entry), Series 1994B (Taxable), dated Dec. 15, 1994, due Jan. 1, 2025. First coupon July 1, 1995. Callable Jan. 1, 2005 at 102, declining to par Jan. 1, 2007.

Purchased through negotiation by Mesirow Financial, Inc., as 7s.

L.O.: Carlson & Hug, Chicago.

TENNESSEE

<< Shelby Co. Health Educational and Housing Facility Board, Tenn. (Memphis), Dec. 21 - $200,000 - Multifamily housing revenue (Jackson Avenue Affordable Housing Project) bonds (Taxable), Series 1994B, dated Dec. 1, 1994, due Dec. 1, 1999. First coupon June 1, 1995. Non-callable.

Purchased through negotiation by Miller & Schroeder Financial, Inc. and Chapman Co., as 11s.

L.O.: Gerrish & McCreary, P.C., Memphis.