Results of Negotiated Sales

CALIFORNIA

California Statewide Communities Development Authority

Jun 21, 2013 . . . . . . $22,000,000

Multifamily Housing Revenue Bonds (St. Johns Apartments), 2013 Series F (book entry)

Dated Jun 26, 2013.

Due Feb 15, 2014 to Aug 15, 2030.

First coupon Aug 15, 2013.

Non-callable.

Purchased through negotiation by Citigroup Global Markets, Inc., as follows:

Due Amount Cpn Reoffered Ins
2/15/14 $110,000 0.70% 0.70% FNMA
8/15/14 $110,000 0.80% 0.80% FNMA
2/15/15 $110,000 0.95% 0.95% FNMA
8/15/15 $115,000 1.10% 1.10% FNMA
2/15/16 $115,000 1.40% 1.40% FNMA
8/15/16 $115,000 1.50% 1.50% FNMA
2/15/17 $115,000 1.80% 1.80% FNMA
8/15/17 $125,000 1.90% 1.90% FNMA
2/15/18 $120,000 2.20% 2.20% FNMA
8/15/18 $125,000 2.30% 2.30% FNMA
8/15/27 $2,950,000 4.20% 4.20% FNMA
8/15/30 $17,890,000 4.50% 4.50% FNMA

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

GEORGIA

Jeff Davis County School District

Jun 20, 2013 . . . . . . $4,770,000

General Obligation Bonds, Series 2013 (bank qualified) (book entry)

Dated Jul 24, 2013. Interest accrues Jul 24, 2013.

Due Dec 1, 2014 to 2023.

First coupon Dec 1, 2013.

Non-callable.

Purchased through negotiation by Raymond James & Associates, Inc., as follows:

Due Amount Cpn Reoffered Ins
12/1/14 $225,000 2.00% 0.43% SIP
12/1/15 $280,000 2.00% 0.60% SIP
12/1/16 $305,000 2.00% 0.91% SIP
12/1/17 $325,000 2.00% 1.20% SIP
12/1/18 $350,000 2.00% 1.45% SIP
12/1/19 $625,000 3.00% 1.75% SIP
12/1/20 $645,000 3.00% 2.00% SIP
12/1/21 $655,000 3.00% 2.25% SIP
12/1/22 $670,000 3.00% 2.45% SIP
12/1/23 $690,000 3.00% 2.60% SIP

L.O.: Gray Pannell & Woodward LLP, Savannah, GA.

ILLINOIS

T-L Rural Water District

Jun 21, 2013 . . . . . . $4,000,000

General Obligation Bonds, Series 2013 (Alternate Revenue Source) (bank qualified) (book entry)

Dated Jun 1, 2013.

Due May 1, 2014 to 2035.

First coupon May 1, 2014.

2026-2035 Callable May 1, 2025 at par.

Purchased through negotiation by First Midstate Incorporated, as follows:

Due Amount Cpn Reoffered Ins
5/1/14 $70,000 3.50% 1.15%
5/1/15 $135,000 3.25% 1.25%
5/1/16 $135,000 1.30% 1.30%
5/1/17 $140,000 1.55% 1.55%
5/1/18 $140,000 1.85% 1.85%
5/1/19 $145,000 2.15% 2.15%
5/1/20 $150,000 2.45% 2.45%
5/1/21 $150,000 2.65% 2.65%
5/1/22 $155,000 2.95% 2.95%
5/1/23 $160,000 3.15% 3.15%
5/1/24 $170,000 3.20% 3.20%
5/1/25 $175,000 3.30% 3.30%
5/1/28 $575,000 4.50% 3.90%
5/1/31 $660,000 4.75% 4.20%
5/1/32 $240,000 5.00% 4.20%
5/1/33 $255,000 5.00% 4.25%
5/1/34 $265,000 5.00% 4.30%
5/1/35 $280,000 5.00% 4.35%

L.O.: Chapman and Cutler, Chicago, IL.

MASSACHUSETTS

Massachusetts Educational Financing Authority

Jun 20, 2013 . . . . . . $222,035,000

Education Loan Revenue Bonds, Issue K, Series 2013 (book entry) (AMT)

Dated Jun 27, 2013.

Due Jul 1, 2015 to 2032.

First coupon Jan 1, 2014.

2023-2032 Callable Jul 1, 2022 at par.

Purchased through negotiation by Morgan Stanley & Co., Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, as follows:

Due Amount Cpn Reoffered Ins
7/1/15 $2,600,000 2.00% 1.35%
7/1/16 $1,580,000 3.00% 1.85%
7/1/17 $1,190,000 4.00% 2.20%
7/1/18 $8,540,000 5.00% 2.85%
7/1/19 $13,455,000 5.00% 3.25%
7/1/20 $14,735,000 5.00% 3.55%
7/1/21 $16,320,000 5.00% 3.90%
7/1/22 $17,895,000 5.00% 4.10%
7/1/23 $19,710,000 4.375% 4.50%
7/1/24 $20,815,000 4.50% 4.70%
7/1/25 $18,315,000 5.00% 5.00%
7/1/29 $80,595,000 5.25% 5.35%
7/1/32 $6,285,000 5.375% 5.45%

L.O.: Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA.

F.A.: Samuel A. Ramirez & Co., Inc., New York, NY.

MICHIGAN

Adams Township

Jun 21, 2013 . . . . . . $905,000

2013 Refunding Bonds (Limited Tax General Obligation) (bank qualified) (book entry)

Dated Jul 17, 2013.

Due Jun 1, 2014 to 2030.

First coupon Dec 1, 2013.

2024-2030 Callable Jun 1, 2023 at par.

Purchased through negotiation by Robert W. Baird & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
6/1/18 $235,000 2.00% 2.02%
6/1/22 $210,000 2.85% 2.85%
6/1/26 $240,000 4.00% 3.60%
6/1/30 $220,000 4.25% 4.40%

L.O.: Miller, Canfield, Paddock & Stone, P.L.C., Detroit, MI.

F.A.: Bendzinski & Company, Detroit, MI.

Pewamo-Westphalia Community Schools

Jun 20, 2013 . . . . . . $4,980,000

2013 School Building and Site Bonds, Series I (General Obligation) (Michigan School Bond Qualification and Loan Program) (bank qualified) (book entry) $4,240,000.

Dated Jul 18, 2013.

Due May 1, 2019 to 2041.

First coupon Nov 1, 2013.

2024-2041 Callable May 1, 2023 at par.

Purchased through negotiation by Fifth Third Securities, Inc., as follows:

Due Amount Cpn Reoffered Ins
5/1/19 $860,000 3.00% 1.90%
5/1/23 $640,000 3.00% 2.70%
5/1/25 $305,000 3.00% 3.05%
5/1/27 $310,000 4.00% 3.55%
5/1/29 $310,000 4.00% 3.85%
5/1/31 $310,000 4.00% 4.05%
5/1/34 $455,000 4.125% 4.30%
5/1/37 $450,000 4.25% 4.50%
5/1/41 $600,000 5.00% 4.50%

2013 Refunding Bonds (General Obligation) (Michigan School Bond Qualification and Loan Program) (book entry) $740,000.

Dated Jul 18, 2013. Interest accrues Jul 18, 2013.

Due May 1, 2017 to 2020.

First coupon Nov 1, 2013.

Non-callable.

Due Amount Cpn Reoffered Ins
5/1/17 $100,000 1.80% 1.80%
5/1/18 $100,000 2.05% 2.05%
5/1/19 $100,000 2.45% 2.45%
5/1/20 $440,000 2.75% 2.75%

L.O.: Thrun Law Firm, P.C., East Lansing, MI.

F.A.: H.J. Umbaugh & Associates, Lansing, MI.

MISSOURI

Kearney

Jun 21, 2013 . . . . . . $4,800,000

Refunding and Improvement Certificates of Participation, Series 2013 (bank qualified) (book entry)

Dated Jul 10, 2013.

Due Oct 1, 2013 to Apr 1, 2026.

First coupon Oct 1, 2013.

2020-2026 Callable Apr 1, 2020 at par.

Purchased through negotiation by Piper Jaffray & Company, as follows:

Due Amount Cpn Reoffered Ins
10/1/13 $175,000 2.00% 0.60%
4/1/14 $50,000 2.00% 0.80%
10/1/14 $50,000 2.00% 0.85%
4/1/15 $55,000 2.00% 1.05%
10/1/15 $55,000 2.00% 1.10%
4/1/16 $95,000 3.00% 1.40%
10/1/16 $80,000 3.00% 1.45%
4/1/17 $95,000 3.00% 1.70%
10/1/17 $90,000 3.00% 1.75%
4/1/18 $170,000 3.00% 2.10%
10/1/19 $505,000 2.50% 2.50%
10/1/20 $350,000 2.625% 2.70%
10/1/21 $355,000 3.00% 3.00%
10/1/22 $365,000 3.00% 3.20%
10/1/23 $585,000 3.25% 3.35%
10/1/24 $605,000 3.50% 3.55%
4/1/26 $1,120,000 4.00% 3.85%

L.O.: Gilmore & Bell, Kansas City, MO.

NEBRASKA

Douglas County Sanitary and Improvement District No. 453

Jun 20, 2013 . . . . . . $2,110,000

General Obligation Refunding Bonds, Series 2013 (bank qualified) (book entry)

Dated Aug 15, 2013. Interest accrues Aug 15, 2013.

Due Aug 15, 2018 to 2033.

First coupon Feb 15, 2014.

2019-2033 Callable Aug 15, 2018 at par.

Purchased through negotiation by Ameritas Investment Corp., Kuehl Capital Corp, as follows:

Due Amount Cpn Reoffered Ins
8/15/18 $75,000 1.60% 1.60%
8/15/19 $75,000 1.85% 1.85%
8/15/20 $75,000 2.15% 2.15%
8/15/21 $70,000 2.45% 2.45%
8/15/22 $75,000 2.75% 2.75%
8/15/23 $70,000 2.90% 2.90%
8/15/24 $75,000 3.10% 3.10%
8/15/25 $80,000 3.30% 3.30%
8/15/26 $80,000 3.45% 3.45%
8/15/27 $85,000 3.60% 3.60%
8/15/28 $90,000 3.75% 3.75%
8/15/29 $90,000 3.80% 3.80%
8/15/33 $1,170,000 4.05% 4.05%

L.O.: Baird, Holm, LLP, Omaha, NE.

NEW JERSEY

New Jersey Health Care Facilities Financing Authority

Jun 21, 2013 . . . . . . $47,555,000

Revenue and Refunding Bonds (Palisades Medical Center Obligated Group Issue, Series 2013) (book entry)

Dated Jul 2, 2013.

Due Jul 1, 2014 to 2043.

First coupon Jan 1, 2014.

2024-2043 Callable Jul 1, 2023 at par.

Purchased through negotiation by Morgan Stanley & Co., Inc., Cain Brothers & Co., Prager & Co., LLC, as follows:

Due Amount Cpn Reoffered Ins
7/1/14 $1,290,000 4.00% 1.55%
7/1/15 $1,340,000 4.00% 1.90%
7/1/16 $1,210,000 2.35% 2.35%
7/1/17 $1,415,000 5.00% 2.75%
7/1/18 $1,310,000 3.15% 3.15%
7/1/19 $1,355,000 3.60% 3.60%
7/1/20 $1,400,000 3.85% 3.85%
7/1/21 $1,450,000 4.20% 4.20%
7/1/22 $1,965,000 4.375% 4.40%
7/1/23 $2,055,000 4.50% 4.55%
7/1/26 $7,335,000 5.00% 5.05%
7/1/31 $13,525,000 5.25% 5.45%
7/1/43 $11,905,000 5.50% 5.80%

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

NEW YORK

Nassau County

Jun 20, 2013 . . . . . . $208,150,000

General Obligation Revenue Anticipation Notes, 2013 Series A (book entry) $153,150,000.

Dated Jun 26, 2013.

Due Mar 31, 2014.

First coupon Mar 31, 2014.

Non-callable.

Purchased through negotiation by J.P. Morgan Securities LLC, Ramirez & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
3/31/14 $153,150,000 2.00% 0.48%

General Obligation Revenue Anticipation Notes, 2013 Series B (book entry) $55,000,000.

Dated Jun 26, 2013.

Due Apr 30, 2014.

First coupon Apr 30, 2014.

Non-callable.

Due Amount Cpn Reoffered Ins
4/30/14 $55,000,000 2.00% 0.50%

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

F.A.: Public Financial Management, Inc., New York, NY.

Rockland County

Jun 20, 2013 . . . . . . $60,000,000

Revenue Anticipation Notes, 2013 Series B (General Obligation) (book entry)

Dated Jul 2, 2013. Interest accrues Jul 2, 2013.

Due Jun 27, 2014.

First coupon Jun 27, 2014.

Non-callable.

Purchased through negotiation by Oppenheimer & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
6/27/14 $60,000,000 1.75% 1.30%

L.O.: Harris Beach PLLC, New York, NY.

F.A.: Capital Markets Advisors, LLC, Great Neck, NY.

OHIO

Ashland City School District

Jun 21, 2013 . . . . . . $3,045,000

General Obligation (Limited Tax) Energy Conservation Improvement Refunding Bonds, Series 2013 (book entry)

Dated Jul 2, 2013.

Due Nov 1, 2013 to 2023.

First coupon Nov 1, 2013.

Non-callable.

Purchased through negotiation by Stifel, Nicolaus & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
11/1/13 $250,000 2.00% 0.58% OSDCE
11/1/14 $260,000 2.00% 0.68% OSDCE
11/1/15 $265,000 1.50% 0.81% OSDCE
11/1/16 $265,000 1.50% 1.10% OSDCE
11/1/17 $270,000 1.50% 1.43% OSDCE
11/1/18 $275,000 2.00% 1.72% OSDCE
11/1/19 $280,000 2.25% 2.09% OSDCE
11/1/20 $285,000 2.50% 2.39% OSDCE
11/1/21 $295,000 2.75% 2.69% OSDCE
11/1/22 $300,000 3.00% 2.93% OSDCE
11/1/23 $300,000 3.50% 3.09% OSDCE

L.O.: Squire, Sanders & Dempsey (US) LLP.

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

TEXAS

Austin (City)

Jun 20, 2013 . . . . . . $12,590,000

Special Assessment Revenue Bonds, Series 2013 (Estancia Hill Country Public Improvement District) (book entry)

Dated Jul 3, 2013.

Due Nov 1, 2015 to 2028.

First coupon Nov 1, 2013.

2024-2028 Callable Nov 1, 2023 at par.

Purchased through negotiation by Jefferies LLC, as follows:

Due Amount Cpn Reoffered Ins
11/1/18 $2,695,000 4.50% 4.50%
11/1/28 $9,895,000 6.00% 5.999%

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

Dallas and Fort Worth (Cities)

Jun 20, 2013 . . . . . . $242,000,000

Dallas/Fort Worth International Airport Joint Revenue Improvement Bonds, Series 2013C (book entry) (AMT)

Dated Jul 1, 2013. Interest accrues Jul 2, 2013.

Due Nov 1, 2034 to 2045.

First coupon Nov 1, 2013.

2034-2045 Callable Nov 1, 2022 at par.

Purchased through negotiation by Jefferies LLC, Siebert, Brandford, Shank & Co., LLC, Barclays Capital, Cabrera Capital Markets Inc., as follows:

Due Amount Cpn Reoffered Ins
11/1/38 $51,650,000 5.00% 5.125%
11/1/43 $133,750,000 5.125% 5.20%
11/1/45 $56,600,000 4.75% 4.75%

L.O.: McCall Parkhurst & Horton, Dallas, TX; Bracewell & Giuliani LLP, Dallas, TX; Newby Davis, PLLC, Fort Worth, TX; and State Attorney General.

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

Red River Health Facilities Development Corporation

Jun 20, 2013 . . . . . . $33,910,000

First Mortgage Revenue Senior Bonds, Series 2013A (Parkview on Hollybrook Project) (book entry) $27,480,000.

Dated Jun 1, 2013. Interest accrues Jul 1, 2013.

Due Jul 1, 2017 to 2048.

First coupon Jan 1, 2014.

2024-2048 Callable Jul 1, 2018 at 105.000%, declining to par Jul 1, 2023.

Purchased through negotiation by BB&T Capital Markets a division of BB&T Securities, LLC, M. E. Allison & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
7/1/33 $1,995,000 6.375% 6.50%
7/1/43 $12,390,000 7.25% 7.40%
7/1/48 $13,095,000 7.375% 7.50%

L.O.: McCall Parkhurst & Horton, Dallas, TX; and State Attorney General.

Tom Green County Cultural Education Facilities Finance Corporation

Jun 21, 2013 . . . . . . $12,055,000

Education Revenue Bonds (TLC Academy), Series 2013A (book entry) $10,670,000.

Dated Jun 27, 2013.

Due Aug 15, 2028 to 2043.

First coupon Aug 15, 2013.

2028-2043 Callable Aug 15, 2023 at par.

Purchased through negotiation by Oppenheimer & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
8/15/28 $4,030,000 7.00% 6.70%
8/15/43 $6,640,000 7.15% 7.75%

L.O.: Andrews Kurth LLP, Houston, TX; and State Attorney General.

F.A.: Government Capital Securities Corporation, Southlake, TX.

TAXABLE ISSUES

TEXAS

Red River Health Facilities Development Corporation

Jun 20, 2013 . . . . . . $33,910,000

First Mortgage Revenue Senior Bonds, Series 2013B (Parkview on Hollybrook Project) (book entry) (Taxable) $6,430,000.

Dated Jun 1, 2013. Interest accrues Jul 1, 2013.

Due Jul 1, 2016 to 2033.

First coupon Jan 1, 2014.

2024-2033 Callable Jul 1, 2018 at 105.000%, declining to par Jul 1, 2023.

Purchased through negotiation by BB&T Capital Markets a division of BB&T Securities, LLC, M. E. Allison & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
7/1/33 $6,430,000 8.10% 8.10%

L.O.: McCall Parkhurst & Horton, Dallas, TX; and State Attorney General.

Tom Green County Cultural Education Facilities Finance Corporation

Jun 21, 2013 . . . . . . $12,055,000

Education Revenue Bonds (TLC Academy), Series 2013B (book entry) (Taxable) $1,385,000.

Dated Jun 27, 2013.

Due Aug 15, 2020.

First coupon Aug 15, 2013.

Non-callable.

Purchased through negotiation by Oppenheimer & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
8/15/20 $1,385,000 8.50% 8.50%

L.O.: Andrews Kurth LLP, Houston, TX; and State Attorney General.

F.A.: Government Capital Securities Corporation, Southlake, TX.

WISCONSIN

Milwaukee County

Jun 20, 2013 . . . . . . $99,300,000

General Obligation Pension Refunding Bonds, Series 2013B (book entry) (Taxable)

Dated Jun 27, 2013.

Due Dec 1, 2014 to 2023.

First coupon Dec 1, 2013.

Non-callable.

Purchased through negotiation by RBC Capital Markets, Barclays Capital, as follows:

Due Amount Cpn Reoffered Ins
12/1/14 $9,225,000 0.577% 0.577%
12/1/15 $9,215,000 0.727% 0.727%
12/1/16 $9,305,000 1.282% 1.282%
12/1/17 $9,440,000 1.826% 1.826%
12/1/18 $9,640,000 2.126% 2.126%
12/1/19 $9,865,000 2.612% 2.612%
12/1/20 $10,145,000 2.812% 2.812%
12/1/21 $10,455,000 3.139% 3.139%
12/1/22 $10,810,000 3.339% 3.339%
12/1/23 $11,200,000 3.539% 3.539%

L.O.: Chapman and Cutler, Chicago, IL; and Emile Banks & Associates, LLC, Milwaukee, WI.

F.A.: Public Financial Management, Inc., Milwaukee, WI; and Peralta Garcia Solutions, LLC, Chicago, IL.

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Negotiated sales results
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