Results of Competitive Sales

ILLINOIS

Normal Community Unit School District No. 5

Feb 27, 2017 . . . . . . $65,330,000

General Obligation Refunding School Bonds, Series 2017A (book entry).

Dated Mar 21, 2017.

Due Dec 1, 2017 to 2023.

Non-callable.

Winning bid: JPMorgan, at n/a, TIC 2.0206%.

Due Amount Cpn Yield Conc Ins
12/1/17 $90,000 2.00% 0.94%
12/1/18 $2,440,000 3.00% 1.13%
12/1/20 $7,280,000 4.00% 1.59%
12/1/21 $17,150,000 4.00% 1.79%
12/1/22 $18,600,000 4.00% 1.97%
12/1/23 $19,770,000 4.00% 2.22%

In association with: Hilltop Securities Inc., Estrada Hinojosa & Company, Inc.

In association with: Academy Securities Inc..

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

F.A.: PMA Securities, Inc, Naperville, IL.

Other bidders were:

Wells Fargo Secs, TIC 2.0245%

Morgan Stanley, TIC 2.0288%

Citigroup, TIC 2.0327%

Mesirow Financial, TIC 2.0431%

Robert W. Baird, TIC 2.1202%

Hutchinson Shockey, TIC 2.191%

MASSACHUSETTS

Canton (Town)

Feb 27, 2017 . . . . . . $8,085,000

General Obligation Municipal Purpose Loan of 2017 Bonds (bank qualified) (book entry).

Dated Mar 16, 2017.

Due Jun 15, 2018 to 2037.

Callable Jun 15, 2025 at par.

Winning bid: SunTrust Robinson, at 103.7169, TIC 2.5341%.

Due Amount Cpn Yield Conc Ins
6/15/18 $560,000 3.00% 1.00%
6/15/19 $560,000 3.00% 1.15%
6/15/20 $555,000 3.00% 1.30%
6/15/21 $555,000 3.00% 1.50%
6/15/22 $550,000 3.00% 1.65%
6/15/23 $445,000 3.00% 1.80%
6/15/24 $440,000 3.00% 1.90%
6/15/25 $440,000 3.00% 2.00%
6/15/26 $440,000 3.00% 2.10%
6/15/27 $440,000 3.00% 2.20%
6/15/28 $310,000 3.00% 2.25%
6/15/29 $310,000 3.00% 2.30%
6/15/30 $310,000 3.00% 2.40%
6/15/31 $310,000 3.00% 2.50%
6/15/32 $310,000 3.00% 2.60%
6/15/33 $310,000 3.00% 2.70%
6/15/34 $310,000 3.00% 2.80%
6/15/35 $310,000 3.00% 2.90%
6/15/36 $310,000 3.00% 3.00%
6/15/37 $310,000 3.00% 3.10%

Other managers: BOK Financial Securities, Stifel, Nicolaus & Co., Inc..

L.O.: Locke Lord LLP, Boston, MA.

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

Other bidders were:

Raymond James, TIC 2.5657%

Citigroup, TIC 2.5824%

Janney Montgomery, TIC 2.5833%

Robert W. Baird, TIC 2.6103%

FTN Fin Cap Mkts, TIC 2.6371%

UBS Financial Svcs, TIC 2.6445%

Northland Securities, TIC 2.6683%

Wells Fargo Secs, TIC 2.6722%

Fidelity Capital, TIC 2.7199%

MINNESOTA

Cass Lake Independent School District No. 115

Feb 27, 2017 . . . . . . $4,430,000

General Obligation Facilities Maintenance Bonds, Series 2017A (Minnesota School District Credit Enhancement Program) (bank qualified) (book entry).

Dated Mar 23, 2017.

Due Feb 1, 2019 to 2033.

Callable Feb 1, 2027 at par.

Winning bid: Robert W. Baird, at 102.6380, TIC 2.7199%.

Due Amount Cpn Yield Conc Ins
2/1/19 $135,000 3.00% 1.15%
2/1/20 $140,000 3.00% 1.35%
2/1/21 $145,000 3.00% 1.50%
2/1/22 $150,000 3.00% 1.65%
2/1/23 $155,000 3.00% 1.80%
2/1/24 $160,000 3.00% 2.00%
2/1/25 $165,000 3.00% 2.10%
2/1/26 $165,000 3.00% 2.20%
2/1/28 $355,000 3.00% 2.35%
2/1/29 $565,000 3.00% 2.45%
2/1/30 $600,000 3.00% 2.55%
2/1/31 $615,000 3.00% 2.65%
2/1/32 $635,000 3.00% 2.75%
2/1/33 $445,000 3.00% 2.85%

Other managers: CL King & Associates, Cronin & Co., Inc., Vining-Sparks IBG, Limited Partnership, Edward Jones, Fidelity Capital Markets, WNJ Capital, Crews & Associates, Inc., Davenport & Company LLC, Duncan-Williams, Inc., Ross, Sinclaire & Associates LLC, Dougherty & Company LLC, Loop Capital Markets, LLC, Bernardi Securities, Inc., Country Club Bank, Oppenheimer & Co., Inc., SumRidge Partners, LLC, R. Seelaus & Co., Inc., Sierra Pacific Securities, Isaak Bond Investments, Inc., Alamo Capital, IFS Securities, Rafferty Capital Markets LLC, First Empire Securities, W.H. Mell Associates, Inc., Wayne Hummer & Co., FMSbonds, Inc., First Kentucky Securities Corp., Central States Capital Markets, LLC, Wedbush Securities Inc., Midland Securities Ltd.

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

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Northland Securities, TIC 2.8647%

Elk River Independent School District No. 728

Feb 27, 2017 . . . . . . $14,520,000

General Obligation Facilities Maintenance Bonds, Series 2017A (MN SD Credit Enhancement Program) (book entry).

Dated Mar 23, 2017.

Due Feb 1, 2023 to 2030.

Callable Feb 1, 2026 at par.

Winning bid: Robert W. Baird, at 103.5239, TIC 2.6996%.

Due Amount Cpn Yield Conc Ins
2/1/23 $885,000 4.00% 1.85%
2/1/24 $1,455,000 4.00% 2.05%
2/1/25 $2,045,000 3.00% 2.22%
2/1/26 $1,480,000 3.00% 2.35%
2/1/27 $1,930,000 3.00% 2.50%
2/1/28 $1,855,000 3.00% 2.70%
2/1/29 $1,825,000 3.00% 2.85%
2/1/30 $3,045,000 3.00% 3.00%

Other managers: CL King & Associates, Cronin & Co., Inc., Edward Jones, Fidelity Capital Markets, Ross, Sinclaire & Associates LLC, WNJ Capital, Crews & Associates, Inc., Davenport & Company LLC, Loop Capital Markets, LLC, Oppenheimer & Co., Inc., R. Seelaus & Co., Inc., Duncan-Williams, Inc., Vining-Sparks IBG, Limited Partnership, IFS Securities, Country Club Bank, Sierra Pacific Securities, Alamo Capital, Bank of New York Mellon Capital Markets, LLC, Isaak Bond Investments, Inc., Wayne Hummer & Co., SumRidge Partners, LLC, W.H. Mell Associates, Inc., First Empire Securities, RBC Capital Markets, Wedbush Securities Inc., Rafferty Capital Markets LLC, UMB Bank, N.A.., Midland Securities Ltd, FMSbonds, Inc., First Kentucky Securities Corp..

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

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Northland Securities, TIC 2.7187%

JPMorgan, TIC 2.7278%

Hilltop Securities, TIC 2.7517%

BA Merrill Lynch, TIC 2.7691%

Jefferies, TIC 2.7786%

Piper Jaffray, TIC 2.786%

OKLAHOMA

Oklahoma County Independent School District No. 89 (Oklahoma City)

Feb 27, 2017 . . . . . . $9,000,000

Combined Purpose General Obligation Bonds of 2017 (book entry).

Dated Apr 1, 2017.

Due Jul 1, 2019 to 2022.

Non-callable.

Winning bid: Stifel Nicolaus, at 101.7813, TIC 1.7194%.

Due Amount Cpn Yield Conc Ins
7/1/19 $2,250,000 2.00% 1.27%
7/1/20 $2,250,000 3.00% 1.45%
7/1/21 $2,250,000 2.00% 1.62%
7/1/22 $2,250,000 2.00% 1.81%

Other managers: Isaak Bond Investments, Inc..

L.O.: The Public Finance Law Group PLLC, Oklahoma City, OK; and State Attorney General.

F.A.: BOK Financial Securities, Oklahoma City, OK.

Other bidders were:

Hutchinson Shockey, TIC 1.8346%

SOUTH CAROLINA

Chester Metropolitan District

Feb 27, 2017 . . . . . . $6,755,000

Waterworks System Improvement and Refunding Revenue Bonds, Series 2017 (bank qualified) (book entry).

Dated Mar 8, 2017.

Due Jun 1, 2018 to 2036.

Callable Jun 1, 2027 at par.

Winning bid: Northland Securities, at 102.2362, TIC 2.8725%.

Due Amount Cpn Yield Conc Ins
6/1/18 $370,000 3.00% 1.15% NPFGC
6/1/19 $380,000 3.00% 1.30% NPFGC
6/1/20 $390,000 3.00% 1.50% NPFGC
6/1/21 $405,000 3.00% 1.70% NPFGC
6/1/22 $415,000 3.00% 1.85% NPFGC
6/1/23 $430,000 3.00% 2.00% NPFGC
6/1/24 $440,000 3.00% 2.10% NPFGC
6/1/25 $275,000 3.00% 2.20% NPFGC
6/1/26 $285,000 3.00% 2.30% NPFGC
6/1/27 $295,000 3.00% 2.40% NPFGC
6/1/28 $300,000 3.00% 2.50% NPFGC
6/1/29 $310,000 3.00% 2.60% NPFGC
6/1/30 $320,000 3.00% 2.70% NPFGC
6/1/31 $330,000 3.00% 2.85% NPFGC
6/1/32 $340,000 3.00% 3.00% NPFGC
6/1/34 $710,000 3.25% 3.10% NPFGC
6/1/36 $760,000 3.50% 3.25% NPFGC

Other managers: Dougherty & Company LLC.

L.O.: Pope Flynn LLC, Columbia, SC.

F.A.: Compass Municpal Advisors, Columbia, SC.

Other bidders were:

Robert W. Baird, TIC 2.9632%

Wells Fargo Secs, TIC 2.9774%

TENNESSEE

Elizabethton (City)

Feb 27, 2017 . . . . . . $9,495,000

General Obligation Refunding and Improvement Bonds, Series 2017 (bank qualified) (book entry).

Dated Mar 10, 2017.

Due Sep 1, 2017 to 2036.

Callable Sep 1, 2024 at par.

Winning bid: FTN Fin Cap Mkts, at 100.7456, TIC 2.1841%.

Due Amount Cpn Yield Conc Ins
9/1/17 $375,000 2.00% 0.90%
9/1/18 $365,000 2.00% 1.00%
9/1/19 $800,000 2.00% 1.15%
9/1/20 $1,045,000 2.00% 1.30%
9/1/21 $1,035,000 2.00% 1.45%
9/1/22 $880,000 2.00% 1.60%
9/1/23 $935,000 2.00% 1.75%
9/1/24 $510,000 2.00% 1.90%
9/1/25 $475,000 2.05% 2.05%
9/1/26 $485,000 2.25% 2.05%
9/1/27 $495,000 2.10% 2.10%
9/1/28 $510,000 2.50% 2.15%
9/1/29 $520,000 2.50% 2.25%
9/1/32 $435,000 2.55% 2.55%
9/1/34 $305,000 2.75% 2.75%
9/1/36 $325,000 3.00% 3.00%

L.O.: Glankler Brown, PLLC, Memphis, TN.

F.A.: Raymond James & Associates, Inc., Nashville, TN.

Other bidders were:

Cantor Fitzgerald, TIC 2.2361%

Robert W. Baird, TIC 2.3661%

Wells Fargo Secs, TIC 2.4%

Morgan Stanley, TIC 2.4728%

SunTrust Robinson, TIC 2.5132%

Northland Securities, TIC 2.5334%

TEXAS

Harris County Municipal Utility District No. 82

Feb 27, 2017 . . . . . . $3,915,000

Unlimited Tax Bonds, Series 2017A (bank qualified) (book entry).

Dated Mar 1, 2017.

Due Oct 1, 2018 to 2037.

Callable Oct 1, 2024 at par.

Winning bid: Raymond James, at 97.6117, NIC 3.4295%.

Due Amount Cpn Yield Conc Ins
10/1/18 $50,000 2.00% 1.35% NPFGC
10/1/19 $50,000 2.00% 1.50% NPFGC
10/1/20 $50,000 2.00% 1.65% NPFGC
10/1/21 $50,000 3.00% 1.85% NPFGC
10/1/22 $50,000 3.00% 2.00% NPFGC
10/1/23 $50,000 3.00% 2.15% NPFGC
10/1/24 $50,000 3.00% 2.40% NPFGC
10/1/27 $225,000 3.00% 2.65% NPFGC
10/1/29 $250,000 3.00% 2.90% NPFGC
10/1/32 $340,000 3.25% 3.30% NPFGC
10/1/33 $550,000 3.25% 3.35% NPFGC
10/1/34 $550,000 3.25% 3.45% NPFGC
10/1/35 $550,000 3.375% 3.50% NPFGC
10/1/36 $550,000 3.375% 3.55% NPFGC
10/1/37 $550,000 3.375% 3.60% NPFGC

L.O.: Allen Boone Humphries Robinson LLP, Houston, TX; and State Attorney General.

F.A.: FirstSouthwest, a Division of Hilltop Securities Inc., Houston, TX.

Other bidders were:

SAMCO Cap Mkts, NIC 3.446%

Robert W. Baird, NIC 3.5211%

BOK Fin Secs, NIC 3.5455%

Northland Securities, NIC 3.5777%

RBC Capital Mkts, NIC 3.6029%

Huffman Independent School District

Feb 27, 2017 . . . . . . $2,605,000

Unlimited Tax Refunding Bonds Series 2017B (book entry).

Dated Mar 1, 2017.

Due Feb 15, 2019 to 2024.

Non-callable.

Winning bid: Hilltop Securities, at n/a, TIC 2.0901%.

Due Amount Cpn Yield Conc Ins
2/15/19 $380,000 4.00% 1.18%
2/15/20 $400,000 4.00% 1.42%
2/15/21 $425,000 4.00% 1.63%
2/15/22 $450,000 4.00% 1.87%
2/15/23 $465,000 5.00% 2.10%
2/15/24 $485,000 5.00% 2.32%

Other managers: UBS Financial Services, Inc., Benchmark Securities, LLC.

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

F.A.: U.S. Capital Advisors LLC, Houston, TX.

Other bidders were:

Raymond James, TIC 2.0975%

Robert W. Baird, TIC 2.1158%

Citigroup, TIC 2.1398%

WISCONSIN

Whitewater Unified School District

Feb 27, 2017 . . . . . . $23,500,000

General Obligation School Building and Improvement Bonds (book entry).

Dated Apr 3, 2017.

Due Apr 1, 2018 to 2037.

Callable Apr 1, 2026 at par.

Winning bid: UBS Financial Svcs, at 102.9821, TIC 3.2661%.

Due Amount Cpn Yield Conc Ins
4/1/18 $1,150,000 4.00% 0.93% AGM
4/1/19 $545,000 4.00% 1.14% AGM
4/1/20 $1,040,000 5.00% 1.35% AGM
4/1/21 $775,000 5.00% 1.54% AGM
4/1/22 $800,000 4.00% 1.82% AGM
4/1/23 $840,000 5.00% 1.95% AGM
4/1/24 $450,000 5.00% 2.15% AGM
4/1/25 $1,080,000 5.00% 2.33% AGM
4/1/26 $1,135,000 5.00% 2.45% AGM
4/1/27 $1,195,000 5.00% 2.55% AGM
4/1/28 $1,250,000 4.00% 2.75% AGM
4/1/29 $1,295,000 3.00% 3.00% AGM
4/1/30 $1,335,000 3.00% 3.10% AGM
4/1/31 $1,375,000 3.00% 3.15% AGM
4/1/32 $1,415,000 3.125% 3.25% AGM
4/1/33 $1,465,000 3.25% 3.35% AGM
4/1/34 $1,510,000 3.25% 3.40% AGM
4/1/35 $1,560,000 3.25% 3.45% AGM
4/1/36 $1,615,000 3.375% 3.50% AGM
4/1/37 $1,670,000 3.375% 3.55% AGM

Other managers: Hilltop Securities Inc., Benchmark Securities, LLC.

In association with: Wiley Bros.-Aintree Capital LLC.

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

F.A.: Robert W. Baird & Co., Inc., Milwaukee, WI.

Other bidders were:

Piper Jaffray, TIC 3.3162%

Citigroup, TIC 3.3199%

Hutchinson Shockey, TIC 3.3211%

Janney Montgomery, TIC 3.3325%

BA Merrill Lynch, TIC 3.3418%

JPMorgan, TIC 3.3667%

Raymond James, TIC 3.3724%

Fifth Third Secs, TIC 3.4027%

Wisconsin Indianhead Technical College District

Feb 27, 2017 . . . . . . $6,545,000

General Obligation Promissory Notes, Series 2017A (bank qualified) (book entry).

Dated Mar 21, 2017.

Due Oct 1, 2018 to 2026.

Callable Oct 1, 2025 at par.

Winning bid: UMB Bank, at 101.9316, TIC 1.8016%.

Due Amount Cpn Yield Conc Ins
10/1/18 $100,000 1.50% 0.90%
10/1/19 $125,000 1.50% 1.15%
10/1/20 $1,075,000 2.00% 1.30%
10/1/21 $1,400,000 2.00% 1.45%
10/1/22 $1,805,000 2.00% 1.65%
10/1/23 $495,000 2.25% 1.80%
10/1/24 $505,000 2.25% 1.95%
10/1/25 $515,000 2.50% 2.05%
10/1/26 $525,000 2.50% 2.10%

L.O.: Michael, Best & Friedrich, Milwaukee, WI.

F.A.: PMA Securities, Inc., Milwaukee, WI.

Other bidders were:

Northland Securities, TIC 1.8415%

BOK Fin Secs, TIC 1.8416%

Citigroup, TIC 1.846%

Robert W. Baird, TIC 1.8776%

Raymond James, TIC 1.8901%

Wells Fargo Secs, TIC 1.8955%

TAXABLE ISSUES

ILLINOIS

Morris Community High School District Number 101

Feb 27, 2017 . . . . . . $1,690,000

Taxable General Obligation School Bonds, Series 2017 (book entry).

Dated Mar 20, 2017.

Due Feb 1, 2018 to 2019.

Non-callable.

Winning bid: Fifth Third Secs, at 103.0801, TIC 1.7735%.

Due Amount Cpn Yield Conc Ins
2/1/18 $40,000 3.00% 1.25%
2/1/19 $1,650,000 3.50% 1.55%

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

F.A.: PMA Securities, Inc, Naperville, IL.

Other bidders were:

Robert W. Baird, TIC 2.1446%

BOK Fin Secs, TIC 2.7372%

MINNESOTA

Bloomington Independent School District No. 271

Feb 27, 2017 . . . . . . $11,470,000

General Obligation Taxable OPEB Refunding Bonds, Series 2017B (MN SD Credit Enhancement Program) (book entry).

Dated Mar 23, 2017.

Due Feb 1, 2018 to 2025.

Non-callable.

Winning bid: JPMorgan, at 99.8837, TIC 2.6067%.

Due Amount Cpn Yield Conc Ins
2/1/18 $300,000 0.85% 0.85%
2/1/19 $110,000 1.25% 1.25%
2/1/20 $445,000 1.60% 1.60%
2/1/21 $105,000 2.00% 2.00%
2/1/22 $105,000 2.20% 2.20%
2/1/23 $110,000 2.40% 2.40%
2/1/24 $5,905,000 2.55% 2.57%
2/1/25 $4,390,000 2.70% 2.70%

In association with: Estrada Hinojosa & Company, Inc..

In association with: Academy Securities Inc., Intercoastal Capital Markets, Inc., SL Hare Capital

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

F.A.: Ehlers, Roseville, MN.

Other bidders were:

Raymond James, TIC 2.6334%

PNC Capital Markets, TIC 2.6383%

Robert W. Baird, TIC 2.652%

Piper Jaffray, TIC 2.658%

Janney Montgomery, TIC 2.6777%

Northland Securities, TIC 2.6778%

Wells Fargo Secs, TIC 2.7177%

Fifth Third Secs, TIC 2.7368%

BOK Fin Secs, TIC 2.7533%

FTN Fin Cap Mkts, TIC 2.7582%

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Competitive sales results
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