Results of Negotiated Sales

MARYLAND

Maryland Community Development Administration Department of Housing and Community Development

Apr 24, 2015 . . . . . . $13,000,000

Multifamily Development Revenue Bonds, Series 2015A (Conifer Village at Oakcrest) (book entry)

Dated Apr 29, 2015.

Due Apr 1, 2017.

First coupon Oct 1, 2015.

Non-callable.

Privately placed by Stifel, Nicolaus & Co., Inc., as follows:

Due Amount Cpn Reoffered Ins
4/1/17 $13,000,000 0.80% 0.80%

NORTH DAKOTA

Underwood (City)

Apr 24, 2015 . . . . . . $3,500,000

Loan Anticipation Temporary Improvement Revenue Bonds, Series 2015 (bank qualified) (book entry)

Dated May 1, 2015.

Due Sep 1, 2016.

First coupon Sep 1, 2016.

Non-callable.

Purchased through negotiation by Dougherty & Company LLC, as follows:

Due Amount Cpn Reoffered Ins
9/1/16 $3,500,000 1.00% 1.00%

L.O.: Ohnstad Twichell, West Fargo, ND.

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Negotiated sales results
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