Bond Selection

Our expertise as municipal bond specialists – paired with diligent credit research – enable us to find and seize opportunities in market inefficiencies with the goal to produce above average returns.

The tables below are a sample of our current bond offerings. Contact us to learn more about any bond or others like it.

Tax-exempt Offerings

Insurer Cust Ofr($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM (%) Taxable
AGM 50 COOK CNTY IL SCH DIST PRE-RE 2020 215021KD7 12/1/2020 5.000 106.200 2.000 n
25 HILLSBORO IL REF-WTRWKS & SWR UTGO BQ 431794CF1 12/1/2020 2.500 99.998 2.500 n
115 JOHNSON CNTY IL REF-UTGO BQ 478389CM9 12/1/2020 2.000 98.159 2.900 n
ST AID WIT 25 LOUDOUN CNTY VA PUB IMPT UTGO -SER A 5458966F4 12/1/2020 5.000 105.986 2.100 n
350 WHEATON IL PARK DIST REF UTGO BQ 962757SM3 12/30/2021 3.000 101.992 2.350 n
ST INTERCE 25 GRIFFITH IN REDEV AUTH LEASE RENT RV Callable 2/1/2022 @ 100 398346AQ9 8/1/2022 3.000 101.566 2.500 2.563 n
75 MCKINNEY TX REF LIMITED TAX GO 5816467S9 8/15/2022 5.000 109.758 2.320 n
ST AID WIT 300 EVANSVILLE VANDERBURGH CNTY IN BQ Callable 1/15/2020 @ 100 299578DH4 7/15/2023 2.500 100.000 2.498 2.500 n
10 OFALLON IL REF-SER B UTGO BQ 676176LA6 1/1/2025 3.000 101.129 2.800 n
10 OFALLON IL REF-SER B UTGO BQ 676176LB4 1/1/2026 3.000 100.643 2.900 n
ST INTERCE 25 CONCORD IN CMNTY SCHS BLDG CORP REV 206256TX7 7/15/2026 5.000 114.468 2.900 n
150 MICHIGAN ST UNIV REVENUES GEN-SER A Callable 8/15/2023 @ 100 594712SR3 8/15/2026 5.000 111.299 2.500 3.347 n
AGM 80 KAUKAUNA WI ELEC SYS REVENUE REFD Callable 12/15/2025 @ 100 486296PF7 12/15/2026 4.000 106.397 3.000 3.106 n
10 OFALLON IL REF-SER B UTGO BQ 676176LC2 1/1/2027 3.000 100.000 3.000 n
60 CROWN POINT IN WTRWKS REV BQ Callable 2/1/2023 @ 100 228525HP9 2/1/2027 3.000 99.500 3.068 n
AGM 15 COLLIN CNTY TX MUD #1 UTGO Callable 2/15/2025 @ 100 194748EF2 2/15/2027 3.125 99.815 3.150 n
AGM 85 N W HARRIS CNTY TX MUD #5 UTGO     -A Callable 5/1/2023 @ 100 667488SW1 5/1/2027 3.000 99.253 3.100 n
AGM 40 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DB0 6/1/2027 3.000 100.000 3.000 3.000 n
35 MIAMI-DADE CNTY FL TRANSIT Callable 7/1/2026 @ 100 59334PFZ5 7/1/2027 5.000 115.900 2.700 2.918 n
155 PROSPECT HEIGHTS IL SSA #6 UTGO BQ 74348VAU1 12/15/2027 3.450 99.220 3.550 n
10 OFALLON IL REF-SER B UTGO BQ 676176LD0 1/1/2028 3.100 100.000 3.100 n
50 S BEND IN CNTY ECON DEV INC TAX REV Callable 8/1/2025 @ 100 836518FY1 2/1/2028 3.000 99.195 3.100 n
5 WEST KNOX TN UTILITY DIST REV BQ Callable 6/1/2026 @ 100 953564HD6 6/1/2028 3.000 100.000 3.000 3.000 n
35 DES PLAINES IL REF UTGO Callable 12/1/2024 @ 100 250217M37 12/1/2028 3.000 98.706 3.150 n
Q-SBLF 25 N W MI CMNTY SCHS UTGO Callable 5/1/2023 @ 100 667567CC3 5/1/2029 4.000 104.645 2.900 3.470 n
50 FLORIDA ST TURNPIKE AUTH REV Callable 7/1/2026 @ 100 343137BU8 7/1/2029 5.000 114.775 2.850 3.346 n
10 MIAMI-DADE CNTY FL WTR & SWR Callable 10/1/2023 @ 100 59334DHM9 10/1/2029 4.375 107.000 2.850 3.596 n
BAM 110 MONTGOMERY CNTY NY PUB IMPT LTGO BQ Callable 10/1/2026 @ 100 613443TD2 10/1/2029 3.250 101.402 3.050 3.098 n
ST AID WIT 215 LAKE CENTRAL IN MULTI-DIST SCH BLDG Callable 1/15/2023 @ 100 507686PQ0 1/15/2030 5.000 109.581 2.600 3.937 n
AGM 25 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DE4 6/1/2030 3.100 97.145 3.400 n
410 AURORA IL WTRWKS & SWR REVENUE Callable 12/1/2023 @ 100 051690FM2 12/1/2030 4.000 103.271 3.300 3.663 n
105 NILES IL UTGO Callable 12/1/2026 @ 100 654200MB7 12/1/2030 3.250 96.583 3.600 n
AGM 555 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DF1 6/1/2031 3.200 96.470 3.550 n
1905 MORRISTOWN TN UTGO Callable 6/1/2026 @ 100 618635MM5 6/1/2031 3.125 97.700 3.350 n
45 MIDDLEBOROUGH MA LTGO Callable 10/1/2026 @ 100 596051VB5 10/1/2031 3.000 96.857 3.300 n
190 VIRGINIA ST RESOURCES AUTH Callable 11/1/2023 @ 100 92818AV29 11/1/2031 5.000 111.515 2.550 3.867 n
AGM 20 COLLIN CNTY TX MUD #1 UTGO Callable 2/15/2025 @ 100 194748EL9 2/15/2032 3.500 99.469 3.550 n
175 LOWER COLORADO RIVER TX ELEC REV Callable 5/15/2022 @ 100 54811BNB3 5/15/2032 4.000 104.229 2.750 3.603 n
AGM 600 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DG9 6/1/2032 3.300 96.275 3.650 n
100 MIDDLEBOROUGH MA LTGO Callable 10/1/2026 @ 100 596051VC3 10/1/2032 3.125 96.963 3.400 n
BAM 175 MONTGOMERY CNTY NY PUB IMPT LTGO BQ Callable 10/1/2026 @ 100 613443TG5 10/1/2032 3.250 98.343 3.400 n
AGM 725 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DH7 6/1/2033 3.400 96.093 3.750 n
1740 MORRISTOWN TN UTGO Callable 6/1/2026 @ 100 618635MP8 6/1/2033 3.250 96.602 3.550 n
BAM 155 MONTGOMERY CNTY NY PUB IMPT LTGO BQ Callable 10/1/2026 @ 100 613443TH3 10/1/2033 3.250 97.107 3.500 n
35 MORRISTOWN TN UTGO Callable 6/1/2026 @ 100 618635MQ6 6/1/2034 3.500 98.225 3.650 n
70 WEST KNOX TN UTILITY DIST REV BQ Callable 6/1/2026 @ 100 953564HK0 6/1/2034 3.500 99.403 3.550 n
BAM 190 MONTGOMERY CNTY NY PUB IMPT LTGO BQ Callable 10/1/2026 @ 100 613443TJ9 10/1/2034 3.375 97.285 3.600 n
300 WEST KNOX TN UTILITY DIST REV BQ Callable 6/1/2026 @ 100 953564HL8 6/1/2035 3.500 98.757 3.600 n
AGM 75 COLLIN CNTY TX MUD #1 UTGO Callable 2/15/2025 @ 100 194748EQ8 2/15/2036 3.750 100.000 3.749 n
AGM 480 CLARKE IA CMNTY SCH DIST UTGO Callable 6/1/2025 @ 100 181756DL8 6/1/2036 3.600 95.591 3.950 n
185 WEST KNOX TN UTILITY DIST REV BQ Callable 6/1/2026 @ 100 953564HN4 6/1/2037 3.625 98.996 3.700 n
AGM 40 COLLIN CNTY TX MUD #1 UTGO Callable 2/15/2025 @ 100 194748ES4 2/15/2038 3.750 98.642 3.850 n
185 MOUNT PROSPECT IL REF-SER B UTGO Callable 12/1/2027 @ 100 622826WZ4 12/1/2038 3.875 98.279 4.000 n
AGM 125 COLLIN CNTY TX MUD #1 UTGO Callable 2/15/2025 @ 100 194748EX3 2/15/2043 4.000 100.000 3.999 4.000 n
BAM 15 OWENSBORO KY WTR REVENUE REF & IMPT Callable 9/15/2027 @ 100 691106MV7 9/15/2048 4.000 97.441 4.150 n
250 ROCHESTER MN HLTH CARE FACS REVENUE Callable 5/15/2028 @ 100 771902HF3 11/15/2048 4.000 98.575 4.083 n

*Tax-Free Offerings are free from current Federal income taxes only. Income may be subject to state and local taxes and the alternative minimum tax (AMT). AMBAC, MBIA, XLCA, FGIC and CIFG are on credit watch for possible downgrade.

Taxable Offerings

Insurer Cust Ofr($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM (%) Taxable
35 WISCONSIN ST HSG & ECON DEV AUTH TXB 976904XV9 5/1/2022 3.400 100.000 3.400 y
ST INTERCE 50 LAKE CENTRAL IN SCH CORP TXBL UTGO Callable 1/5/2022 @ 100 507689FD4 7/5/2022 4.020 102.329 3.250 3.347 y
275 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO 052397NE2 9/1/2027 5.000 111.351 3.500 y
305 NEW YORK NY TAXABLE UTGO Callable 10/1/2027 @ 100 64966MQN2 10/1/2029 3.050 91.638 4.000 y
255 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO Callable 9/1/2028 @ 100 052397NH5 9/1/2030 3.375 97.366 3.650 y
330 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO Callable 9/1/2028 @ 100 052397NJ1 9/1/2031 3.500 97.963 3.700 y
105 EAU CLAIRE WI TAXABLE-REF-UTGO Callable 4/1/2026 @ 100 278444HF4 4/1/2032 3.600 95.867 4.000 y
360 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO Callable 9/1/2028 @ 100 052397NL6 9/1/2033 3.500 96.612 3.800 y
400 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO Callable 9/1/2028 @ 100 052397NM4 9/1/2034 3.625 97.343 3.850 y
400 AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO Callable 9/1/2028 @ 100 052397NN2 9/1/2035 3.625 96.620 3.900 y

May lose principal • Not FDIC insured • Not appropriate for all investors
Past performance does not guarantee future returns
This text contains privileged and/or confidential information. If you are not the intended recipient, you may not disclose, use, disseminate, copy or rely upon this message or attachment in any way. If you received this message in error, please return by forwarding the message and its attachments to the sender. There are or may be pending in the Congress of the United States legislative proposals, including some that carry retroactive effective dates, that, if enacted, could alter or amend the federal tax matters referred to above or affect the market value of bonds. It cannot be predicted whether or in what form any such proposal might be enacted or whether, if enacted, it would apply to bonds issued prior to enactment. Prospective purchasers of bonds should consult their own tax advisors regarding any pending or proposed federal tax legislation. We express no opinion regarding any pending or proposed federal tax legislation. This text is a current opinion and is subject to change at anytime. This information is taken from public sources we believe to be reliable, but we cannot assure complete accuracy. Nothing in this document represents a recommendation of any particular strategy, security or investment product. This information is distributed for educational purposes only and none of this information and analysis is, or is intended to be personalized investment advice. Bernardi Securities, Inc. is not acting in an investment advisory or municipal advisor capacity and the opinions and views contained herein are not intended to be and do not constitute advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rights of the owners of any bond and the enforceability of these rights may be limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting creditors’ rights and by equitable principles, whether considered at law or in equity, including the exercise of judicial discretion. Bernardi Securities, Inc. offerings are made by prospectus or official statement only. Past performance figures are not indicative of future returns. All e-mail correspondence is subject to review by someone other than the sender or recipient. Time sensitive requests such as trade orders and distribution requests must be requested directly through your Investment Specialist or Portfolio Manager. No part of this publication may be reproduced in any form, without the express written consent of Bernardi Securities, Inc. Bernardi Securities Inc. and its affiliates do not accept liability for any errors, omissions or viruses in the contents of this message or any attachments that may arise as a result of e-mail transmissions. Securities described as tax-free or tax-exempt imply that the income is exempt from current federal income tax. These securities may be subject to state and local taxes, the federal alternative minimum tax (AMT), capital gains tax, or other taxes. Please consult your tax professional regarding suitability.

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