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($,000) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
100 DERBY KS SALES TAX-SER C UTGO BQ 2497754F1 12/1/2020 2.000 100.180 1.900 n
GNMA/FNMA/ 60 WASHINGTON ST HSG FIN COMM AMT 93978TYQ6 6/1/2021 2.250 100.000 2.249 n
50 WAVERLY IA WTR REVENUE SER B 943665DU0 6/1/2021 3.000 102.290 2.000 n
150 IONIA CNTY MI  LTGO 462115RB4 8/1/2021 3.000 102.699 1.900 n
50 DERBY KS UTGO Callable 12/1/2022 @ 100 249776CT0 12/1/2023 3.000 103.505 2.050 2.234 n
20 BLOOMINGTON IN PARK DIST SER A 094707GX8 8/15/2024 4.000 109.102 2.250 n
70 BLOOMINGTON IN PARK DIST SER A 094707KD7 2/15/2025 4.000 109.569 2.300 n
80 BLOOMINGTON IN PARK DIST SER B 094707KL9 2/15/2025 4.000 109.569 2.300 n
25 BLOOMINGTON IN PARK DIST SER A 094707GY6 8/15/2025 4.000 109.981 2.350 n
50 DEFOREST WI REF-TID #7 SER G UTGO Callable 9/1/2024 @ 100 240297KB6 9/1/2025 3.000 103.395 2.350 2.440 n
80 BLOOMINGTON IN PARK DIST SER B 094707KM7 2/15/2026 4.000 110.337 2.400 n
55 BLOOMINGTON IN PARK DIST SER A 094707GZ3 8/15/2026 4.000 110.641 2.450 n
85 COLONY TX CTFS OBLIG LIMITED OB 19624KQM6 8/15/2026 4.000 111.739 2.300 n
50 N TEXAS ST MUNI WTR DIST WTR SYS Callable 9/1/2025 @ 100 662903PS6 9/1/2027 5.000 116.462 2.300 2.831 n
55 DUNDAS MN SER A UTGO BQ 265179GN5 2/1/2028 4.000 112.051 2.500 n
110 FAIRFIELD-SUISUN CA SCH DIST UTGO Callable 8/1/2022 @ 100 304747FG8 8/1/2028 3.000 102.016 2.400 2.758 n
PSF-GTD 10 GEORGETOWN TX INDEP SCH DIST UTGO Callable 8/15/2027 @ 100 373046VT5 8/15/2028 5.000 117.897 2.650 2.849 n
BAM 160 COOK CNTY IL SD #162 MATTESON BQ 215291PK5 12/1/2028 3.150 100.000 3.149 3.150 n
75 ENNIS TX CTFS OBLIG LTGO Callable 2/1/2028 @ 100 293425D76 2/1/2030 3.000 100.000 3.000 3.000 n
25 BLOOMINGTON IN PARK DIST SER A Callable 2/15/2028 @ 100 094707HD1 8/15/2030 4.000 107.883 3.000 3.180 n
150 SAINT PETERSBURG FL PUB WTR SWR Callable 10/1/2022 @ 100 793323NN2 10/1/2030 4.000 106.346 2.200 3.340 n
200 CHICAGO IL OHARE INTERNATIONAL AMT Callable 1/1/2022 @ 100 167593JD5 1/1/2031 5.000 106.606 2.650 4.287 n
200 VIRGINIA ST HSG DEV AUTH CMWLTH Callable 10/1/2022 @ 100 92812UG36 4/1/2031 3.000 99.997 3.000 n
Q-SBLF 75 HARPER CREEK MI CMNTY SCH DIST UTGO Callable 11/1/2026 @ 100 413450JU2 5/1/2031 5.000 116.029 2.700 3.392 n
20 MADISON CNTY TN SER A UTGO Callable 5/1/2026 @ 100 557412XL2 5/1/2031 3.000 98.982 3.100 n
50 FISHERS IN REDEV DIST SPECIAL TAX Callable 7/15/2027 @ 100 33803KED3 7/15/2031 4.000 108.217 2.900 3.196 n
150 ILLINOIS ST FIN AUTH REVENUE Callable 8/15/2022 @ 100 45203HPR7 8/15/2033 4.000 104.214 2.750 3.625 n
AGM 180 ALPENA CNTY MI CAPITAL IMPT-JAIL Callable 5/1/2025 @ 100 020587LT6 5/1/2035 3.500 100.276 3.450 3.477 n
AGM 110 ALPENA CNTY MI CAPITAL IMPT-JAIL Callable 5/1/2025 @ 100 020587LU3 5/1/2036 3.500 99.500 3.539 n
100 BROOKHAVEN NY PUBLIC IMPT-SER B LTGO Callable 9/15/2025 @ 100 113152ZQ8 9/15/2036 3.250 98.672 3.350 n
50 LAS VEGAS VLY NV WTR DIST LTGO Callable 6/1/2022 @ 100 5178405S9 6/1/2037 5.000 108.844 2.250 4.298 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($,000) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
BAM 40 COOK CNTY IL SD #162 MATTESON TXBL 215291PL3 12/1/2019 2.800 100.000 2.797 y
BAM 125 COOK CNTY IL SD #162 MATTESON TXBL 215291PS8 12/1/2025 3.500 100.000 3.499 y
215 WILL CNTY IL S/D #122 TAXABLE UTGO Callable 10/1/2023 @ 100 968852A45 10/1/2029 4.500 105.172 3.300 3.903 y
100 GREENSBORO NC LIMITED OBLIG TAXABLE Callable 4/1/2028 @ 100 395476BZ6 4/1/2029 4.163 104.767 3.550 3.600 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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