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.

Interest Rate Comparison

2018-05-23 Interest Rate Comparison

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 Description Call 1 CUSIP Mat Dt Cpn Price Yield YTM Taxable
ST INTERCE 395 CONCORD IN CMNTY SCHS BLDG CORP 1ST 206256SL4 1/15/2020 4.000 103.039 2.049 n
140 WATERLOO IA REF-SER A UTGO 941647YM5 6/1/2020 3.000 101.863 2.020 n
30 DURAND WI SWR & WTR SYS REVENUE BQ 266425AX5 12/1/2020 4.000 104.420 2.150 n
60 PIPESTONE MN IMPT-SER A UTGO BQ 724122UH7 2/1/2021 4.000 104.870 2.100 n
30 BROOKLYN WI UTGO BQ 114264AN4 4/1/2021 4.000 104.639 2.300 n
230 NORTHWOOD-KENSETT IA CSD UTGO BQ 668503BQ7 5/1/2021 3.000 102.249 2.200 n
30 OMRO WI UTGO BQ 682148FL0 5/1/2021 3.000 102.094 2.250 n
ST INTERCE 310 CONCORD IN CMNTY SCHS BLDG CORP 1ST 206256SP5 7/15/2021 4.000 105.657 2.100 n
30 DURAND WI SWR & WTR SYS REVENUE BQ 266425AY3 12/1/2021 4.000 105.632 2.300 n
50 PIPESTONE MN IMPT-SER A UTGO BQ 724122UJ3 2/1/2022 4.000 106.277 2.200 n
30 OMRO WI UTGO BQ 682148FM8 5/1/2022 3.000 102.409 2.350 n
110 WAUKEE IA SWR REVENUE SER C 942838CU5 6/1/2022 5.000 110.337 2.250 n
ST AID WIT 25 BUTTS CNTY GA SCH DIST SALES TAX 124243BX3 9/1/2022 4.000 107.688 2.100 n
30 DURAND WI SWR & WTR SYS REVENUE BQ 266425AZ0 12/1/2022 4.000 106.737 2.400 n
70 CORCORAN MN SER A UTGO BQ 218388DZ6 2/1/2023 3.000 103.078 2.300 n
25 PIPESTONE MN IMPT-SER A UTGO BQ 724122UK0 2/1/2023 4.000 107.454 2.300 n
30 OMRO WI UTGO BQ 682148FN6 5/1/2023 3.000 102.292 2.500 n
50 WAUKEE IA WTR REVENUE SER B 942840CS6 6/1/2023 4.000 107.666 2.350 n
30 DURAND WI SWR & WTR SYS REVENUE BQ 266425BA4 12/1/2023 4.000 107.354 2.550 n
10 DEFOREST WI WTR & SWR SYS REVENUE 240313DY9 5/1/2024 3.000 102.956 2.460 n
15 OMRO WI UTGO BQ 682148FP1 5/1/2024 3.000 101.899 2.650 n
55 WAUKEE IA SWR REVENUE SER C 942838CW1 6/1/2024 5.000 113.740 2.500 n
100 WAUKEE IA WTR REVENUE SER B 942840CT4 6/1/2024 4.000 108.244 2.500 n
130 MEQUON WI UTGO 587316QF0 10/1/2024 4.000 109.227 2.420 n
30 DURAND WI SWR & WTR SYS REVENUE BQ 266425BB2 12/1/2024 4.000 107.665 2.700 n
50 PIPESTONE MN IMPT-SER A UTGO BQ 724122UM6 2/1/2025 4.000 108.496 2.600 n
65 SAINT ANTHONY MN IMPT-UTGO BQ 787260Q35 2/1/2025 4.000 109.159 2.500 n
45 OMRO WI UTGO BQ 682148FQ9 5/1/2025 3.000 101.560 2.750 n
70 WAUKEE IA SWR REVENUE SER C 942838CX9 6/1/2025 5.000 115.168 2.600 n
50 WAUKEE IA WTR REVENUE SER B 942840CU1 6/1/2025 4.000 108.848 2.600 n
50 LIMESTONE TWP IL UTGO BQ Callable 11/1/2021 @ 100 53271YAN6 11/1/2025 3.150 100.000 3.149 3.150 n
40 DURAND WI SWR & WTR SYS REVENUE BQ 266425BC0 12/1/2025 4.000 108.034 2.800 n
220 NEW GERMANY MN UTGO BQ Callable 2/1/2022 @ 100 644466FQ2 2/1/2026 4.000 106.128 2.250 3.096 n
45 OMRO WI UTGO BQ 682148FR7 5/1/2026 3.000 101.053 2.850 n
40 DURAND WI SWR & WTR SYS REVENUE BQ 266425BD8 12/1/2026 4.000 108.204 2.900 n
85 PIPESTONE MN IMPT-SER A UTGO BQ 724122UP9 2/1/2027 4.000 109.159 2.800 n
20 ST CHARLES MINN UTGO BQ Callable 2/1/2025 @ 100 787821JP3 2/1/2027 3.000 100.600 2.900 2.921 n
50 WYLIE TX CTFS OBLIG LTGO 983064XL5 2/15/2027 4.000 109.618 2.750 n
100 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838CZ4 6/1/2027 3.000 101.415 2.800 2.820 n
BAM 50 MARICOPA CNTY AZ ELEM UTGO Callable 7/1/2026 @ 100 566865JA0 7/1/2027 4.000 109.005 2.750 2.867 n
175 KALAMAZOO MI WSTWTR SYS REVENUE Callable 10/1/2026 @ 100 483273DM7 10/1/2027 4.000 108.863 2.800 2.909 n
40 DURAND WI SWR & WTR SYS REVENUE BQ 266425BE6 12/1/2027 4.000 108.187 3.000 n
PSF-GTD 145 COMAL TX INDEP SCH DIST REF Callable 2/1/2023 @ 100 199820M99 2/1/2028 4.000 106.797 2.450 3.178 n
50 ST CHARLES MINN UTGO BQ Callable 2/1/2025 @ 100 787821JQ1 2/1/2028 3.000 100.600 2.900 2.928 n
55 BROOKLYN WI UTGO BQ Callable 4/1/2025 @ 100 114264AV6 4/1/2028 3.150 100.000 3.150 3.150 n
90 WAUSAU WI CORPORATE PURPOSE UTGO Callable 4/1/2026 @ 100 943334W99 4/1/2028 3.000 100.694 2.900 2.918 n
230 BALL IN ST UNIV UNIV REVENUE Callable 7/1/2023 @ 100 058508EK4 7/1/2028 5.000 112.376 2.400 3.531 n
40 DURAND WI SWR & WTR SYS REVENUE BQ Callable 12/1/2027 @ 100 266425BF3 12/1/2028 3.100 100.000 3.100 3.100 n
120 PIPESTONE MN IMPT-SER A UTGO BQ Callable 2/1/2027 @ 100 724122UR5 2/1/2029 3.000 100.000 3.000 3.000 n
85 OMRO WI UTGO BQ Callable 5/1/2026 @ 100 682148FU0 5/1/2029 3.150 100.000 3.150 3.150 n
575 WATERLOO IA REF-SER A UTGO Callable 6/1/2025 @ 100 941647YW3 6/1/2029 3.000 100.000 3.000 3.000 n
165 WAUKEE IA SWR REVENUE SER C Callable /1/2026 @ 100 942838DB6 6/1/2029 3.000 100.000 3.000 3.000 n
200 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840CY3 6/1/2029 3.000 100.000 3.000 3.000 n
ST INTERCE 50 MIDDLEBURY IN SCHS BLDG CORP REF Callable 7/15/2026 @ 100 596232EG9 7/15/2029 3.250 101.788 3.000 3.059 n
40 DURAND WI SWR & WTR SYS REVENUE BQ Callable 12/1/2027 @ 100 266425BG1 12/1/2029 3.150 100.000 3.150 3.150 n
90 CORCORAN MN SER A UTGO BQ Callable 2/1/2026 @ 100 218388EG7 2/1/2030 3.100 100.000 3.100 3.100 n
50 PIPESTONE MN IMPT-SER A UTGO BQ Callable 2/1/2027 @ 100 724122US3 2/1/2030 3.100 100.000 3.100 3.100 n
25 LA CROSSE WI UTGO Callable 3/1/2026 @ 100 502769CX8 3/1/2030 3.000 98.750 3.128 n
125 WATERLOO IA REF-SER A UTGO Callable 6/1/2025 @ 100 941647YX1 6/1/2030 3.000 99.006 3.100 n
195 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DC4 6/1/2030 3.000 99.006 3.100 n
130 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840CZ0 6/1/2030 3.000 99.006 3.100 n
125 PIPESTONE MN IMPT-SER A UTGO BQ Callable 2/1/2027 @ 100 724122UT1 2/1/2031 3.100 98.963 3.200 n
200 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DD2 6/1/2031 3.100 98.945 3.200 n
215 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840DA4 6/1/2031 3.100 98.945 3.200 n
40 KALAMAZOO MI WSTWTR SYS REVENUE Callable 10/1/2026 @ 100 483273DR6 10/1/2031 3.125 98.653 3.250 n
180 OMRO WI UTGO BQ Callable 5/1/2026 @ 100 682148FX4 5/1/2032 3.250 100.000 3.250 3.250 n
205 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DE0 6/1/2032 3.200 98.888 3.300 n
220 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840DB2 6/1/2032 3.200 98.888 3.300 n
100 PALO ALTO CA UNIF SCH DIST UTGO Callable 7/1/2023 @ 100 697379UW3 7/1/2032 3.000 100.000 3.000 3.000 n
250 GRAPEVINE TX CTFS OBLIG LTGO Callable 2/15/2027 @ 100 388625GX7 2/15/2033 3.125 96.272 3.450 n
100 PORT ARTHUR TX INDEP SCH DIST UTGO Callable 8/15/2026 @ 100 733505SD4 2/15/2033 4.000 105.361 3.250 3.529 n
215 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DF7 6/1/2033 3.300 98.834 3.400 n
225 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840DC0 6/1/2033 3.300 98.834 3.400 n
220 KALAMAZOO MI WSTWTR SYS REVENUE Callable 10/1/2026 @ 100 483273DT2 10/1/2033 3.200 97.622 3.400 n
35 PIPESTONE MN IMPT-SER A UTGO BQ Callable 2/1/2027 @ 100 724122UW4 2/1/2034 3.350 98.795 3.450 n
200 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DG5 6/1/2034 3.350 98.779 3.450 n
215 WAUKEE IA WTR REVENUE SER B Callable 6/1/2026 @ 100 942840DD8 6/1/2034 3.350 98.779 3.450 n
200 KALAMAZOO MI WSTWTR SYS REVENUE Callable 10/1/2026 @ 100 483273DU9 10/1/2034 3.250 97.515 3.450 n
85 GRAPEVINE TX CTFS OBLIG LTGO Callable 2/15/2027 @ 100 388625GZ2 2/15/2035 3.250 96.239 3.550 n
160 DURAND WI SWR & WTR SYS REVENUE BQ Callable 12/1/2027 @ 100 266425BN6 12/1/2035 3.500 100.000 3.500 3.500 n
425 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DJ9 6/1/2036 3.400 98.674 3.500 n
50 WAUKEE IA SWR REVENUE SER C Callable 6/1/2026 @ 100 942838DL4 6/1/2038 3.500 98.584 3.600 n
95 DURAND WI SWR & WTR SYS REVENUE BQ Callable 12/1/2027 @ 100 266425BR7 12/1/2038 3.700 100.000 3.700 3.700 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 Description Call 1 CUSIP Mat Dt Cpn Price Yield YTM Taxable
55 BLOOMINGTON MN TAXABLE-HSG IMPT-UTGO 094780S87 2/1/2025 3.500 100.000 3.500 y
325 CEDAR RAPIDS IOWA TAXABLE UTGO Callable 6/1/2026 @ 100 150528YW1 6/1/2030 3.500 98.555 3.650 y
405 CEDAR RAPIDS IOWA TAXABLE UTGO Callable 6/1/2026 @ 100 150528YY7 6/1/2032 3.600 98.379 3.750 y
335 CEDAR RAPIDS IOWA TAXABLE UTGO Callable 6/1/2026 @ 100 150528YZ4 6/1/2033 3.650 98.298 3.800 y
140 CEDAR RAPIDS IOWA TAXABLE UTGO Callable 6/1/2026 @ 100 150528ZB6 6/1/2035 3.750 98.150 3.900 y
50 LA SALLE & BUREAU COS IL TWP HSD#120 504480CX0 12/1/2020 4.500 103.590 3.000 y
150 MANCHESTER NH TXBL- UTGO 562333MF8 5/1/2024 4.000 104.007 3.250 y
320 MILWAUKEE WI TAXABLE UTGO Callable 4/1/2027 @ 100 602366ZF6 4/1/2033 3.750 98.318 3.900 y
50 WHATCOM CNTY WA PUBLIC UTIL DIST #1 Callable 6/1/2022 @ 100 962468CU6 12/1/2022 3.300 100.559 3.150 3.166 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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