The following is a list of a few of the municipal bonds we currently have in inventory. Each bond is offered subject to prior sale and to a change in price. Bonds are offered by prospectus only. Contact us for a copy of Official Statement of bond(s) which interest you or for a complete listing of all bonds we currently offer.

Tax-Free* Offerings

Rating	Quantity	Description	Maturity Date	Coupon	Price	YTC/YTM
NR	150	MATTAWAN MICH CONS SCH DIST	5/1/2016	2.750	$102.14	2.350
AA-		SCH BLDG & EQUIP-SER III
		SCHOOL IMPS.
		FED BQ/ST TAX-EXEMPT
		577056GM0
NR	25	LAKE CNTY ILL AREA VOCATIONAL SYS	6/1/2016	4.500	$106.94	2.600
NR		DEBT CTFS				3.190
		SCHOOL IMPS.
		FED TAX-EXEMPT/ST TAXABLE
		Callable 6/1/2014 @ 100
		508337AJ1
WR	25	NORTHLAKE IL UTGO	12/1/2017	4.250	$105.99	3.200
A+		PUBLIC IMPS				3.325
NATL-RE FGIC		S&P A+ underlying rating
		FED TAX-EXEMPT/ST TAXABLE
		Callable 12/1/2016 @ 100
		666467EH4
Aa2	25	CUYAHOGA CNTY OHIO REV	1/1/2018	5.000	$107.61	2.300
AA-		REFUNDING-A				3.810
		REFUNDING BONDS
		FED & ST TAX-EXEMPT
		Callable 7/1/2013 @ 100
		232286AT1
WR	195	MUSKEGON MI LOC DEV FIN AUTH LTGO	11/1/2019	4.450	$104.26	2.500
A+		UNIV & CLGE IMPS				3.890
AMBAC INSD		S&P A+ underlying rating
		FED BQ/ST TAX-EXEMPT
		Callable 11/1/2012 @ 100
		627810AN4
Aa2	50	PEORIA IL MET ARPT AUTH UTGO	12/1/2019	4.500	$107.18	3.500
NR		ALT REV SOURCE				3.589
		PRT AIRPRT & MARINA IMPS
		FED TAX-EXEMPT/ST TAXABLE
		Callable 12/1/2018 @ 100
		71319RAK3
WR	170	MACOMB TWP MI BLDG AUTH REVS REF	4/1/2020	4.000	$104.78	2.900
AA+		PUBLIC IMPS				3.410
AMBAC INSD		S&P AA+ underlying rating
		FED BQ/ST TAX-EXEMPT
		Callable 4/1/2015 @ 100
		555412FA8
Aa2	60	MICHIGAN ST	5/1/2021	5.250	$107.98	2.250
AA-		ENVIRONMENTAL PROG-SER A				4.310
		POLLUTION CONTROL
		FED & ST TAX-EXEMPT
		Callable 5/1/2013 @ 100
		594610F69
NR	270	WESTERN SPRINGS IL PK DIST LTGO	12/1/2023	4.500	$102.21	4.100
NR		SER A' RECREATIONAL FAC. IMPS.				4.280
		FED BQ/ST TAXABLE
		Sink Fund 12/1/2020 @ 100
		Callable 12/1/2016 @ 100
		959571CC2
WR	635	KANKAKEE IL UTGO SER-A *BQ*	1/1/2025	5.000	$107.67	3.650
A		PUBLIC IMPS				4.281
XLCA INSD		S&P A underlying rtg
		FED BQ/ST TAXABLE
		Callable 1/1/2017 @ 100
		484404SA7
Aa2	150	FORT WAYNE IND REDEV AUTH LEASE RENT REV	8/1/2025	5.000	$106.59	3.850
NR		HARRISON SQUARE PROJ-SER A' REC FAC. IMPS. PUBLIC IMPTS				4.396
ASSURED GTY		FED & ST TAX-EXEMPT
		Sink Fund 2/1/2025 @ 100
		Callable 2/1/2017 @ 100
		349288BA7
NR	880	CHICAGO RIDGE IL PK DIST UTGO *BQ*	12/15/2025	4.600	$103.61	3.700
A		RECREATIONAL' FAC. IMPS.				4.277
		FED BQ
		Sink Fund 12/15/2022 @ 100
		Callable 12/15/2014 @ 100
		168075DS5
Baa1	510	WEST CHICAGO ILL FIRE PROTN DIST	1/1/2029	4.750	$102.82	4.300
NR		PUBLIC IMPS.				4.520
NATL-RE		FED BQ/ST TAXABLE
		Callable 1/1/2018 @ 100
		952075AX7

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

Taxable Offerings

Rating	Quantity	Description	Maturity Date	Coupon	Price	YTC/YTM
Aa3	110	BANK OF NEW YORK MELLON##estate##	3/15/2018	5.270	$100.56	3.000
A+		RETAIL NOTES. PUT IN EVENT OF HLDRS DEATH. LONG 1ST CPN. SERIES F.				5.196
		DOMESTIC MTN
		TAXABLE
		Callable 9/15/2010 @ 100
		06406JCR4