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

Moody S&P Insurer Cust Ofr ($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
10 ILLINOIS  FIN AUTH REV  DEPAUL UNIV 45200F7G8 4/1/2021 6.000 102.475 0.350 n
25 WAUKEE IA SWR REVENUE SER C 942838CU5 6/1/2022 5.000 107.186 0.500 n
AGM 25 BENSENVILLE IL UTGO SER A Callable 12/15/2021 @ 100 082419UH3 12/15/2023 5.000 105.128 0.500 3.269 n
ST INTERCE 20 BATESVILLE IN SCH BLDG CORP REF 070725KB1 7/15/2024 4.000 112.514 0.600 n
ST INTERCE 40 BATESVILLE IN SCH BLDG CORP REF 070725KD7 7/15/2025 3.000 110.186 0.800 n
ST INTERCE 460 BATESVILLE IN SCH BLDG CORP REF 070725KE5 1/15/2026 3.000 110.970 0.850 n
Q-SBLF 200 BRECKENRIDGE MI CMNTY SCH DIST UTGO 106457FR0 5/1/2026 2.000 105.309 1.000 n
AGM 150 COLLEGE CSD REV IA -BENTON ETC CNTYS 083042AF8 6/1/2026 2.000 105.393 1.000 n
ST INTERCE 345 BATESVILLE IN SCH BLDG CORP REF 070725KF2 7/15/2026 3.000 111.697 0.900 n
ST INTERCE 405 BATESVILLE IN SCH BLDG CORP REF 070725KG0 1/15/2027 3.000 112.045 1.000 n
Q-SBLF 250 BRECKENRIDGE MI CMNTY SCH DIST UTGO 106457FS8 5/1/2027 2.000 104.965 1.200 n
CNTY GTD 35 LAKESIDE DRAIN NO 287 MI LTGO BQ 51215CBC0 6/1/2027 3.000 112.752 1.000 n
ST INTERCE 545 BATESVILLE IN SCH BLDG CORP REF 070725KH8 7/15/2027 3.000 112.980 1.000 n
ST INTERCE 495 BATESVILLE IN SCH BLDG CORP REF 070725KJ4 1/15/2028 2.000 106.235 1.100 n
Q-SBLF 960 BRECKENRIDGE MI CMNTY SCH DIST UTGO 106457FT6 5/1/2028 2.000 104.241 1.400 n
BAM 40 WEAVER CA UNION SCH DIST UTGO BQ Callable 8/1/2024 @ 100 947272GQ7 8/1/2028 5.000 115.776 0.750 2.733 n
65 NEW YORK CITY NY TFA REV SERIES D Callable 11/1/2022 @ 100 64971QM91 11/1/2028 3.000 104.507 0.750 2.379 n
100 CHARLEVOIX MI PUBLIC SCH DIST UTGO BQ 160753FL8 5/1/2029 3.000 114.105 1.250 n
AGM 375 COOK CNTY IL HIGH SCH DIST #209 UTGO BQ Callable 12/1/2024 @ 100 215579ER0 12/1/2030 4.000 112.036 1.000 2.635 n
Q-SBLF 1185 BRECKENRIDGE MI CMNTY SCH DIST UTGO Callable 5/1/2030 @ 100 106457FW9 5/1/2031 2.000 101.297 1.850 1.863 n
BAM 15 TURLOCK CA UNIF SCH DIST UTGO Callable 8/1/2026 @ 100 900211DE0 8/1/2031 1.125 91.557 2.000 n
100 CONNECTICUT ST UTGO Callable 9/1/2024 @ 100 20772JWN8 9/1/2031 4.000 110.318 1.250 2.886 n
115 MIDDLETOWN DE UTGO Callable 10/1/2030 @ 100 597009FP9 10/1/2031 4.000 125.096 1.300 1.503 n
55 SCHAUMBURG IL SER B UTGO Callable 12/1/2028 @ 100 806347NZ9 12/1/2031 2.000 101.877 1.750 1.812 n
125 BRAZOS RIVER AUTH TX Callable 2/15/2024 @ 100 106219LD8 2/15/2032 3.000 106.496 1.000 2.343 n
Q-SBLF 250 BRECKENRIDGE MI CMNTY SCH DIST UTGO Callable 5/1/2030 @ 100 106457FX7 5/1/2032 2.000 100.000 2.000 2.000 n
100 GOODYEAR AZ UTGO Callable 7/1/2027 @ 100 382505KV6 7/1/2032 3.500 114.393 1.250 2.104 n
75 AUSTIN TX CMNTY CLG DIST Callable 8/1/2025 @ 100 052405CZ8 8/1/2032 3.625 109.749 1.500 2.655 n
50 LAKE STEVENS WA SWR DIST Callable 11/1/2029 @ 100 510849GL0 11/1/2032 4.000 121.022 1.500 2.022 n
390 BARTLETT IL REF UTGO Callable 12/1/2028 @ 100 069338PL9 12/1/2032 3.000 109.011 1.800 2.150 n
50 MISSOURI JT MUNI ELEC UTILITY REV Callable 6/1/2025 @ 100 606092JW5 12/1/2032 3.375 108.312 1.500 2.571 n
500 PALATINE IL REF UTGO Callable 12/1/2028 @ 100 696089N98 12/1/2032 2.000 100.000 2.000 2.000 n
Q-SBLF 75 FOWLER MI PUBLIC SCH DIST UTGO Callable 5/1/2030 @ 100 351190EJ8 5/1/2033 2.000 100.000 2.000 2.000 n
500 PALATINE IL REF UTGO Callable 12/1/2028 @ 100 696089P21 12/1/2033 2.000 98.867 2.100 n
65 SCHAUMBURG IL SER B UTGO Callable 12/1/2028 @ 100 806347PB0 12/1/2033 2.000 100.000 2.000 2.000 n
50 MCHENRY & KANE CNTYS IL UTGO BQ Callable 1/1/2026 @ 100 580773KX6 1/1/2034 3.250 106.129 2.000 2.695 n
250 PALATINE IL REF UTGO Callable 12/1/2028 @ 100 696089P39 12/1/2034 2.125 99.100 2.200 n
Q-SBLF 250 BRECKENRIDGE MI CMNTY SCH DIST UTGO Callable 5/1/2030 @ 100 106457GA6 5/1/2035 2.125 99.074 2.200 n
Q-SBLF 50 HARTLAND MI CONSOL SCH DIST UTGO Callable 5/1/2030 @ 100 416848YC7 5/1/2035 2.250 102.151 2.000 2.077 n
5 HOUSTON TX UTILITY SYS REVENUE Callable 11/15/2022 @ 100 44244CD53 11/15/2037 4.000 106.104 1.000 3.521 n
250 LOS ANGELES CA CMNTY CLG DIST UTGO Callable 8/1/2026 @ 100 54438CWS7 8/1/2038 5.000 121.752 1.100 3.364 n
130 BELGRADE MN REF UTGO BQ Callable 1/1/2030 @ 100 07780JHU6 1/1/2039 2.400 100.000 2.400 2.400 n
Q-SBLF 35 FOWLER MI PUBLIC SCH DIST UTGO Callable 5/1/2030 @ 100 351190EQ2 5/1/2039 2.250 98.508 2.350 n
500 NILES IL PARK DIST REF UTGO BQ Callable 12/1/2025 @ 100 654217JX7 12/1/2039 3.000 104.581 2.050 2.692 n
BAM 5 HARRIS CNTY TX MUD #419 UTGO Callable 9/1/2024 @ 100 41421DA71 9/1/2042 4.000 107.383 2.000 3.513 n
195 BELGRADE MN REF UTGO BQ Callable 1/1/2030 @ 100 07780JHY8 1/1/2043 2.500 100.000 2.500 2.500 n
Q-SBLF 105 HARTLAND MI CONSOL SCH DIST UTGO Callable 5/1/2030 @ 100 416848YL7 5/1/2043 2.375 99.567 2.400 n
Q-SBLF 105 HARTLAND MI CONSOL SCH DIST UTGO Callable 5/1/2030 @ 100 416848YN3 5/1/2045 2.500 100.000 2.500 2.500 n
200 LEMOORE CA UNION HIGH SCH DIST UTGO BQ Callable 8/1/2030 @ 100 525726FM2 8/1/2045 2.375 100.000 2.375 2.375 n
215 BELGRADE MN REF UTGO BQ Callable 1/1/2030 @ 100 07780JJC4 1/1/2047 2.600 100.000 2.600 2.600 n
Q-SBLF 100 FOWLER MI PUBLIC SCH DIST UTGO Callable 5/1/2030 @ 100 351190FB4 5/1/2050 2.750 100.000 2.750 2.750 n
235 BELGRADE MN REF UTGO BQ Callable 1/1/2030 @ 100 07780JJG5 1/1/2051 2.700 100.000 2.700 2.700 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

Moody S&P Insurer Cust Ofr ($,000s) Description Call 1 CUSIP Mat Dt Cpn(%) Price Yield(%) YTM(%) Taxable
150 DU PAGE CNTY IL SCH DIST #33 TAXABLE 262885LK0 12/1/2023 2.000 103.621 0.800 y
105 DU PAGE CNTY IL SCH DIST #33 TAXABLE 262885LL8 12/1/2024 1.000 100.000 1.000 y
115 DU PAGE CNTY IL SCH DIST #33 TAXABLE 262885LP9 12/1/2027 2.000 102.998 1.550 y
440 DU PAGE CNTY IL SCH DIST #33 TAXABLE 262885LQ7 12/1/2028 2.000 102.631 1.650 y
360 NEW YORK ST URBAN DEV CORP REV TXBL Callable 9/15/2027 @ 100 6500355Y0 3/15/2029 3.320 110.153 1.750 2.000 y
320 ENCINITAS CA UNION SCH DIST UTGO 292533GJ9 8/1/2029 1.477 99.402 1.550 y
AGM 635 EASTAMPTON TWP NJ BRD OF EDU 276037EV6 3/1/2030 1.877 99.802 1.900 y
ST HGR ED 820 COLORADO ST BRD OF GOVERNORS 196707F24 3/1/2030 2.444 105.521 1.800 y
310 ENCINITAS CA UNION SCH DIST UTGO 292533GK6 8/1/2030 1.577 99.342 1.650 y
150 DU PAGE CNTY IL SCH DIST #33 TAXABLE Callable 12/1/2029 @ 100 262885LT1 12/1/2031 2.000 100.000 2.000 2.000 y
250 MCHENRY & KANE CNTYS IL CCSD 158 TXB Callable 2/15/2029 @ 100 580773LV9 2/15/2033 2.640 101.793 2.400 2.470 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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