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
115 SAN LUIS OBISPO CA WTR REV REF Callable 6/1/2020 @ 102 798662EA6 6/1/2023 4.000 102.417 1.400 3.190 n
ST AID WIT 55 LONG CNTY GA SCH DIST  UTGO BQ 54265PCL3 3/1/2025 3.000 106.345 1.650 n
65 SAN FRANCISCO CITY & CNTY CA  UTGO Callable 6/15/2020 @ 100 797646RY4 6/15/2026 4.000 100.522 1.400 3.904 n
25 UNIV OF NEBRASKA NE REVENUES Callable 7/1/2027 @ 100 914646AN4 7/1/2027 3.000 108.471 1.750 1.750 n
65 INDIANA ST FIN AUTH REVENUE REF- 45506DJ30 2/1/2028 5.000 124.511 1.650 n
55 KIRKWOOD IA CMNTY CLG UTGO 497592KQ7 6/1/2028 4.000 116.219 1.850 n
BAM 75 HUNTINGTON IN MUNI BLDG CORP REV BQ 446365AR9 8/1/2028 3.000 109.649 1.750 n
55 PIERCE CNTY WA SWR REVENUE Callable 8/1/2022 @ 100 720653KZ6 8/1/2028 4.000 105.703 1.500 3.214 n
PSF-GTD 80 DIME BOX INDEP SCH DIST TX BQ 254327AJ8 8/15/2028 3.000 109.691 1.750 n
250 UPPER SADDLE RIVER NJ UTGO BQ Callable 2/1/2027 @ 100 916431DR7 2/1/2029 2.000 101.601 1.750 1.803 n
ST AID WIT 200 SEWANHAKA NY CENTRL HSD UTGO Callable 7/15/2024 @ 100 818359EL1 7/15/2029 2.000 100.000 2.000 2.000 n
55 PRINCE GEORGES CNTY MD CONSOL Callable 9/15/2027 @ 100 7417013H7 9/15/2029 3.000 106.891 2.000 2.189 n
35 LAKE CNTY IL  TAXABLE WTR & SWR REV Callable 12/1/2020 @ 100 509300VH9 12/1/2030 5.150 102.064 2.000 4.898 n
145 SAN RAMON VLY CA UNIF SCH DIST UTGO Callable 8/1/2023 @ 100 799408V48 8/1/2031 3.000 103.204 2.000 2.670 n
ST AID WIT 50 CUSTER CNTY CO SCH DIST #C-1 UTGO BQ Callable 12/1/2024 @ 100 231734BC7 12/1/2031 4.000 111.219 1.500 2.862 n
50 ROCHESTER NH SER A UTGO BQ Callable 3/1/2025 @ 100 771639TW1 3/1/2032 3.000 104.656 2.000 2.544 n
ST AID WIT 55 TATTNALL CNTY GA SCH DIST Callable 3/1/2029 @ 100 876632BZ2 3/1/2032 5.000 124.380 2.000 2.606 n
100 BONDURANT IA SER B UTGO Callable 6/1/2028 @ 100 098041KK1 6/1/2032 2.000 98.400 2.150 n
60 DORAL FL  UTGO Callable 7/1/2029 @ 100 25812LAN8 7/1/2032 3.000 107.091 2.150 2.331 n
25 ISU FACS CORP IA REVENUE Callable 7/1/2027 @ 100 45032TAQ6 7/1/2032 3.000 106.019 2.100 2.429 n
ST AID WIT 200 SOMERS NY CENTRL SCH DIST UTGO Callable 8/1/2027 @ 100 834528NT4 8/1/2032 2.125 99.192 2.200 n
100 MAMARONECK TOWN NY LIMITED TAX GO BQ Callable 10/1/2024 @ 100 561484UQ7 10/1/2032 2.000 99.999 2.000 2.000 n
75 VIRGINIA ST RESOURCES AUTH Callable 11/1/2027 @ 100 92818MFY1 11/1/2032 3.000 108.098 1.850 2.257 n
25 FORT WAYNE IN STORMWTR REV Callable 2/1/2025 @ 100 34929MBY3 2/1/2033 3.000 104.112 2.100 2.620 n
50 RHODE ISLAND UTGO ST & PROVIDENCE Callable 4/1/2028 @ 100 76222RWL2 4/1/2033 3.000 106.593 2.100 2.406 n
75 CHINO BASIN CA DESALTER AUTH REF Callable 6/1/2026 @ 100 169480BV1 6/1/2033 3.000 105.770 2.000 2.483 n
BAM 245 WAUKEE IA CMNTY SCH DIST REV Callable 6/1/2028 @ 100 94283NDP2 6/1/2033 2.000 96.611 2.300 n
25 MIDDLE ISLAND NY FIRE DIST UTGO Callable 6/15/2024 @ 100 595747AX4 6/15/2033 3.000 101.380 2.650 2.873 n
50 NEW YORK CITY NY MUNI WTR FIN AUTH Callable 6/15/2027 @ 100 64972GNH3 6/15/2033 5.000 120.028 2.000 3.135 n
100 SANTA CRUZ CITY CA SCH DIST UTG Callable 8/1/2027 @ 100 801733JT4 8/1/2033 3.125 106.928 2.100 2.510 n
25 WALNUT VLY CA UNIF SCH DIST UTGO Callable 8/1/2026 @ 100 932889WF1 8/1/2033 3.000 105.916 2.000 2.476 n
Q-SBLF 50 LAKE SHORE MI PUBLIC SCHS UTGO Callable 11/1/2025 @ 100 510768HH0 11/1/2033 3.000 103.911 2.250 2.655 n
190 NEW HAMPSHIRE ST SER B UTGO Callable 12/1/2027 @ 100 6446824B9 12/1/2033 3.000 107.071 2.000 2.390 n
25 BELMONT CA JT PWRS FING AUTH SWR Callable 8/1/2026 @ 100 080178DL7 8/1/2036 3.000 102.908 2.500 2.777 n
40 AUBURN MA WTR DIST  LTGO BQ Callable 11/1/2027 @ 100 050429CR8 11/1/2037 2.000 94.289 2.400 n
SD CRED PR 440 OWATONNA MN INDEP SCH DIST UTGO Callable 2/1/2028 @ 100 690564RV3 2/1/2038 2.000 95.630 2.300 n
120 LOSTANT IL REF UTGO BQ Callable 5/1/2030 @ 100 54567YAJ6 5/1/2042 3.400 101.278 3.250 3.318 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
15 OAKDALE MN TAXABLE UTGO REF Callable 2/1/2026 @ 100 672088GT2 2/1/2029 2.550 100.000 2.550 2.550 y
20 MCFARLAND WI TAXABLE UTGO Callable 4/1/2028 @ 100 580441GU1 4/1/2032 3.000 102.144 2.700 2.788 y
25 MIAMI-DADE CNTY FL TAXABLE WTR & SWR 59334DLL6 10/1/2029 2.601 100.000 2.601 y
25 UNIV OF NORTH CAROLINA NC  TAXABLE Callable 12/1/2028 @ 100 914713J29 12/1/2033 3.596 110.539 2.250 2.670 y
30 HOBOKEN NJ TAXABLE UTGO Callable 2/1/2025 @ 100 434110TH5 2/1/2035 4.000 104.005 3.100 3.648 y
85 CALIFORNIA ST EDUCTNL FACS TAXABLE 1301782M7 10/1/2021 2.250 100.000 2.250 y
225 NOBLESVILLE IN ECON DEV REV TAXABLE Callable 2/1/2023 @ 100 655153CM4 8/1/2023 2.430 99.750 2.508 y
225 GASTONIA NC BUILD AMERICA BONDS Callable 9/1/2020 @ 100 367316YU4 9/1/2030 4.961 101.316 1.750 4.798 y
ST HGR ED 245 MESA CO ST CLG AUXILIARY FACS Callable 5/15/2033 @ 100 59067ABJ1 5/15/2040 5.800 130.179 3.000 3.666 y
325 NEOSHO CNTY KS TAXABLE UTGO 640575HY5 9/1/2024 2.150 99.500 2.269 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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