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($,000s) | Description | Call 1 | CUSIP | Mat Dt | Cpn(%) | Price | Yield(%) | YTM (%) | Taxable |
| AGM | 50 | COOK CNTY IL SCH DIST PRE-RE 2020 | 215021KD7 | 12/1/2020 | 5.000 | 106.200 | 2.000 | n | ||
| 25 | HILLSBORO IL REF-WTRWKS & SWR UTGO BQ | 431794CF1 | 12/1/2020 | 2.500 | 99.998 | 2.500 | n | |||
| 115 | JOHNSON CNTY IL REF-UTGO BQ | 478389CM9 | 12/1/2020 | 2.000 | 98.159 | 2.900 | n | |||
| ST AID WIT | 25 | LOUDOUN CNTY VA PUB IMPT UTGO -SER A | 5458966F4 | 12/1/2020 | 5.000 | 105.986 | 2.100 | n | ||
| 350 | WHEATON IL PARK DIST REF UTGO BQ | 962757SM3 | 12/30/2021 | 3.000 | 101.992 | 2.350 | n | |||
| ST INTERCE | 25 | GRIFFITH IN REDEV AUTH LEASE RENT RV | Callable 2/1/2022 @ 100 | 398346AQ9 | 8/1/2022 | 3.000 | 101.566 | 2.500 | 2.563 | n |
| 75 | MCKINNEY TX REF LIMITED TAX GO | 5816467S9 | 8/15/2022 | 5.000 | 109.758 | 2.320 | n | |||
| ST AID WIT | 300 | EVANSVILLE VANDERBURGH CNTY IN BQ | Callable 1/15/2020 @ 100 | 299578DH4 | 7/15/2023 | 2.500 | 100.000 | 2.498 | 2.500 | n |
| 10 | OFALLON IL REF-SER B UTGO BQ | 676176LA6 | 1/1/2025 | 3.000 | 101.129 | 2.800 | n | |||
| 10 | OFALLON IL REF-SER B UTGO BQ | 676176LB4 | 1/1/2026 | 3.000 | 100.643 | 2.900 | n | |||
| ST INTERCE | 25 | CONCORD IN CMNTY SCHS BLDG CORP REV | 206256TX7 | 7/15/2026 | 5.000 | 114.468 | 2.900 | n | ||
| 150 | MICHIGAN ST UNIV REVENUES GEN-SER A | Callable 8/15/2023 @ 100 | 594712SR3 | 8/15/2026 | 5.000 | 111.299 | 2.500 | 3.347 | n | |
| AGM | 80 | KAUKAUNA WI ELEC SYS REVENUE REFD | Callable 12/15/2025 @ 100 | 486296PF7 | 12/15/2026 | 4.000 | 106.397 | 3.000 | 3.106 | n |
| 10 | OFALLON IL REF-SER B UTGO BQ | 676176LC2 | 1/1/2027 | 3.000 | 100.000 | 3.000 | n | |||
| 60 | CROWN POINT IN WTRWKS REV BQ | Callable 2/1/2023 @ 100 | 228525HP9 | 2/1/2027 | 3.000 | 99.500 | 3.068 | n | ||
| AGM | 15 | COLLIN CNTY TX MUD #1 UTGO | Callable 2/15/2025 @ 100 | 194748EF2 | 2/15/2027 | 3.125 | 99.815 | 3.150 | n | |
| AGM | 85 | N W HARRIS CNTY TX MUD #5 UTGO -A | Callable 5/1/2023 @ 100 | 667488SW1 | 5/1/2027 | 3.000 | 99.253 | 3.100 | n | |
| AGM | 40 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DB0 | 6/1/2027 | 3.000 | 100.000 | 3.000 | 3.000 | n |
| 35 | MIAMI-DADE CNTY FL TRANSIT | Callable 7/1/2026 @ 100 | 59334PFZ5 | 7/1/2027 | 5.000 | 115.900 | 2.700 | 2.918 | n | |
| 155 | PROSPECT HEIGHTS IL SSA #6 UTGO BQ | 74348VAU1 | 12/15/2027 | 3.450 | 99.220 | 3.550 | n | |||
| 10 | OFALLON IL REF-SER B UTGO BQ | 676176LD0 | 1/1/2028 | 3.100 | 100.000 | 3.100 | n | |||
| 50 | S BEND IN CNTY ECON DEV INC TAX REV | Callable 8/1/2025 @ 100 | 836518FY1 | 2/1/2028 | 3.000 | 99.195 | 3.100 | n | ||
| 5 | WEST KNOX TN UTILITY DIST REV BQ | Callable 6/1/2026 @ 100 | 953564HD6 | 6/1/2028 | 3.000 | 100.000 | 3.000 | 3.000 | n | |
| 35 | DES PLAINES IL REF UTGO | Callable 12/1/2024 @ 100 | 250217M37 | 12/1/2028 | 3.000 | 98.706 | 3.150 | n | ||
| Q-SBLF | 25 | N W MI CMNTY SCHS UTGO | Callable 5/1/2023 @ 100 | 667567CC3 | 5/1/2029 | 4.000 | 104.645 | 2.900 | 3.470 | n |
| 50 | FLORIDA ST TURNPIKE AUTH REV | Callable 7/1/2026 @ 100 | 343137BU8 | 7/1/2029 | 5.000 | 114.775 | 2.850 | 3.346 | n | |
| 10 | MIAMI-DADE CNTY FL WTR & SWR | Callable 10/1/2023 @ 100 | 59334DHM9 | 10/1/2029 | 4.375 | 107.000 | 2.850 | 3.596 | n | |
| BAM | 110 | MONTGOMERY CNTY NY PUB IMPT LTGO BQ | Callable 10/1/2026 @ 100 | 613443TD2 | 10/1/2029 | 3.250 | 101.402 | 3.050 | 3.098 | n |
| ST AID WIT | 215 | LAKE CENTRAL IN MULTI-DIST SCH BLDG | Callable 1/15/2023 @ 100 | 507686PQ0 | 1/15/2030 | 5.000 | 109.581 | 2.600 | 3.937 | n |
| AGM | 25 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DE4 | 6/1/2030 | 3.100 | 97.145 | 3.400 | n | |
| 410 | AURORA IL WTRWKS & SWR REVENUE | Callable 12/1/2023 @ 100 | 051690FM2 | 12/1/2030 | 4.000 | 103.271 | 3.300 | 3.663 | n | |
| 105 | NILES IL UTGO | Callable 12/1/2026 @ 100 | 654200MB7 | 12/1/2030 | 3.250 | 96.583 | 3.600 | n | ||
| AGM | 555 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DF1 | 6/1/2031 | 3.200 | 96.470 | 3.550 | n | |
| 1905 | MORRISTOWN TN UTGO | Callable 6/1/2026 @ 100 | 618635MM5 | 6/1/2031 | 3.125 | 97.700 | 3.350 | n | ||
| 45 | MIDDLEBOROUGH MA LTGO | Callable 10/1/2026 @ 100 | 596051VB5 | 10/1/2031 | 3.000 | 96.857 | 3.300 | n | ||
| 190 | VIRGINIA ST RESOURCES AUTH | Callable 11/1/2023 @ 100 | 92818AV29 | 11/1/2031 | 5.000 | 111.515 | 2.550 | 3.867 | n | |
| AGM | 20 | COLLIN CNTY TX MUD #1 UTGO | Callable 2/15/2025 @ 100 | 194748EL9 | 2/15/2032 | 3.500 | 99.469 | 3.550 | n | |
| 175 | LOWER COLORADO RIVER TX ELEC REV | Callable 5/15/2022 @ 100 | 54811BNB3 | 5/15/2032 | 4.000 | 104.229 | 2.750 | 3.603 | n | |
| AGM | 600 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DG9 | 6/1/2032 | 3.300 | 96.275 | 3.650 | n | |
| 100 | MIDDLEBOROUGH MA LTGO | Callable 10/1/2026 @ 100 | 596051VC3 | 10/1/2032 | 3.125 | 96.963 | 3.400 | n | ||
| BAM | 175 | MONTGOMERY CNTY NY PUB IMPT LTGO BQ | Callable 10/1/2026 @ 100 | 613443TG5 | 10/1/2032 | 3.250 | 98.343 | 3.400 | n | |
| AGM | 725 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DH7 | 6/1/2033 | 3.400 | 96.093 | 3.750 | n | |
| 1740 | MORRISTOWN TN UTGO | Callable 6/1/2026 @ 100 | 618635MP8 | 6/1/2033 | 3.250 | 96.602 | 3.550 | n | ||
| BAM | 155 | MONTGOMERY CNTY NY PUB IMPT LTGO BQ | Callable 10/1/2026 @ 100 | 613443TH3 | 10/1/2033 | 3.250 | 97.107 | 3.500 | n | |
| 35 | MORRISTOWN TN UTGO | Callable 6/1/2026 @ 100 | 618635MQ6 | 6/1/2034 | 3.500 | 98.225 | 3.650 | n | ||
| 70 | WEST KNOX TN UTILITY DIST REV BQ | Callable 6/1/2026 @ 100 | 953564HK0 | 6/1/2034 | 3.500 | 99.403 | 3.550 | n | ||
| BAM | 190 | MONTGOMERY CNTY NY PUB IMPT LTGO BQ | Callable 10/1/2026 @ 100 | 613443TJ9 | 10/1/2034 | 3.375 | 97.285 | 3.600 | n | |
| 300 | WEST KNOX TN UTILITY DIST REV BQ | Callable 6/1/2026 @ 100 | 953564HL8 | 6/1/2035 | 3.500 | 98.757 | 3.600 | n | ||
| AGM | 75 | COLLIN CNTY TX MUD #1 UTGO | Callable 2/15/2025 @ 100 | 194748EQ8 | 2/15/2036 | 3.750 | 100.000 | 3.749 | n | |
| AGM | 480 | CLARKE IA CMNTY SCH DIST UTGO | Callable 6/1/2025 @ 100 | 181756DL8 | 6/1/2036 | 3.600 | 95.591 | 3.950 | n | |
| 185 | WEST KNOX TN UTILITY DIST REV BQ | Callable 6/1/2026 @ 100 | 953564HN4 | 6/1/2037 | 3.625 | 98.996 | 3.700 | n | ||
| AGM | 40 | COLLIN CNTY TX MUD #1 UTGO | Callable 2/15/2025 @ 100 | 194748ES4 | 2/15/2038 | 3.750 | 98.642 | 3.850 | n | |
| 185 | MOUNT PROSPECT IL REF-SER B UTGO | Callable 12/1/2027 @ 100 | 622826WZ4 | 12/1/2038 | 3.875 | 98.279 | 4.000 | n | ||
| AGM | 125 | COLLIN CNTY TX MUD #1 UTGO | Callable 2/15/2025 @ 100 | 194748EX3 | 2/15/2043 | 4.000 | 100.000 | 3.999 | 4.000 | n |
| BAM | 15 | OWENSBORO KY WTR REVENUE REF & IMPT | Callable 9/15/2027 @ 100 | 691106MV7 | 9/15/2048 | 4.000 | 97.441 | 4.150 | n | |
| 250 | ROCHESTER MN HLTH CARE FACS REVENUE | Callable 5/15/2028 @ 100 | 771902HF3 | 11/15/2048 | 4.000 | 98.575 | 4.083 | 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($,000s) | Description | Call 1 | CUSIP | Mat Dt | Cpn(%) | Price | Yield(%) | YTM (%) | Taxable |
| 35 | WISCONSIN ST HSG & ECON DEV AUTH TXB | 976904XV9 | 5/1/2022 | 3.400 | 100.000 | 3.400 | y | |||
| ST INTERCE | 50 | LAKE CENTRAL IN SCH CORP TXBL UTGO | Callable 1/5/2022 @ 100 | 507689FD4 | 7/5/2022 | 4.020 | 102.329 | 3.250 | 3.347 | y |
| 275 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | 052397NE2 | 9/1/2027 | 5.000 | 111.351 | 3.500 | y | |||
| 305 | NEW YORK NY TAXABLE UTGO | Callable 10/1/2027 @ 100 | 64966MQN2 | 10/1/2029 | 3.050 | 91.638 | 4.000 | y | ||
| 255 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | Callable 9/1/2028 @ 100 | 052397NH5 | 9/1/2030 | 3.375 | 97.366 | 3.650 | y | ||
| 330 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | Callable 9/1/2028 @ 100 | 052397NJ1 | 9/1/2031 | 3.500 | 97.963 | 3.700 | y | ||
| 105 | EAU CLAIRE WI TAXABLE-REF-UTGO | Callable 4/1/2026 @ 100 | 278444HF4 | 4/1/2032 | 3.600 | 95.867 | 4.000 | y | ||
| 360 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | Callable 9/1/2028 @ 100 | 052397NL6 | 9/1/2033 | 3.500 | 96.612 | 3.800 | y | ||
| 400 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | Callable 9/1/2028 @ 100 | 052397NM4 | 9/1/2034 | 3.625 | 97.343 | 3.850 | y | ||
| 400 | AUSTIN TX TAXABLE-PUBLIC IMPT -LTGO | Callable 9/1/2028 @ 100 | 052397NN2 | 9/1/2035 | 3.625 | 96.620 | 3.900 | 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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