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
90 FORT DODGE IA REF-SER A UTGO BQ 347226XF4 6/1/2025 4.000 116.043 0.240 n
BAM 20 AUBURN IN SEWAGE WKS REVENUE REF 050339DX5 7/1/2025 2.000 106.919 0.420 n
25 SIENNA PLANTATION TX LEVEE IMPT DIST 826204VV8 9/1/2025 2.250 107.256 0.650 n
BAM 90 AUBURN IN SEWAGE WKS REVENUE REF 050339DY3 1/1/2026 2.000 107.541 0.450 n
BAM 225 HAYS CNTY TX WATER CONTROL AND BQ Callable 9/1/2025 @ 100 421033FC0 9/1/2026 4.000 115.439 0.600 1.151 n
235 NAPOLEON OH WTR SYS REV REF BQ Callable 12/1/2025 @ 100 63072RBN0 12/1/2027 1.000 101.671 0.650 0.750 n
240 NAPOLEON OH WTR SYS REV REF BQ Callable 12/1/2025 @ 100 63072RBP5 12/1/2028 1.000 101.191 0.750 0.843 n
AGM 100 UTAH ST UNIV REVENUE Callable 4/1/2025 @ 100 917563HL5 4/1/2032 3.250 109.218 1.000 2.311 n
100 NAPOLEON OH WTR SYS REV REF BQ Callable 12/1/2025 @ 100 63072RBX8 12/1/2036 2.000 101.862 1.600 1.864 n
235 IDAHO ST BOND BANK AUTH REVENUE SER Callable 9/15/2027 @ 100 4511522Y7 9/15/2037 4.000 118.194 1.150 2.642 n
180 FORT DODGE IA REF-SER A UTGO BQ Callable 6/1/2029 @ 100 347226XW7 6/1/2040 1.600 100.000 1.600 1.600 n
225 WASHOE CNTY NV SCH DIST Callable 6/1/2031 @ 100 940859KB6 6/1/2042 2.000 99.138 2.050 n
775 ASHLAND MA  LTGO Callable 1/15/2029 @ 100 044357UD1 1/15/2046 2.000 100.737 1.900 1.963 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
415 ROCHESTER MN ELEC UTILITY REV TXBLE 77158PGJ5 12/1/2023 2.000 104.894 0.250 y
10 ROCHESTER MN ELEC UTILITY REV TXBLE Callable 12/1/2030 @ 100 77158PGY2 12/1/2037 2.000 99.290 2.050 y
50 SCOTTS BLUFF CNTY NE SD #16 TAXABLE Callable 12/1/2029 @ 100 810164CZ4 12/1/2039 3.309 110.579 2.000 2.596 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.

The firm may only conduct business in jurisdictions where it is registered or is exempt from registration. For more information on where the firm may conduct business please see important disclosures.