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 Description Call 1 CUSIP Mat Dt Cpn Price Yield YTM Taxable
115 FEDERAL FARM CREDIT BANK 31331VHU3 3/25/2020 5.150 101.035 1.500 n
BAM 50 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RBY1 1/15/2023 2.000 102.101 1.300 n
BAM 90 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RBZ8 7/15/2023 2.000 102.258 1.350 n
BAM 50 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCB0 7/15/2024 3.000 106.832 1.450 n
BAM 65 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCC8 1/15/2025 3.000 107.299 1.500 n
ST AID WIT 245 WABASH CITY IN SCHS BLDG CORP REV BQ Callable 7/15/2021 @ 100 929420DE4 7/15/2025 3.300 103.214 1.250 2.677 n
115 MORAINE PARK WI TECH CLG DIST UTGO BQ 616454YW8 4/1/2026 3.000 108.983 1.500 n
BAM 140 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCG9 1/15/2027 3.000 108.766 1.680 n
SD CRED PR 140 PAINESVILLE OH LOCAL SCH DIST UTGO BQ 695696DA9 12/1/2027 3.000 110.019 1.650 n
BAM 145 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCJ3 1/15/2028 3.000 109.528 1.730 n
420 OAK CREEK WI REF UT GO BQ Callable 4/1/2027 @ 100 671137A49 4/1/2028 3.000 109.528 1.600 1.752 n
300 PORT ORANGE FL REF UTGO Callable 4/1/2026 @ 100 735031BU9 4/1/2028 4.000 114.973 1.500 2.030 n
BAM 170 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCK0 7/15/2028 3.000 109.909 1.750 n
BAM 75 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCL8 1/15/2029 3.000 110.002 1.800 n
1000 MURFREESBORO TN  UTGO Callable 6/1/2023 @ 100 626524L59 6/1/2029 3.000 105.395 1.400 2.361 n
BAM 95 WELLS CNTY IN PUBLIC LIBRARY LTGO BQ 94973RCM6 7/15/2029 3.000 110.045 1.850 n
65 SOUTH OGDEN CITY UT SALES FRANCHISE Callable 11/1/2029 @ 100 83907TAL0 5/1/2030 2.000 100.000 2.000 2.000 n
25 BALTIMORE MD REVENUE REF Callable 1/1/2025 @ 100 059231ZQ6 7/1/2030 5.000 117.759 1.350 3.021 n
65 KANSAS ST DEPT OF TRANSPRTN HIGHWAY Callable 9/1/2024 @ 100 485424PT6 9/1/2030 5.000 116.872 1.300 3.134 n
450 WOODBRIDGE TWP NJ  UTGO Callable 10/15/2026 @ 100 978862Y46 10/15/2030 2.000 99.000 2.104 n
100 OLYMPIA WA REF LTGO Callable 12/1/2029 @ 100 681504MM5 12/1/2030 2.000 100.000 2.000 2.000 n
50 LAKE FOREST IL REF UTGO Callable 12/15/2027 @ 100 509696VY3 12/15/2030 2.125 99.756 2.150 n
AGM 105 GIBRALTAR WI REF-SER B UTGO BQ Callable 6/1/2028 @ 100 37476VBS6 6/1/2031 2.000 98.986 2.100 n
SD CRED PR 190 LIBERTY-BENTON OH LOC SCH DIST UTGO Callable 11/1/2029 @ 100 530260DE5 11/1/2031 4.000 119.306 1.850 2.148 n
515 KENNEWICK WA WTR & SWR REVENUE Callable 12/1/2029 @ 100 489746HX8 12/1/2031 4.000 117.967 2.000 2.275 n
200 OLYMPIA WA REF LTGO Callable 12/1/2029 @ 100 681504MN3 12/1/2031 2.000 98.947 2.100 n
BAM 235 BELMONT FWSD #1 TX UTGO Callable 3/1/2024 @ 100 080375JS8 3/1/2032 2.250 99.469 2.300 n
AGM 450 GIBRALTAR WI REF-SER B UTGO BQ Callable 6/1/2028 @ 100 37476VBT4 6/1/2032 2.125 99.727 2.150 n
AGM 180 PINAL CNTY AZ USD #44 UTGO Callable 7/1/2028 @ 100 72220TDV8 7/1/2032 4.000 116.499 1.900 2.464 n
250 QUINCY MA  LTGO Callable 12/1/2028 @ 100 748508SP4 12/1/2032 2.125 99.157 2.200 n
175 LAKE FOREST IL REF UTGO Callable 12/15/2027 @ 100 509696WA4 12/15/2032 2.250 99.441 2.300 n
245 KENNEWICK WA WTR & SWR REVENUE Callable 12/1/2029 @ 100 489746HZ3 12/1/2033 4.000 116.983 2.100 2.546 n
80 QUINCY MA  LTGO Callable 12/1/2028 @ 100 748508SQ2 12/1/2033 2.250 99.405 2.300 n
30 HICKORY NC  UTGO Callable 9/1/2029 @ 100 429056NQ3 9/1/2034 3.000 106.511 2.250 2.469 n
40 QUINCY MA  LTGO Callable 12/1/2028 @ 100 748508SR0 12/1/2034 2.375 99.686 2.400 n
BAM 190 BELMONT FWSD #1 TX UTGO Callable 3/1/2024 @ 100 080375JV1 3/1/2035 2.500 98.749 2.600 n
150 BARTLETT IL REF UTGO Callable 12/1/2028 @ 100 069338PR6 12/1/2037 3.000 101.972 2.750 2.859 n
BAM 250 BELMONT FWSD #1 TX UTGO Callable 3/1/2024 @ 100 080375JY5 3/1/2038 2.750 99.288 2.800 n
BAM 25 BELMONT FWSD #1 TX UTGO Callable 3/1/2024 @ 100 080375KB3 3/1/2041 3.000 100.000 2.999 3.000 n
175 QUINCY MA  LTGO Callable 12/1/2028 @ 100 748508TB4 12/1/2044 2.750 99.105 2.800 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 Description Call 1 CUSIP Mat Dt Cpn Price Yield YTM Taxable
220 CHARLES CNTY MD TAXABLE UTGO 1598076Y7 3/1/2020 3.000 100.343 1.400 y
100 BANKUNITED NA, FL 066519LP2 3/18/2020 1.700 100.000 1.700 y
65 ANNAPOLIS MD TAXABLE-REF-SER B UTGO 0357712Q6 8/1/2021 2.000 100.443 1.720 y
AGM 145 ROCKWALL TX ECON DEV CORP TAXABLE 774283BX2 8/1/2027 3.000 104.128 2.400 y
AGM 630 ROCKWALL TX ECON DEV CORP TAXABLE 774283BY0 8/1/2028 3.000 103.833 2.500 y
325 FRANKLIN WI UT GO TAXABLE Callable 3/1/2026 @ 100 355185PS2 3/1/2029 3.125 105.047 2.250 2.508 y
AGM 155 ROCKWALL TX ECON DEV CORP TAXABLE Callable 8/1/2028 @ 100 774283BZ7 8/1/2029 3.000 103.053 2.600 2.637 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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