RE: $71,996,737*        ***PJC is 50% Co-Mgr***
Centinela Valley Union High School District
(County of Los Angeles, California)
General Obligation Bonds
Election of 2010, 2012 Series B

$54,565,000*
Current Interest Bonds

MOODY’S: Aa3                S&P: AA-                FITCH:
A1 Underlying           A+ Underlying

Assured Guaranty Municipal Corp. Insured

DATED:05/31/2012   FIRST COUPON:02/01/2013

DUE: 08/01

AND:

$17,431,737*
Capital Appreciation Bonds

MOODY’S: Aa3                S&P: AA-                FITCH:
A1 Underlying           A+ Underlying

Assured Guaranty Municipal Corp. Insured

DATED:05/31/2012

DUE: 08/01

The Award is expected on Friday, May 18, 2012.

Delivery is firm for Thursday, May 31, 2012.

This Issue is book entry. This issue is clearing through DTC.

A reasonable number of preliminary statements are available from:
Cabrera Capital Markets, LLC
Piper Jaffray

By: Cabrera Capital Markets, LLC  Chicago, IL

RE: $35,000,000*
Santa Clarita Community College District (Los Angeles County, CA)
General Obligation Bonds, Election of 2006, Series 2012

MOODY’S:                    S&P: AA                 FITCH: AA

DATED:05/30/2012   FIRST COUPON:08/01/2012

DUE: 08/01

Delivery is firm for Wednesday, May 30, 2012.

This Issue is book entry. This issue is clearing through DTC.

CONTACT:
Piper Jaffray

By: Piper Jaffray  Minneapolis, MN

$85,155,000*
MARIN MUNICIPAL WATER DISTRICT FINANCING AUTHORITY
(MARIN COUNTY, CALIFORNIA)
WATER REVENUE BONDS, 2012 SERIES A
(SUBORDINATE LIEN)

MOODY’S: NR                 S&P: AA                 FITCH: AA+
DATED:06/20/2012   FIRST COUPON:01/01/2013
DUE: 07/01
POS AVAILABLE ELECTRONICALLY AT:
DELAROSA IS CO MANAGER

SAN YSIDRO SCHOOL DISTRICT
General Obligation Bonds, 1997 Election, Series G
(San Diego County, California)

MOODY’S:                    S&P: AA-                FITCH:
(A+ underlying)

Assured Guaranty Municipal Corp. Insured

DATED:05/31/2012

DUE: 08/01
Delivery is firm for Thursday, May 31, 2012.

This Issue is book entry. This issue is clearing through DTC.

A reasonable number of final statements are available from:

De La Rosa & Co.

By: De La Rosa & Co.  Los Angeles, CA

NORTH CITY WEST SCHOOL FACILITIES FINANCING AUTHORITY
SUBORDINATE SPECIAL TAX REVENUE BONDS
SERIES 2012A

MOODY’S:                    S&P: AA-                FITCH:
(A underlying)

Assured Guaranty Municipal Corp. Insured

DATED:06/06/2012   FIRST COUPON:09/01/2012

DUE: 09/01

Delivery is firm for Wednesday, June 6, 2012.

This Issue is book entry. This issue is clearing through DTC.

De La Rosa & Co.

By: De La Rosa & Co.  Los Angeles, CA