Kentucky borrowers continue to take advantage of record low interest rates. Today we are highlighting a couple of our Northern Kentucky borrowers that have recently sold bonds. First, Sanitation District No.1 refinanced two prior bond issues totaling $61.5 million, generating savings of over $14 million. The true interest cost (TIC) was 1.57%. Secondly, Northern Kentucky Water refinanced two prior bond issues totaling $22.3 million, generating savings of $5.8 million. The TIC for NKY Water was 1.71%. Lastly, RSA was the first Kentucky municipal advisory firm to issue taxable bonds to advance refund school bond issues. Campbell and Kenton County School Districts both took advantage of record low rates to refinance prior bonds. Thus far, nine school districts have issued advance refunding bonds with RSA saving over $8 million. A summary of bonds issues where RSA served as municipal advisor since September 1st is below: