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$250,000,000*

STATE PUBLIC WORKS BOARD
OF THE STATE OF CALIFORNIA
SUBSERIES I-2
(FEDERALLY TAXABLE BUILD AMERICA BONDS)
--                                                                          --

         ***********************  ATTENTION  **********************
  THE BONDS ARE TAXABLE MUNICIPAL SECURITIES AND THIS OFFERING IS
  SUBJECT TO REGULATION BY THE MUNICIPAL SECURITIES RULEMAKING BOARD.  ALL
  ACTIVITY UNDERTAKEN WITH RESPECT TO THIS OFFERING MUST BE SUPERVISED BY A
  MUNICIPAL SECURITIES PRINCIPAL.

    MOODY'S: Baa2                     S&P: A-              FITCH: BBB-

      DATED: 12/01/2009        FIRST COUPON: 05/01/2010

      DUE: 11/01

                                                                     TAKEDOWN
 MATURITY            AMOUNT*    COUPON        PRICE                        

11/01/2034          250,000M                                            -

                           -------------------------                            

                              TAXABLE INFORMATION                               

 MATURITY           SPREAD VS TREASURY                   TREASURY COUPON
                    Years Over                           Coupon Maturity

11/01/2034             +410                               4.375 11/15/2039

CALL FEATURES: 

PRO RATA SINKING FUND SCHEDULE

2034 TERM BOND

11/01/2028          2,430
11/01/2029         31,585
11/01/2030         36,285
11/01/2031         39,455
11/01/2032         42,890
11/01/2033         46,645
11/01/2034         50,710

* - APPROXIMATE SUBJECT TO CHANGE

--                                                                          --
PRIORITY OF ORDERS AS FOLLOWS:
1. Group Net
2. Member

PRIORITY POLICY:

The Senior Manager requests the identification of all priority orders at the
time the orders are entered.

Order period until 4:00 P.M., E.D.T., today, Wednesday, 11/18/09.
Please enter orders on (212) 336-7152, or if available use Electronic Order Entry.
The managers reserve the right to terminate or extend the order period prior to
or later than the above mentioned time and date and to confirm bonds at their
discretion.

The compliance addendum MSRB Rule G-11 will apply.

The award is expected on Thursday, November 19, 2009.

Delivery is expected on December 1, 2009.

This issue is book entry.  DTC is pending.

We can help you get the top rates available.
With over 20 years of experience, a Durig Advisor is standing by. Let’s talk!

California Municipal News:

Riverside County Economy - Google News
©2012 Google

Macomb sees its future as waterfront playground - The Detroit News
JOBS: Some Inland cities have enviable jobless rates - Press-Enterprise
ECONOMY: Unemployment dips in April due to seasonal hiring trends - North County Times
Riverside County's Unemployment Rate Drops, Despite Job Losses - Valley News
Groups Join To Promote Innovation, Entrepreneurship in Riverside County - socalTech.com
Supe: Town Will Fight "Tooth And Nail" To Keep County Center, Jail In Sewer ... - Patch.com
Study: health law would create 100000 jobs in California - U-T San Diego
INDUSTRY: Riverside County to establish export center - Press-Enterprise
Facebook's IPO Testifies to Silicon Valley's Power but Does Little for Other ... - City Watch
REGION: Economists say Riverside County property values to dip 2.1 percent - North County Times

Riverside County is a county located in the southeastern part of the U.S. state of California, stretching from Orange County to the Colorado River, which forms the border with Arizona. The County derives its name from the city of Riverside, which is the county seat.

Riverside County is part of the Southern California Inland Empire region, also referred to as the Riverside-San Bernardino Metropolitan Area. The population of Riverside County was 1,545,387 in 2000, and by 2008 the U.S. Census Bureau estimated the population had risen to 2,100,516.

Geographically, the county is mostly desert. Most of Joshua Tree National Park is located in the county. Riverside County lies inland of Los Angeles, and south of San Bernardino. Large numbers of Los Angeles workers have moved to the county in recent years to take advantage of relatively affordable housing. Alongside neighboring San Bernardino County, it was one of the fastest growing parts of the Inland Empire prior to the recent changes in the regional economy. This spawned a wave of toll road construction in the area in the 1990s, starting with the addition of toll commuter lanes to the State Route 91 freeway, the main traffic artery to the western metropolitan area. In addition, smaller, but significant, numbers of people have been moving into southern Riverside County from the San Diego metropolitan area. The cities of Temecula and Murrieta account for 20% of increase in population of Riverside County between 2000 and 2007.

The famous resorts of the Coachella Valley such as Indian Wells, La Quinta, Rancho Mirage, Palm Springs and Palm Desert are located in Riverside County. Indio is the center of an important date growing region.

Bond Indexes:

Government Bond Indexes:
……30 Year Treasury In Yield ^TYX 2.794 [0.00]
……10 Year Treasury In Yield ^TNX 1.735 [0.00]

10 Year Treasury Graph In Yield:

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Corporate Bond Indexes:
……C- Bond Index 000013.SS 153.201 [+0.133]
……Corporate Bond Index 399481.SZ 126.51 [+0.093]
……Dow Jones Corporate Bond Index ^DJCBP 0.00 [N/A]
……Dow Jones Corporate Bond Total ^DJCBT 0.00 [N/A]

More Municipal Bond Information:

Municipal Bond Daily Offerings
(This can include new California Municipal Bond issues.)

Riverside County, California
Map
Location in the state of California
California’s location in the U.S.
Statistics
Founded	1893
Seat	Riverside
Largest city	Riverside
Area - Total - Land - Water	7,303 sq mi (18,915 km²) 7,207 sq mi (18,667 km²) 96 sq mi (248 km²), 1.31%
PopulationEst. - (2007) - Density	2,073,571 215/sq mi (83/km²)
Website: countyofriverside.us
Named for: Riverside, California