OPTIONAL BIDDING PROGRAM

IDENTIFYING, SELECTING AND QUALIFYING MUNICIPAL BOND ISSUERS FOR BOND INSURANCE, PUBLISHING THE QUALIFICATIONS OF THE MUNICIPAL BOND ISSUE FOR INSURANCE, AND ASSISTING MUNICIPAL BOND ISSUERS IN THE PREPARATION OF NOTICE OF SALE AND INVITATION FOR BIDS, NOTIFYING PROSPECTIVE UNDERWRITERS, BOND DEALERS, BANKS AND INVESTMENT FIRMS OF THE AVAILABILITY AND COST OF THE INSURANCE; ENTERING INTO A COMMITMENT WITH SAID UNDERWRITERS, BOND DEALERS, BANKS AND INVESTMENT FIRMS TO PROVIDE THE INSURANCE, PROVIDING INSURANCE GUARANTEE TO THE SUCCESSFUL BIDDER