MUNICIPAL BONDS On or about Tuesday, March 12, 2019 D.A. Davidson & Co. expects to offer: $5,685,000* K-12 School District No. 28 (St. Ignatius) Lake County, Montana General Obligation School Building Bonds, Series 2019 New Issue Bank Qualified S&P Global Ratings: "A+" Maturities*: July 1, 2020-2039 Book Entry Only Tax-Exempt: In the opinion of Dorsey & Whitney school to include a new gymnasium, weight room LLP, Bond Counsel, under existing laws, regulations, locker rooms, restrooms, shop and technology rulings and decisions, assuming compliance with space, and a family and consumer science room; certain covenants, interest on the Bonds is excludable related improvements and costs (collectively, the from gross income of the recipient for purposes of "Project"); and (ii) paying the costs associated with deral income taxation under Section 103 of the the sale and issuance of the Bonds Internal Revenue Code of 1986, as amended (the Redemption:The Bondsmaturingonorafter July 1,2030 Code"), and for State of Montana individual income are subject to redemption at the option of the District orn taxation. Interest is not an item of tax preference July 1, 2029 and on any date thereafter at a price equal for purposes of the federal alternative minimum to the principal amount being redeemed plus interest tax imposed by Section 55 of the Code. Interest accrued to the date of redemption, without premium. on the Bonds is not excludable, however, from the computation of income for purposes of the Montana on July 1 of each year, with maturities in 2020 corporate income tax and the Montana alternative through 2039. Interest rates on the Bonds are corporate income tax. The District will designate the expected to be established on or about Tuesday Bonds "qualified tax-exempt obligations within the meaning of Section 265(b)(3) of the Code Purpose: The proceeds of the Bonds will be used for District payable from the proceeds of an ad valorem the purpose of (i) together with other legally available tax that the District will convenant to levy annually funds, paying the costs of designing, constructing, on all taxable property within the District, without equipping, and furnishing improvements to school buildings on the St. Ignatius Public Schools campus including building additions to the middle and high Maturities/lInterest Rates: The Bonds will mature March 12, 2019* Security: The Bonds are general obligations of the limitation as to rate or amount. Preliminary: subject to change Please contact D.A. Davidson & Co. in advance for expected yield information The Bonds are subject to availability and to the acceptance of an offer to purchase. This is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering of these securities is made only by the Official Statement, copies of which are available from DA DAVIDSON D.A. Davidson & Co. member SIPC D.A. Davidson & Co. (406) 543-8244 or (800) 332-1615 283 W. Front St., Suite 101 Missoula, MT 59802 (406) 752-6212 or (800) 955-2208 200 First Ave. E., K-M Building Kalispell, MT 59901