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. lolCr No dealer, brolær, salesman or other person has been authonzed by the City or the Underwriters to give any information, or to make any representatioTLS other than those contained in this Preliminary Official Statement, and, if given or made, such other information or representatioTLS m:L$t not be relied upon as having been authorized by the City or the Underwriten. This Preliminary Official Statement does not coTLStitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale 0[. any of the Bonds in any jun"sdiction to any person to whom it is unlawful to make such offer, solicitation or sale in such jurisdiction. Certain information set forth herein has been obtained from the City and other sources which are believed to be reliable but i.! not guaranteed as to accuracy or completeness. and is not to be COTLStrued as a representation by the Underwriten. Any information and expressioTLS of opinion herein contained are subject to change without notice, and neither the delivery of this Preliminary Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City or other matters described herein since the date hereof. IN CONNECTION WITH THE OFFERING OF THE BONDS, THE UNDERWRIIERS Ai4Y OVER-AILOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE lv{ARKET PRICES OF THE BONDS AT A LEVEL ABOVE 11IAT WHICH }"fIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF CO¡HMENCED, U1Y BE DISCONTINUED AT ANY TIME. OFFICIAL STATEMENT Computation of Self-Supporting Debt Projections...... 18 Description of the Bonds """"""""""""""""""" 1 Authorized General Obligation Bonds ....................... 18 Anticipated Issuance of General Obligation Bonds..... 18 CITY ADMINISTRATION Other Obligations...................................................... 19 Elected Officials """"""""""""""""""""""""" 4 Pension Fund ............................................................ 19 Appointed OtTIcials.............................................. 4 Consultants and Advisors """""""""""""""""'" 4 FlN AJ."f C IAL INF 0 R.J.\1A TI 0 N General Fund Revenues and Expenditures................. 20 SELECTED DATA FROM THE OFFICL<U. General Fund Balance Sheet Comparison.................. 20 STATE~ŒNT """""""""""""""""""""""""" 5 Municipal Sales Ta.x History ..................................... 21 Financial Policies ...................................................... 22 INTRODUCTION................................................""'" 6 INVESThŒNTS...........................................:............. 22 PLAN OF FlNANCING . Ptupose................................................................ 6 OTHER RELEV AJ.'IT INFOR..\1ATION Refunded Bonds................................................... 6 Ratings ..................................................................... 24 Sources and Uses of Funds................................... 7 Tax Exemption.......................................................... 24 Qualified Tax-Exempt Obligations for BOND INFOIù\1ATION Financial Institutions........................................ 24 Authority for Issuance .......................................... 7 Tax Accounting Treatment of Discount and Security for Bonds................................................ 7 Premium on Certain Bonds............................... 25 Redemption of Bonds........................................... 7 Litigation .................................................................. 25 ? Book-Entry-Only Systetn...................................... 7 Registration and Qualification of Bonds Paying AgentlRegistrar......................................... 9 for Sale ............................................................ 25 Transfer, Exchange and Registration .................... 9 Legal Investments and Eligibility to Secure Limitation on Transfer of Bonds Called Public Funds in Texas...................................... 26 for Redetnption """""""""""'.""'."""""'" 9 Legal Matters............................................................ 26 Record Date for Interest Payment .......m............... 9 . Verification ofMathematica1 Computations............... 26 Authenticity of Financial Data and Other BOND INSURANCE................................................. 10 Infonnation ...................................................... 26 Financial Advisor...................................................... 27 TAX INFORMATION Underwriting................................... ........... """"""'" 27 Ad Valoretn Ta.x Law.......................................... 11 Miscellaneous ........................................................... 27 The Ta.x Code As it Applies to the City ............... 11 Valuation, Exemptions and General Obligation SCHEDULE Debt.......................................................... 12 SchedlÙe of Refunded Bonds....................................... I Taxable Assessed Valuations by Category ........... 13 Valuation and Funded Debt History..................... 14 APPENDICES Ta.x Rate, Levy and Collection History ................ 14 General Information Regarding the City """""""""" A Ten Largest Taxpayers """""""""""""""""""" 15 Excerpts From the Armual Financial Report ............... B Ta.x Rate Limitation """'..................................." 15 Form of Bond Counsel's Opinion................................ C Specimen Municipal Bond Guaranty Insurance DEBT INFOR..'\fATION Policy............................................................... D Debt Service Requirements ................................. 16 Assessed Valuations, Tax Rates, Direct and The cover page hereof, this page, the appendices included Overlapping Debt Payable From Ad Valoretn herein and any addenda, supplement or amendment hereto, Ta.xes ("Ta.x Debt") and Authorized But are part of the OtTIcial Statetnent. Unissued Bonds of Overlapping Ta.xing Jurisdictions ................................... 17 General Obligation Debt Interest and Sinking Fund Budget Projection 18