Ord 1993-037 - Laserfiche WebLink

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1298G- No dealer, broker, saÙ?sman or other person has been authorized by the City or the Unde"",riters to give any information, or to make any representations other than those contained in this Official Statement, and, if given or made, such other Înjòrmation or representations must not be relied upon as having been authorized by the City or the Undenvriters. This Official Statement does not consntUte an offer to sell Bonds in any jurisdiction to any person to whom it is unlm~ful to make such offer in such jurisdicnon. Certain infoTllwtion set forth herein has been obtained from the City and other sources which are believed to be reliable but is not guaranteed as to accuracy or completeness, and is not to be construed as a representation by the Undenvriters. Any informanon and expressions of opinion herein contained are subject to change without nonce, and neither the delivery of this Official Statement nor any sale made hereunder shall, Lmder arey circumstances, create any implication that there Iws been nO change in the affairs of the City or other matters described herein since the date hereof. TN CONNEr:TION WTTH THE OFFERING OF THE BONDS, THE UNDERWRITERS MA.Y OVER-ALLOT OR EFFECT TRANSACTIONS WHTCH STABlLlZE OR ,'vIAlNTAlN THE MARKET PRICES OF THE BONDS AT A LEVEL ABOVE THAT WHTCH MTGHT OTHER~VlSE PREVAIL IN THE OPEN MARKET. SUCH STABlLlZING, IF COMMENCED, ivlAY BE DISCONTINUED AT ANY TIAIE. TABLE OF CONTENTS OFFICIAL STATEMENT Assessed Valuations, Tax Rates, Outstanding Debt and Description of the Bonds ............. 1 Authorized But Unissued Bonds of Overlapping Taxing Jurisdictions. . . . . . . . . . . . . " 19 CITY ADMINISTRATION Estimated Direct and Overlapping Funded Debt Elected Officials .................. 4 Payable From Ad Valorem Taxes. . . . . .. 19 AppointedOfficials................. 4 Interest and Sinking Fund Budget Projection. . .. 19 Consultants and Advisors. . . . . . . . . . . .. 4 Computation of Self-Supporting Debt ........ 20 Authorized General Obligation Bonds. . . . . . .. 20 SELECTED DATA FROM THE OFFICIAL Anticipated Issuance of General Obligation Debt 20 STATDfENT ..............,.... 5 Funded Debt Limitation ................ 20 Other Obligations ............. . . . . . .. 20 INTRODUCTION ............... .'.'.. . 6 Pension Fund....................... 20 PLAN OF FINANCING FINANCIAL INFORMATION Purpose........................ 7 General Fund Revenues and Expenditure History. 21 RefundedBonds................... 7 Municipal Sales Tax Histbry ............. 22 Sources and Application of Funds. . . . . . .. 8 Financial Administration. . . . . . . . . . . . . . .. 22 Financial Policies .................... 22 BOND INFORMATION Authority for Issuance. . . . . . . . . . . . . .. 8 OTHER INFORMATION Description of Bonds................ 8 Ratings ............,............. 23 Security for Bonds . . . . . . . . . . . . . . . . . 8 Tax Exemption...................... 23 Redemption of Bonds .............., 8 Tax Accounting Treatment of Discount Bonds. .. 23 Book-Entry-Only System ............. 9 Litigation ......................... 24 Paying Agent/Registrar .............. 10 Registration and Qualification of Bonds for Sale 24 Transfer, Exchange and Registration ...... 10 Legal Investments and Eligibility to Secure Public Limitation on Transfer of Bonds Called for Funds in Texas .................. 24 Redemption...,.............. 10 Legal Opinions and No-Litigation Certificate. . .. 24 Record Date for Interest Payment. . . . . . ., 11 ' Verification of Arithmetical and Mathematical Bondholders' Remedies .............. 11 Computations ................... 25 Financial Advisor .................... 25 BOND INSURANCE .................. 12 Underwriting....................... 25 Miscellaneous ...................... 25 TAX INFOR:\IATION Ad Valorem Tax Law . . . . . . . . . . . . . .. 13 SCHEDULE OF REFUNDED BONDS ..... Schedule I Ad Valorem Tax Law as it Applies to the City ...............,...... 13 APPENDICES Valuation, Exemptions and Debt Obligations 14 General Infonnation Regarding the City ...... A Taxable Assessed Valuations by Category. .. 15 Excerpts From the Annual Financial Report. . .. B Valuation and Funded Debt History. . . . . .. 16 Fonn of Bond Counsel's Opinion .......... C Tax Rate, Levy and Collection History. . . .. 16 Specimen Municipal Bond Guaranty Ten Largest Taxpayers. . . . . . . . . . . . .. 17 Insurance Policy ................. D Tax Rate Limitation ................ 17 The cover page hereof, this page, the appendices included DEBT INFORMATION herein and any addenda, supplement or amendment hereto, Debt Service Requirements. . . . . . . . . . .. 18 are part of the Official Statement. 3