2003-06-25 CC Packet - Laserfiche WebLink

Home Browse Search

OFFICIAL STATEMENT No Final Official Statement will be prepared. The Issuer will provide the successful Underwriter with an ad- dendum that together with this Preliminary Official Statement will be deemed the Final Official Statement by the Issuer. NO CONTINUING DISCLOSURE The Securities and Exchange Commission (the "SEC") has promulgated certain amendments to Rule ISc2-12 under the Securities Exchange Act of 1934 (17 c.F.R. ~240.15c2-12) (the "Rule") that make it unlawful for an underwriter to participate in the primary offering of municipal securities in a principal amount of $1,000,000 or more unless, before submitting a bid or entering into a purchase contract for the Bonds, it has reasonably de- termined that the issuer or an obligated person has undertaken in writing for the benefit of the bondholders to provide certain disclosure information to prescribed information repositories on a continuing basis or unless and to the extent the offering is exempt from the requirements of the Rule. The principal amount of the Bonds is less than $1,000,000. The City hereby represents that it has not issued before the date of issuance of the Bonds, and that it reasonably expects that it will not issue after the date of issuance of the Bonds, other Bonds of the City of substantially the same security and providing financing for the same general purpose or purposes as the Bonds. Consequently, this Board hereby finds that the Rule is inapplicable to the Bonds, because the aggregate principal amount of the Bonds and any other bond issue to be integrated with the Bonds thereunder is less than $1,000,000. Therefore, the City will not enter into any undertaking to provide continuing disclosure of any kind with respect to the Bonds. (Remainder of page left intentionally blank) -12-