Laserfiche WebLink
Attachment 5 - Risk Factors <br />Property Taxes: Property tax levies shown in this Finance Plan are based on projected debt service <br />and other revenues. Final levies will be set based on the results of sale. Levies should be reviewed <br />annually and adjusted as needed. The debt service levy must be included in the preliminary levy <br />for annual Truth in Taxation hearings. Future Legislative changes in the property tax system, <br />including the imposition of levy limits and changes in calculation of property values, would affect <br />plans for payment of debt service. Delinquent payment of property taxes would reduce revenues <br />available to pay debt service. <br />General: In addition to the risks described above, there are certain general risks associated with <br />the issuance of bonds. These risks include, but are not limited to: <br /> Failure to comply with covenants in bond resolution. <br /> Failure to comply with Undertaking for continuing disclosure. <br /> Failure to comply with IRS regulations, including regulations related to use of the proceeds <br />and arbitrage/rebate. The IRS regulations govern the ability of the City to issue its bonds as <br />tax-exempt securities and failure to comply with the IRS regulations may lead to loss of tax- <br />exemption. <br /> <br /> <br />Northland Securities, Inc. Page 9 <br /> <br />