2002-09-25 CC Packet - Laserfiche WebLink

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I OFFICIAL STATEMENT No Final Official Statement will be prepared. The Issuer will provide the successful Underwriter with an adden- dum that together with this Preliminary Official Statement will be deemed the Final Official Statement by the Issuer. FUTURE FINANCING The City does not anticipate the need to finance any capital improvements with the issuance of general obliga- tion bonds within the next two months. BOND RATING The City currently does not have a general obligation bond rating assigned by Moody's Corporation Services or Standard & Poor's Corporation. The City will not apply for a rating on this issue. LITIGATION As of August 22, 2002, the City Attorney, James D. Hoeft, Barna, Guzy & Steffen, Ltd., indicated that no liti- gation is pending or threatened that would jeopardize the creditworthiness of the City. Claims or other actions in which the City is a defendant are covered by insurance or of insignificant amounts. CERTIFICATION The City will furnish, upon request, a statement to the effect that this Official Statement to the best of their knowledge and belief, as of the date of sale and the date of delivery, is true and correct in all material respects, and does not contain any untrue statements of a material fact or omit to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. LEGALITY Legal matters incident to the authorization and issuance of the Bonds are subject to the approving opinion of Bond Counsel, as to validity and tax exemption. A copy of such opinion will be available at the time of the de- livery of the Bonds. See Appendix A - Legal Opinion. Bond Counsel has not participated in the preparation of the Official Statement and is not passing upon its accu- racy, completeness or sufficiency. Bond Counsel has not examined, nor attempted to examine, or verify, any of the financial or statistical statements or data contained in this Official Statement, and will express no opinion with respect thereto. FINANCIAL ADVISOR I I I The Issuer has retained Juran & Moody, a division of Miller Johnson Steichen Kinnard, Inc. as financial advisor (the "Financial Advisor") in connection with the issuance of the Bonds. In preparing the Official Statement, the Financial Advisor has relied upon governmental officials, and other sources that have access to relevant data to provide accurate information for the Official Statement, and the Financial Advisor has not been engaged, nor has it undertaken, to independently verify the accuracy of such information. The Financial Advisor is not a pub- lic accounting firm and has not been engaged by the Issuer to compile, review, examine or audit any informa- tion in the Official Statement in accordance with accounting standards. Pursuant to Rule G-23 of the Municipal Securities Rulemaking Board, the Issuer reserves the right to invite the Financial Advisor to participate in the underwriting of the Bonds. If any entity or company associated with the Financial Advisor submits a competi- tive bid, it shall fax said bid to the Issuer (Fax No. 651-429-8629) at least fifteen (15) minutes prior to the dead- line otherwise established for the receipt of such a bid. -13-