Laserfiche WebLink
No dealer, broker, sales representative or any other person has been authorized by the County or the <br />Underwriters to give any information or to make any representations, other than those contained in this Official <br />Statement, and, if given or made, such other information or representations must not be relied upon as having <br />been authorized by the foregoing. This Official Statement does not constitute an offer to sell or the solicitation <br />of an offer to buy and there shall be no sale of the Series 1996 Bonds by any person in any jurisdiction in which <br />it is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been <br />obtained from the County, the Bond Insurer and other sources which are believed to be reliable, but is not <br />guaranteed as to accuracy or completeness nor is such information to be construed as a representation by the <br />Underwriters or, as to information from other sources, the County. The information and the expressions of <br />opinions contained herein are subject to change without notice and neither the delivery of this Official Statement <br />nor any sale made hereunder shall, under any circumstances, create any implication that there has been no <br />change in the affairs of the County, the System, or the Bond Insurer since the date hereof or the earliest date <br />as of which such information is given. <br />IN CONNECTION WITH THE OFFERING OF THE SERIES 1996 BONDS, THE UNDERWRITERS MAY <br />OVERALIAT OR EFFECT TRANSACTIONS THAT MAY STABILIZE OR MAINTAIN THE MARKET <br />PRICE OFTHE SERIES 1996 BONDS AT LEVELS ABOVE THOSE WHICH MIGHT OTHERWISE PRE- <br />VAIL IN THE OPEN MARKET. SUCH STABILIZATION, IF COMMENCED, MAY BE DISCONTINUED <br />AT ANY TIME. <br />TABLE OF CONTENTS <br />INTRODUCTION................................................................ 1 <br />PURPOSE OF THE SERIES 1996 BONDS ............................................. 2 <br />DESCRIPTION OF THE SERIES 1996 BONDS ......................................... 2 <br />General................................................................ 2 <br />Mandatory Redemption...................................................... 2 <br />OptionalRedemption....................................................... 3 <br />Notice of Redemption..................................................... 4 <br />Registration, Transfer, and Exchange ............................................ 4 <br />SECURITY AND SOURCES OF PAYMENT ........................................... 4 <br />Pledged Funds.. .................................................. .... 4 <br />Pledge of 1989 Special Assessment Revenues ...................................... 6 <br />Pledge of 1990 Special Assessment Revenues .... .. 7 <br />Extraordinary Mandatory Redemption of Series 1993B Bonds .......................... 8 <br />Pledge of 1996 Special Assessment Revenues ...................................... 8 <br />RateCovenant............................................................. 8 <br />ReserveAccount........................................................... 9 <br />Flow of Funds for the Bonds...............................................10 <br />Additional Parity Bonds ...................................................... 11 <br />Junior Lien Bonds.......................................................... 12 <br />ESTIMATED SOURCES AND USES OF FUNDS ....................................... 12 <br />MUNICIPAL BOND INSURANCE AND DEBT SERVICE RESERVE FUND POLICY ........... 13 <br />BondInsurance ..................................................... 13 <br />Debt Service Reserve Fund Policy .............................................. 13 <br />Ratings.................................................................. 14 <br />