AgdaPkt 2006-01-23 - Laserfiche WebLink

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7c?-¿Ç;7 Bond Counsel's opinions may be affected by actions taken (or not taken) or events occurring (or not occurring) after the date hereof. Bond Counsel has not undertaken to determine, or to inform any person, whether any such actions or events are taken or do occur. The Indenture and the Tax Certificate relating to the Bonds permit certain actions to be taken or to be omitted if a favorable opinion of Bond Counsel is provided with respect thereto. Bond Counsel expresses no opinion as to the exclusion from gross income of the interest on the Bonds for federal income tax purposes if any such action is taken or omitted based upon the advice of counsel other than Nossaman, Guthner, Knox & Elliott, LLP. Absence of Litigation There is no action, suit or proceeding known to be pending or threatened, restraining or enjoining the issuance or sale of the Bonds or the execution of the Indenture, or in any way contesting or affecting the validity of the foregoing or any proceedings of the City taken with respect to any of the foregoing. RATINGS Moody's Investors Service ("Moody's"), Standard & Poor's Ratings Group ("S&P") and Fitch Ratings ("Fitch") have assigned their underlying ratings of "_," "-" and "_," respectively, to the Bonds. Such ratings reflect only the views of the rating agencies, and an explanation of the significance of these ratings should be obtained from the rating agencies. There is no assurance that any rating will continue for any given period of time or that any rating will not be revised downward or withdrawn entirely by the issuing rating agency if, in its judgment, circumstances so warrant. Neither the Authority nor the City are obligated to maintain any ratings on the Bonds. Any downward revision or withdrawal of the rating may have an adverse effect on the market price of the Bonds. UNDERWRITING The Bonds were purchased by (the "Underwriter") pursuant to a competitive sale held on ,2006. The Underwriter has agreed to purchase the Bonds at a price of $ (representing the aggregate principal amount of the Bonds of $ less a net original issue discount of $ less an underwriter's discount of $ , such price being % of the principal amount of the Bonds. The Bonds may be offered and sold to certain dealers and others at prices lower than the offering prices stated on the cover page hereof. The offering prices may be changed from time to time. FINANCIAL ADVISOR The City has entered into an agreement with William Euphrat Municipal Finance, Inc. (the "Financial Advisor"), whereunder the Financial Advisor is providing financial advisory services to the City with respect to preparation and sale of the Bonds. The Financial Advisor has read and participated in the drafting of certain portions of this Official Statement. The Financial Advisor has not audited, authenticated or otherwise verified the information set forth in the Official Statement, or any other related information available to the City with respect to 42