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12/03/2012 <br />special tax delinquency rates and information regarding delinquent parcels, significant <br />changes in land use entitlements relating to parcels securing the bonds, copies of <br />reports required to be filed by the District with the California Debt and Investment <br />Advisory Commission, and the occurrence of certain significant events (all of which are <br />listed) relating to the security provided to investors. <br />Official Statement — This is the City's primary disclosure document. It discloses to <br />investors all material information relating to the making of an informed investment <br />decision. It includes such information as the authority for the bonds, the application of <br />bond proceeds, the nature and value of the security for the repayment of the bonds, <br />bond owner's risks in purchasing the bonds, a description of the real estate on the land <br />securing the bonds, the location of the District, information regarding property values, <br />the terms of the bonds and the rights of the owners of the bonds, the procedure for <br />taxing property securing the bonds, a complete copy of the special tax formula, and <br />other important information. The preliminary official statement is used as a marketing <br />document and is sent to potential investors prior to the bond sale. After the bond sale <br />all the blanks (usually relating to the final amount of bonds sold, the application of bond <br />proceeds, the amount of the underwriter's discount, final interest rates and reoffering <br />yields or prices of the bonds, and the amount of debt service on the bonds) are filled in <br />and a final official statement is delivered to each purchaser of the bonds. <br />Page 2 of 2 <br />RE50. # 15237 <br />MUFF # 505 <br />