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W , A <br />significant events (all of which are listed in the certificate) relating to the security <br />provided to investors. <br />Prelim!nary Official Statement: This is the City's primary disc::)sure document. It <br />discloses to investors all material information relating to the making of an informed <br />investment decision. It includes such information as the authority for the bonds, the <br />application of bond proceeds, the nature and value of the security for the repayment of <br />the bonds, bond owners' risks in purchasing the bonds, a description of the major <br />property owners paying the special taxes that secure the bonds, the terms of the bonds <br />and the rights of the owners of the bonds, the procedure for taxing property securing the <br />bonds, and other important information. The preliminary official statement is used as a <br />marketing document and is mailed to potential investors prior to the bond sale. After the <br />bond sale all the blanks (usually relating to the final amount of bonds sold, the <br />application of bond proceeds, the amount of the underwriter's discount, final interest <br />rates and reoffering yields or prices of the bonds, and the amount of debt service on the <br />bonds) are filled in and a final official statement is delivered to each purchaser of the <br />bonds. <br />A -2 <br />