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8.A. - Page 23 TABLE OF CONTENTS Special Tax Levies and Delinquencies ...............27 INTRODUCTION ...............................................................1 Direct and Overla in Governmental General .............................................................................1 P�' � Obliga tions ...................................................................27 Authority for Issuance ................................................1 Projected Debt Service Coverage..........................28 The Bonds .......................................................................2 Security for the P�onds ................................................ Z SPECIAL RISK FACTORS ........................................... 29 Reserve Fund ..................................................................3 Concentration of Property Ownership...............29 The District .....................................................................3 Payment of the Special Tax is not a Personal Limited Obligation .....................................................4 Obligation.....................................................................29 No Parity P�onds ...........................................................4 No General Obligation of the City or the Bondowners Risks .....................................................4 District...........................................................................29 Continuing Disclosw�e ................................................4 Property Value.............................................................30 Other Information ........................................................4 Exempt Properties......................................................30 Parity Taxes and Special Assessments ..............31 PLAN OF REFUNDING ...................................................5 Insufficiency of Special Taxes................................31 Redemption of Prior Bonds ......................................:i Tax Delinc1uencies......................................................31 Estimated Sources and Uses of Funds .................5 Bankru�tcy Delays ....................................................32 THE P�ONDS .........................................................................6 Proceeds of Foreclosw�e Sales................................32 Authority for Issuance ................................................6 Natural Disasters.......................................................33 General Provisions ......................................................6 Hazardous Substances.............................................34 Redemption .................................................................... 7 Disclosure to Future Purchasers ...........................34 Transfer or Exchange of Bonds ..............................8 FDIC/Federal Government Interests in Discontinuance of DTC Services .............................8 Properties ......................................................................34 Scheduled Debt Service ..............................................9 No Acceleration Provision......................................36 Taxability and Audit Risk .....................................36 SECURITY FOR THE P�ONDS .......................................9 Entorceability of Remedies ....................................37 General .............................................................................9 No Secondary Market..............................................37 Limited Obli�ation ..................................................... � Proposition 218...........................................................37 Special Taxes ...............................................................10 Ballot Initiatives.........................................................38 Special Tax Ftuzd ........................................................10 Sutntnary of Rate and Method ..............................11 TAX MATTERS............................................................... 39 County Teeter Plan .....................................................16 LEGAL MATTERS ........................................................41 Reser Fund ................................................................17 Covenant for Superior Court Poreclosure .........18 FINANCIAL ADVISOR ................................................. 41 Investment of Moneys ...............................................19 No Parity P�onds .........................................................19 NO RATING...................................................................... 41 THE DISTRICT .................................................................19 LITIGATION....................................................................41 Location and Description of the District...........19 UNDERWRITING ........................................................... 41 History of the District ...............................................19 Development in the District ....................................20 CONTINUING DISCLOSURE.................................... 42 Land Ownership and Current Special Tax MISCELLANEOUS ........................................................42 Lev .................................................................................22 Value-to-P�urden Ratio .............................................26 APPENDIX A CITY AND COUNTY GENERAL DEMOGRAPHIC INFORMATION APPENDIX B RATE AND METHOD APPENDIX C SUMMARY OF THE FISCAL AGENT AGREEMENT APPENDIX D FORM OF OPII�ION OF BOND COUNSEL APPENDIX E FORM OF CONTINUING DISCLOSURE AGREEMENT APPENDIX F DTC AND THE P�OOK-ENTRY ONLY SYSTEM APPENDIX G DISTRICT BOUNDARY MAP -v-