AgdaPkt 2012-01-09 - Laserfiche WebLink

Browse Search

8.A. - Page 28 and Current Special Tax Levy." See also "SPECIAL IZISK FACTORS—Property Value" and "SPECIAL IZISK FACTORS—Insufficiency of Special Taxes." Limited Obligation NONE OF THE FAITH AND CREDIT OF THE DISTRICT, THE CITY OR THE STATE OF CALIFORNIA OR OF ANY OF THEIR RESPECTIVE POLITICAL SUBDIVISIONS IS PLEDGED TO THE PAYMENT OF THE BONDS. EXCEPT FOR THE SPECIAL TAXES, NO OTHER TAXES ARE PLEDGED TO THE PAYMENT OF THE BONDS. THE BONDS ARE NEITHER GENERAL OR SPECIAL OBLIGATIONS OF THE CITY NOR GENERAL OBLIGATIONS OF THE DISTRICT, BUT ARE LIMITED OBLIGATIONS OF THE CITY FOR THE DISTRICT PAYABLE SOLELY FROM CERTAIN AMOUNTS PLEDGED THEREFOR UNDER THE FISCAL AGENT AGREEMENT, AS MORE FULLY DESCRIBED IN THIS OFFICIAL STATEMENT. No Parity Bonds The City has agreed in the Fiscal Agent Agreement not to issue any additional obligations payable from the Special Taxes on a plrity with the Bonds. See "SECUIZITY FOR THE BONDS—No Plrity Bonds." Bondowners' Risks Certain events could affect the ability of the City to pay the principal of and interest on the Bonds when due. Except for the Special Taxes, no otller taxes are pledged to the payment of the Bonds. See "SPECIAL RISK FACTORS" for a discussion of certain factors that should be considered in evaluating 1n investment in the Bonds. The purchase of the Bonds involves significant risl<s, and the Bonds are not appropriate investments for all types of investors. Continuing Disclosure For purposes of complying with Rule 15c2-12(b)(5) promulgated under the Securities Exchange Act of 1934, as amended (the "Rule"), the City has agreed to provide, or cause to be provided, to the Municipal Securities Rulemaking Board (the "MSRB") certain annual financial information and operating data and notice of certain significlnt events. These covenants have been made in order to assist the Underwriter in complying with the Rule. See "CONTINUING DISCLOSURE" and Appendix E for a description of the specific nature of the anin�al reports and notices of significant events, as well as the terms of the Continuing Disclosure Agreement pursulnt to which such reports and notices are to be m1de. Other Information This Official Statement speaks only as of its date, and the information contained in this Official Statement is subject to change without notice. Except where otherwise indicated, all information contained in this Official Statement has been provided by the City on behalf of the District. Copies of the Fiscal Agent Agreement and certain other documents referenced in this Official Statement are available for inspection at the office of, and (upon written request and payment to the City of a charge for copying, mailing and handling) are available for delivery from, the City's Director of Finance, 1017 Middlefield Road, Redwood City, Califomia 94603. -4-