|
NEW ISSUE-BOOK-ENTRY-ONLY Ratings: Moody's:"
<br /> (See 'BOND INSURANCE' and "OTHER
<br /> PERTINENT INFORMATION -Ratings" herein)
<br />
<br /> PRELIMINARY OFFICIAL STATEMENT
<br /> Dated: August 17, 2001
<br />
<br />In the opinion of Bond Counsel. interest on the Bonds will be excludable from gross income for federal income tax purposes
<br />under statutes, regulations, published rulings, and court decisions existing on the date hereof, subject to the matters described
<br />under 'TAX MA TTERS~ herein, including the alternative minimum tax on corporations.)
<br /> The City has desiqnated the Bonds as 'Qua#fied Tax-Exempt Obtiqations"
<br /> See ~TAX MATTERS - Qualified Tax-Exempt Obligations for Institutions" herein.
<br />
<br /> $5,190,000'
<br /> CITY OF PARIS, TEXAS
<br /> (Lamar County)
<br />
<br /> TAX AND REVENUE REFUNDING BONDS
<br /> SERIES 2001
<br />Dated Date: September 15, 1998 Due: December 15, as shown below
<br />Th~ ~.R '1~{3 (30(3* CRv of Pars tthe 'City" or 'Issuer'') Texas Tax and Revenue Refunding Bonds, Series 2001 (the "Bonds") are
<br /> _r _.;,__v, ..... _. ' ' ' · " ent
<br />being issued pursuant to the Constitut on and general laws of the State of Texas (the State ), mclud~ng V.T.C.A. Governm
<br />Code, Chapters 1207 and 1331, as amended, the City's Home Rule Charter and an ordinance adopted by the City Council (the
<br />'Ordinance"). (See"THE BONDS -Authority for Issuance" herein.)
<br />The Bonds are direct and general obligations of the issuer payable from an annual ad valorem tax levied against all taxable
<br />prope~bJ in the City, within the lira. ts prescr bed by law, and further secured, by a pledge of.surplus net revenues_ derived, frOmentthe-
<br />operat on of the Issuer s combined Waterworks and Sewer System (the System). (See THE BONDS Security for Paym
<br />herein.)
<br /> nterest on the Bonds will accrue from the dated date as shown above and will be payable June 15 and December 15 of each
<br /> year, commenc ng June 15 2002, and w be calculated on the basis of a 360-day year of twelve 30-day months. The definitive
<br /> Bonds will be issued as fully registered ob igat ons in bookz~ntry.f, orm only and when issued will be registered in the name of
<br /> Cede. & Co., as nominee of.The Depos tory Trust Company ( DTC ) New York New York. OTC will act as securities depository
<br /> (the Securities Depository ). Book-entry nterests n the Bonds will be made available f.or purchase in the principal amount of
<br /> $5,000 or any integra mu t p e thereof. Purchasers of the Bonds ("Beneficial Owners ) will not receive physical delivery of
<br /> cert ficates representing their interest in the Bonds purchased. So long as DTC or its nominee is the registered owner of the
<br /> Bonds the pr nc pa of and nterest on the Bonds will be payable by The Bank of New York, New York, New York, as Paying
<br /> Agent/Registrar to ...... the Securities Depository, wh ch w n turn remit such principal and interest to its Participants, which.will in
<br /> turn remit such pnnclpal and nterest to the Beneficial Owners ofthe Bonds. (See BOOK-ENTRY-ONLY SYSTEM heramn.)
<br /> Proceeds from the sale of the Bonds, together with a cash contribution from the City, are being used to refund the 2001 through
<br /> 2011 maturities of the City's Tax and Revenue Refunding Bonds, Series 1991 to achieve debt service savings, and to pay the
<br /> cost of issuance of the Bonds. (See 'PLAN OF FINANCING - Purpose' herein.)
<br /> The ssuer reserves the right at ts so e opt on to redeem the Bonds maturing on and after December 15, 2010, on December
<br /> 15 2009, or any date thereafter, in whole or in part, in principal amounts of $5,000 or any integral multiple thereof, at the
<br /> re~iemption price of par plus accrued interest as further described herein. (See "THE BONDS - Redemption Provisions" herein.)
<br /> Payment of the principal of and interest on the Bonds when due will be insured by a municipal bond insurance policy to be
<br /> issued by Financial Guaranty Insurance Company ("Financial Guaranty") concurrently with the delivery of the Bonds~ See
<br /> "BOND INSURANCE" herein.
<br /> ~ Financial Guaranty In~surance
<br /> F~C. Company
<br />
<br />Stated Principal Rate
<br />Maturity Amoun~ (%)
<br />2002 $435,000
<br />2003 450,000
<br />2004 465,000
<br />2005 485,000
<br />
<br />STATED MATURITY SCHEDULE*
<br />(Due December 15)
<br />
<br /> Yield Stated
<br /> (%) Maturity
<br /> 2007
<br /> 2008
<br /> 2009
<br /> 2010
<br />
<br />Principal Rate Yield
<br />Amoun~ (%) (%)
<br />$525,000
<br />545,000
<br />565,000
<br />595,000
<br />
<br /> 2006 505,000 2011 620,000
<br />
<br />The Bonds are offered for del/very, when. as and if issued and received by the initiel purchasers (the ~Purchasers") and subje, ct to tho
<br />approving opinion of the Attorney General of the State of Texas and the approval of certain legal matters by McCall, Par~<hurst &
<br />Herren L.L.P., Bond Counsel. Dallas. Texas. The legal opinion of Bond Counsel will be printed on. or attached to, the Bonds. Certain
<br /> matters will be passed upon for the Underwdter by .. Dallas. Texas, as counsel to the
<br /> Underwriter. It is expected that the Bonds will be available for de~/ve~y through DTC on or about September 26.200t
<br /> FIRST SOUTHWEST COMPANY
<br />
<br />Preliminary, subject to change
<br />
<br />
<br />
|