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REGARDING USE OF THIS OFFICIAL STATEMENT
<br />No person has been authorized by the Issuer, the Underwriter, or the Borrower to give any information
<br />regarding the Series 2020 Bonds, the Borrower, the offering contained herein and related matters or to make any
<br />representations other than those contained herein and if given or made, such other information or representations
<br />must not be relied upon as having been authorized by any of the foregoing. The information and expressions of
<br />opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale
<br />hereunder implies that there has been no change in the matters described herein since the date hereof. This Official
<br />Statement does not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of the
<br />Series 2020 Bonds, by any person in any jurisdiction in which it is unlawful for such person to make such offer,
<br />solicitation or sale. The information set forth herein has been provided by or on behalf of the Borrower, the Issuer,
<br />The Depository Trust Company, and other sources that are believed to be reliable.
<br />The Underwriter has reviewed the information in this Official Statement in accordance with, and as part of,
<br />the Underwriter’s responsibilities to investors under federal securities laws as applied to the facts and circumstances
<br />of this transaction, but the Underwriter does not guarantee the accuracy or completeness of such information.
<br />Neither the Issuer nor any of its officers, agents, employees or representatives have reviewed this Official
<br />Statement or investigated the statements or representations contained herein, except for those statements relating to
<br />the Issuer set forth under the captions “THE ISSUER” and “ABSENCE OF MATERIAL LITIGATION – The
<br />Issuer.” Except with respect to the information contained under such captions, neither the Issuer nor any of its
<br />officers, agents, employees, or representatives makes any representation as to the completeness, sufficiency, and
<br />truthfulness of the statements set forth herein. None of the officers of the Issuer executing the Series 2020 Bonds is
<br />subject to personal liability by reason of the issuance or execution of the Series 2020 Bonds.
<br />The Series 2020 Bonds have not been registered under the Securities Act of 1933, as amended, or the
<br />securities laws of any state, and the Indenture has not been qualified under the Trust Indenture Act of 1939, as
<br />amended, in reliance upon exemptions contained in such acts. The registration or qualification of the Series 2020
<br />Bonds in accordance with applicable provisions of securities laws of the states in which the Series 2020 Bonds have
<br />been registered or qualified and the exemption from registration or qualification in other states cannot be regarded as
<br />a recommendation thereof. Neither these states nor any of their agencies have passed upon the merits of the Series
<br />2020 Bonds or the accuracy or completeness of this Official Statement. Any representation to the contrary may be a
<br />criminal offense.
<br />The Trustee has not participated in the preparation of this Official Statement or any other disclosure
<br />documents relating to the Series 2020 Bonds. Except for information under the heading “THE TRUSTEE,” the
<br />Trustee has or assumes no responsibility as to the accuracy or completeness of any information contained in this
<br />Official Statement or any other such disclosure documents.
<br />CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
<br />THIS OFFICIAL STATEMENT, INCLUDING THE APPENDICES HERETO, CONTAINS
<br />STATEMENTS WHICH SHOULD BE CONSIDERED “FORWARD-LOOKING STATEMENTS,”
<br />MEANING THEY REFER TO POSSIBLE FUTURE EVENTS OR CONDITIONS. SUCH STATEMENTS
<br />ARE GENERALLY IDENTIFIABLE BY THE WORDS SUCH AS “PLAN,” “EXPECT,” “ESTIMATE,”
<br />“BUDGET,” OR SIMILAR WORDS. THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER
<br />EXPECTATIONS CONTAINED IN SUCH FORWARD-LOOKING STATEMENTS INVOLVES KNOWN
<br />AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER FACTORS WHICH MAY CAUSE ACTUAL
<br />RESULTS, PERFORMANCE, OR ACHIEVEMENTS DESCRIBED TO BE MATERIALLY DIFFERENT
<br />FROM ANY FUTURE RESULTS, PERFORMANCE, OR ACHIEVEMENTS EXPRESSED OR IMPLIED
<br />BY SUCH FORWARD-LOOKING STATEMENTS. POTENTIAL INVESTORS SHOULD NOT PLACE
<br />UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. ALL FORWARD-LOOKING
<br />STATEMENTS ARE MADE AS OF THE DATE OF THIS OFFICIAL STATEMENT. THE BORROWER
<br />HAS NOT ASSUMED ANY OBLIGATION TO UPDATE ANY SUCH FORWARD-LOOKING
<br />STATEMENTS. WHILE THE BORROWER HAS NO REASON TO BELIEVE THAT THE
<br />ASSUMPTIONS THAT HAVE BEEN USED IN THESE FORWARD-LOOKING STATEMENTS ARE
<br />NOT REASONABLE, THESE ASSUMPTIONS INVOLVE JUDGMENTS WITH RESPECT TO, AMONG
<br />OTHER THINGS, FUTURE ECONOMIC, COMPETITIVE, AND MARKET CONDITIONS, FUTURE
<br />BUSINESS DECISIONS, AND FUTURE LEGAL AND REGULATORY CIRCUMSTANCES AND
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