CC PACKET 11271995 - Laserfiche WebLink

Home Browse Search

preparing the Official Statement, the Financial Advisor has relied upon governmental officials who have access to relevant data to provide accurate information for the Official Statement, and the Financial Advisor has not been engaged, nor has it undertaken, to independently verify the accuracy of such information. The Financial Advisor is not a public accounting firm and has not been engaged by the City to compile, review, examine or audit any information in the Official Statement in accordance with accounting standards. The Financial Advisor is an independent advisory firm and is not engaged in the business of underwriting, trading or distributing municipal securities or other public securities and therefore will not participate in the underwriting of the Bonds. RATING An application for a rating of the Bonds has been made to Moody's Investors Service ("Moody's"), 99 Church Street, New York, New York. If a rating.is assigned, it will reflect only the opinion of Moody's. Any explanation of the significance of the rating may be obtained only from Moody's. There is no assurance that a rating, if assigned, will continue for any given period of time, or that such rating will not be revised or withdrawn, if in the judgment of Moody's, circumstances so warrant. A revision or withdrawal of the rating may have an adverse effect on the market price of the Bonds. CERTIFICATION The City has authorized the distribution of this Official Statement for use in connection with the initial sale of the Bonds. As of the date of the settlement of the Bonds, the Purchaserwill be furnished with a certificate signed by the appropriate officers of the City. The certificate will state that as of the date of the Official Statement, it did not and does not as of the date of the certificate contain any untrue statement of material fact or omit to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. CITY PROPERTY VALUES 1994 Indicated Market Value of Taxable Property: $333,843,386* Calculated by dividing the county assessors' 1994 estimated market value of$315,482,000 by the aggregate 1994 sales ratio of 94.5% for the City as determined by the State Department of Revenue. 1994 Taxable Net Tax Capacity: $5,876,740 1994 Net Tax Capacity $5,892,325 Less: Captured Tax Increment Tax Capacity (586,224) Contribution to Fiscal Disparities (200,203) Plus: Distribution from Fiscal Disparities 770.842 1994 Taxable Net Tax Capacity $5,876,740 - 6 -