1992-06-18 Resolution 56 - Laserfiche WebLink

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No dealer, broker, salesman or other person has been authorized by the Authority, the Financial Advisor or the Underwriters to give any information or to make any representations other than those contained in this Official Statement or the Final Official Statement and, if given or made, such information and representations must not be relied upon as having been authorized by the Authority, the Financial Advisor or the Underwriters. This Official Statement or the Final Official Statement does not constitute an offer to sell or solicitation of an offer to buy, nor shall there by any sale of the District by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the Authority and other sources which are believed to be reliable, but it is not to be conttined as a representation by the Financial Advisor or Underwriters. The information aad expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement or the Final Official .Statement nor any sale made thereafter shall, under any circumstances, create any implication that there has been no change in the affairs of the Authority or in any other information contained herein, since the date hereof. IN CONNECTION WITH TITS OFFERING OF THE BONDS, THE UNDERWRITERS MAY OVER-ALLOT OR EFFECT' TRt1NSACIIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF THE BONDS AT A LE4EL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN IvIARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. TABLE OF CONTENTS Page • Roster of City Officials ............................................iii Introduction to the Official Statement .................. 1 Description of the Securities .................................. 3 Authorization of the Bonds ............................... .. Purpose of the Bonds ......................................... 3 Security ................................................................... 3 Cash Flow ............................................................... 3 Redemption Provisions ........................................ 4 Interest Computation ........................................... 4 Rating ...................................................................... 4 4 Tax Matters ............................................................ . . 5 ... ....... Certification ............................................... Legal Matters ......................................................... 5 Miscellaneous ........................................................ 5 The City ...................:................................................. 6 General Information ............................................ 6 Economic and Demographic Information........... 6 General Information Concerning the City........ 6 Population .............................................................. 9 Retail Sales and Buying Income .....................•• : Building Permits .................................................. 10 Medical Facilities ................................................. 10 Page ........................................ ortation s T it .............. p ran ......................................... Education 11 ..................... .................................... . btedness d I 11 .... ................... e n Direct General Obligation Debt of the City .... 11 Revenue Debt of the City ................................... 12 Capital Leases ...................................................... 12 Lease Rental Revenue Debt Issues by the South Bend Redevelopment Authority......... 13 Overlapping Debt ................................................ 14 Financial Information ............................................. ].4 Financial Reports ................................................. 14 Results of Operations . ....... .......... """"' • Budgetary Process ............................................... 14 Cash and Investments .......................................... 16 Property Valuations and Taxes ............................. 17 Principal Taxpayers ............................................. 19 AppendiA A - Financial Statements Appendix B -Lease Agreement Appendix C - Excerpts of the Trust Agreement Appendix D - Form of Legal Opinion and Tax Matters Appendix E - Notice of Intent to Sell ii