Agenda - Council - 08/13/2013 - Laserfiche WebLink

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months (assuming certain State budget goals are met); (iii) altered the Building Lease Aid formula for fiscal years 2014-2015 and thereafter to be based on a limit of $1,314 per pupil unit served (as opposed to $1,200 per WADM described above); (iv) made certain other minor funding changes and (iv) made no significant material adverse change to the manner in which charter schools arc overseen by authorizers and the Minnesota Department of Education. Forward -Looking Statements This Official Statement contains statements relating to future results that are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When used in this Official Statement, the words "estimate," "forecast," "intend," "expect" and similar expressions identify forward -looking statements. Any forward -looking statement is subject to uncertainty. Accordingly, such statements are subject to risks that could cause actual results to differ, possibly materially, from those contemplated in such forward-Iooking statements. Inevitably, some assumptions used to develop forward -looking statements will not be realized or unanticipated events and circumstances may occur. Therefore, investors should be aware that there are likely to be differences between forward -looking statements and the actual results. These differences could be material and could impact the availability of funds of the Company to pay debt service when due on the Series 2013 Bonds. Rating Changes Standard & Poor's Ratings Group, a division of McGraw-Hill, has assigned a rating of " " to the Series 2013 Bonds. Certain information was supplied by the Company and the School to such rating agency to be considered in evaluating the Series 2013 Bonds, including information regarding State and federal funding sources and the operations of the School, which are subject to change. See "RATING." Such rating expresses only the views of such rating agency. There is no assurance that such rating will continue for any given period of time or will not be revised or withdrawn entirely by the rating agency if, in its judgment, circumstances so warrant. Any such downward revision in or withdrawal of such rating may have an adverse effect on the market price of the Series 2013 Bonds. Secondary Market The Underwriter expects to effect secondary market trading in the Series 2013 Bonds. However, the Underwriter is not obligated to repurchase any Series 2013 Bonds at the request of the holders thereof and cannot assure that there will be a continuing secondary market in the Series 2013 Bonds. In addition, adverse developments, including insufficient cash flow from the Project, may have an unfavorable effect upon prices for the Series 2013 Bonds in the secondary market. THE SERIES 2013 BONDS Interest; Maturity; Payment The Series 2013 Bonds will be issued in the aggregate principal amounts and will bear interest as set forth on the cover hereof. Interest will be payable semiannually on 1 and 1 (each an "Interest Payment Date") of each year, commencing on 1, 34