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

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Beneficial Owners of Premium Bonds should consult their own tax advisors with respect to the proper treatment of amortizable bond premium in their particular circumstances. THE FOREGOING IS NOT INTENDED TO BE AN EXHAUSTIVE DISCUSSION OF COLLATERAL TAX CONSEQUENCES ARISING FROM RECEIPT OF INTEREST ON THE SERIES 2013A BONDS. PROSPECTIVE PURCHASERS OR BONDHOLDERS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO COLLATERAL TAX CONSEQUENCES, INCLUDING WITHOUT LIMITATION THE DETERMINATION OF GAIN OR LOSS ON THE SALE OF A SERIES 2013A BOND, THE CALCULATION OF ALTERNATIVE TAX LIABILITY, THE INCLUSION OF SOCIAL SECURITY OR OTHER RETIREMENT PAYMENTS IN TAXABLE INCOME, THE DISALLOWANCE OF DEDUCTIONS FOR CERTAIN EXPENSES ATTRIBUTABLE TO THE SERIES 2013A BONDS AND THE STATE AND LOCAL TAX RULES IN STATES OTHER THAN MINNESOTA. RATING Standard & Poor's Ratings Group, a division of McGraw-Hill, has assigned a rating of 4i " 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. Such rating expresses only the views of such rating agency. An explanation of the significance of the rating may be obtained from such rating agency at 25 Broadway, New York, New York 10004. There is no assurance that such rating will continue for any given period of time or will not be revised or withdrawn entirely by the rating agency if, in its judgment, circumstances so warrant. Neither the Issuer, the Underwriter, the Company nor the School have undertaken any responsibility to bring to the attention of the holders of the Series 2013 Bonds any proposed downward revision or withdrawal of a rating of the Series 2013 Bonds, or to oppose any such proposed downward revision or withdrawal. Any such downward revision in or withdrawal of such rating may have any adverse effect on the market price of the Series 2013 Bonds. UNDERWRITING The Series 2013 Bonds will be purchased by Dougherty & Company LLC, in Minneapolis, Minnesota (the "Underwriter"). The Underwriter has agreed to purchase the Series 2013 Bonds for compensation equal to $ , subject to the terms of a Bond Purchase Agreement between the Issuer, the Company, the School and the Underwriter. The Bond Purchase Agreement provides that the Underwriter shall purchase all Series 2013 Bonds if any are purchased, and that the obligation to make such purchase is subject to certain terms and conditions set forth in the Bond Purchase Agreement, the approval of certain legal matters by counsel and certain other conditions. The initial offering prices set forth on the cover hereof may be changed from time to time by the Underwriter. The Company and the School have agreed under the Bond Purchase Agreement to indemnify the Underwriter and the Issuer against certain liabilities, including certain liabilities under federal and state securities laws. 34