SANJOSE General Obligation Bonds, Series 2005 Capfl�L O!-' SI! ICON \'A!J.EY (Libraries and Pnblic Safety Projects)
NEW ISSUE - FULL BOOK-ENTRY RATINGS (See "'RATINGS"herein) In the opinion l?{ Jones Hall, A Professional Law Corporation, San Francisco. California, Bond C�ounsel, subject, however to certain qualifications described herein, under existing laHl, the interest on the Bonds is excluded fro,n gross inconie for.federal income tax purposes, and such interest is not an item of tax preference for purposes of the federal alternative minimwn tax bnposed on individuals and corporations, although for the purpose of computing the alternative minimum tax imposed on certain corporations, such interest is taken into account in determining certain income a1ulearnings, In the further opinion ,?f Bond Counsel, such interest is exempt from Cal(fornia personal income taxes. See "TAX MATT!::,RS"herein. $46,300,000 C!TYOF� CITY OF SAN JOSE SANJOSE General Obligation Bonds, Series 2005 CAPfl�L O!-' SI! ICON \'A!J.EY (Libraries and Pnblic Safety Projects) Dated:Date of Delivery Due: September 1, as shown below The City of San Jose' General Obligation Bonds, Series 2005 (Libraries and Public Safety ProjecL-;) (the "Bonds" or the "Series 2005 Bonds"), in the aggregate principal ainount of $46,300,000, are being issued by the City of San Jose' (the "City'') to fund the acquisition of property and the construction of improvements to neighborhood library facilities, police and fire stations, public safety training facilities and 911 communications facilities within the City. The Bonds are general obligations of the City, and the City Council is empowered and is obligated to levy ad valorem taxes for the payment of interest on, and principal of, theBonds upon all property subject to taxation by the City without limitation of rate or an1ount (except certain personal property which is taxable at limited rates).
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