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CITY of FORT LAUDERDALE, FLORIDA Water Andsewerrevenuebonds $180,075,000* Series 2018

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CITY of FORT LAUDERDALE, FLORIDA Water Andsewerrevenuebonds $180,075,000* Series 2018 PRELIMINARY OFFICIAL STATEMENT DATED JANUARY 26, 2018 NEW ISSUE - Book-Entry Only Ratings: Moody’s: “Aa1” S&P: “AA+” (See “RATINGS” herein) In the opinion of Greenberg Traurig, P.A., Bond Counsel, under existing statutes, regulations, rulings and court decisions and assuming the accuracy of certain representations and continuing compliance with certain covenants, interest on the Series 2018 Bonds is excludable from gross income for federal income tax purposes. Further, interest on the Series 2018 Bonds is not an item of tax preference for purposes of the alternative minimum tax imposed on individuals. Bond Counsel is also of the opinion that the Series 2018 Bonds and the income thereon are not subject to taxation under the laws of the State of Florida, except as to estate taxes and taxes under Chapter 220, Florida Statutes, on interest, income or profits on debt obligations owned by corporations as defined in Chapter 220, Florida Statutes. For a more complete description of such opinions of Bond Counsel, see “TAX MATTERS” herein. $180,075,000* CITY OF FORT LAUDERDALE, FLORIDA Water and Sewer Revenue Bonds Series 2018 Dated: Date of Delivery Due: March 1 and September 1, as shown on inside cover page The City of Fort Lauderdale, Florida Water and Sewer Revenue Bonds, Series 2018 (the “Series 2018 Bonds”) will be issued by the City of Fort Lauderdale, Florida (the “City”) as fully registered bonds, without coupons, in denominations of $5,000 and integral multiples thereof and when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”), which will act as securities depository for the Series 2018 Bonds. Purchasers will not receive certificates representing their ownership interests in the Series 2018 Bonds purchased. See “DESCRIPTION OF THE SERIES 2018 BONDS - Book-Entry Only System” herein. Interest on the Series 2018 Bonds will accrue from their date of delivery and will be payable on September 1, 2018 and semiannually on each March 1 and September 1 thereafter. Regions Bank, Jacksonville, Florida, will serve as the initial Bond Registrar and Paying Agent (the “Paying Agent”) for the Series 2018 Bonds. While the Series 2018 Bonds are registered through the DTC book-entry only system, principal of and interest on the Series 2018 Bonds will be payable by the Paying Agent to DTC. The Series 2018 Bonds are being issued for the purpose of providing funds, together with other legally available funds of the City, to (i) finance a portion of the Costs of improving and upgrading the City’s Water and Sewer System (the “Water and Sewer System”), including, to the extent permissible, reimbursement to the City for amounts previously paid for such Costs; and (ii) pay the costs of issuing the Series 2018 Bonds. See “INTRODUCTION” and “PURPOSE OF THE ISSUE” herein. The Series 2018 Bonds are payable from and secured by a lien on and pledge of the Net Revenues derived from the City’s ownership or operation of the Water and Sewer System and certain other moneys held under the Resolution (as defined herein), on a parity with the City’s Outstanding Water and Sewer Revenue Refunding Bonds, Series 2012, Water and Sewer Revenue Refunding Bonds, Series 2014, Water and Sewer Revenue and Revenue Refunding Bonds, Series 2016, and any other Bonds or Alternative Parity Debt hereafter issued; provided, however, that no deposit to the Reserve Account shall be made in connection with the issuance of the Series 2018 Bonds and the Series 2018 Bonds shall not be secured by, or entitled to any benefit from, any amounts that may be held in the Reserve Account for the benefit of Bonds hereafter issued under the Bond Resolution (as such terms are defined herein). Upon issuance of the Series 2018 Bonds, no amounts will be held in the Reserve Account for the benefit of Bonds Outstanding under the Bond Resolution. See “SECURITY AND SOURCES OF PAYMENT” herein. The Series 2018 Bonds are subject to optional and mandatory sinking fund redemption prior to maturity as described herein. See “DESCRIPTION OF THE SERIES 2018 BONDS - Redemption Provisions” herein. THE CITY IS OBLIGATED TO PAY THE PRINCIPAL OF AND INTEREST ON THE SERIES 2018 BONDS SOLELY FROM THE NET REVENUES AND CERTAIN OTHER MONEYS, AS DESCRIBED IN THE RESOLUTION. THE SERIES 2018 BONDS SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY, BROWARD COUNTY, FLORIDA, THE STATE OF FLORIDA OR ANY POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION. THE FAITH AND CREDIT OF THE CITY, BROWARD COUNTY, FLORIDA, THE STATE OF FLORIDA OR ANY POLITICAL SUBDIVISION THEREOF IS NOT PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF OR INTEREST ON THE SERIES 2018 BONDS. THE ISSUANCE OF THE SERIES 2018 BONDS SHALL NOT DIRECTLY, INDIRECTLY OR CONTINGENTLY OBLIGATE THE CITY, BROWARD COUNTY, FLORIDA, THE STATE OF FLORIDA OR ANY POLITICAL SUBDIVISION THEREOF TO LEVY OR TO PLEDGE ANY TAXES WHATEVER THEREFOR, OR TO MAKE ANY APPROPRIATION FOR THE PAYMENT OF THE PRINCIPAL OF OR INTEREST ON THE SERIES 2018 BONDS, EXCEPT AS PROVIDED IN THE RESOLUTION. This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must read the entire Official Statement, including the Appendices, to obtain information essential to the making of an informed investment decision. The Series 2018 Bonds are offered when, as and if issued by the City, subject to the approval of their legality by Greenberg Traurig, P.A., Fort Lauderdale, Florida, Bond Counsel, and certain other conditions. Certain legal matters will be passed upon for the City by Cynthia A. Everett, Esquire, City Attorney. Certain legal matters relating to disclosure will be passed upon for the City by the Law Offices of Steve E. Bullock, P.A., Miramar, Florida, Disclosure Counsel. Hilltop Securities Inc., Orlando, Florida, is acting as Financial Advisor to the City. It is expected that settlement on the Series 2018 Bonds will occur through the facilities of DTC in New York, New York on or about February 20, 2018. BIDS FOR THE SERIES 2018 BONDS WILL BE RECEIVED USING THE PARITY BIDDING SYSTEM, THROUGH THE TM3 NEWS SERVICE, AS SPECIFIED IN THE OFFICIAL NOTICE OF BOND SALE. ® Dated: February ___, 2018 This Preliminary Official Statement and the information contained herein are subject to amendment and completion without notice. The Series 2018 Bonds may not be sold and offers to buy may not be accepted prior not be accepted Official to the time may buy to be sold and offers not Series The may 2018 Bonds This Preliminary notice. without and completion amendment to subject are contained herein information the and Official Statement jurisdictionany Series the of sale any which in in Bonds 2018 be there nor shall buy, to offer an of the solicitation or sell to shall this Preliminary circumstances Under no offer an constitute Statement Official form. final in delivered Statement is such jurisdiction. prior of any or qualification under the securities to registration be unlawful laws solicitation or sale would such offer, * Preliminary, subject to change. $180,075,000* CITY OF FORT LAUDERDALE, FLORIDA Water and Sewer Revenue Bonds Series 2018 MATURITIES, PRINCIPAL AMOUNTS, INTEREST RATES, PRICES, YIELDS AND INITIAL CUSIP NUMBERS*† $__________ Series 2018 Serial Bonds Principal Interest Initial Maturity Amount Rate Price Yield CUSIP Number 03/01/2037 $4,105,000 % % 347658____ 09/01/2037 4,110,000 347658____ 03/01/2038 4,275,000 347658____ 09/01/2038 4,275,000 347658____ 03/01/2039 6,700,000 347658____ 09/01/2039 6,705,000 347658____ 03/01/2040 6,975,000 347658____ 09/01/2040 6,975,000 347658____ 03/01/2041 7,255,000 347658____ 09/01/2041 7,255,000 347658____ 03/01/2042 7,545,000 347658____ 09/01/2042 7,550,000 347658____ 03/01/2043 7,850,000 347658____ 09/01/2043 7,855,000 347658____ 03/01/2044 8,195,000 347658____ 09/01/2044 8,190,000 347658____ 03/01/2045 8,610,000 347658____ 09/01/2045 8,605,000 347658____ 03/01/2046 9,045,000 347658____ 09/01/2046 9,040,000 347658____ 03/01/2047 9,500,000 347658____ 09/01/2047 9,500,000 347658____ 03/01/2048 9,980,000 347658____ 09/01/2048 9,980,000 347658____ $__________ Series 2018 Term Bonds $_________ ____% Series 2018 Term Bond Due ___________ 1, 20___ – Price: ____ / Yield: ____% Initial CUSIP Number: 347658____ * Preliminary, subject to change. Principal amounts may be adjusted after submission of bids. See “ADJUSTMENT OF AMOUNTS AND MATURITIES” in the Official Notice of Bond Sale. The principal amount of any two or more consecutive maturities may be designated as Term Bonds, up to a maximum of five (5) Term Bonds. See “BIDDER’S SPECIAL OPTION - TERM BONDS” in the Official Notice of Bond Sale. † Neither the City nor the Underwriters is responsible for the use of CUSIP Numbers, nor is a representation made as to their correctness. The CUSIP Numbers are included solely for the convenience of the readers of this Official Statement. CITY OF FORT LAUDERDALE, FLORIDA OFFICIALS* John P. “Jack” Seiler, Mayor Bruce G. Roberts, Vice Mayor, Commissioner, District I Dean J. Trantalis, Commissioner, District II Robert L. McKinzie, Commissioner, District III Romney Rogers, Commissioner, District IV ADMINISTRATION Lee R. Feldman, ICMA-CM, City Manager Cynthia A. Everett, Esquire, City Attorney John C. Herbst, CPA, CGFO, CGMA, City Auditor Jeffrey A. Modarelli, City Clerk Kirk W. Buffington, CPFIM, CPPO, C.P.M., MBA, Director of Finance Linda A. Logan-Short, CGFO, CPM, Chief Financial Officer/Deputy Director of Finance Paul A.
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