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2016-2062.Pdf . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . .. $83,800,000 SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT SALES TAX REVENUE BONDS 2016 REFUNDING SERIES A MATURITY SCHEDULE Maturity CUSIP* Date Principal Interest (Base: (July 1) Amount Rate Yield 797669) 2019 $3,135,000 5.000% 0.620% WK0 2020 3,300,000 5.000 0.720 WL8 2021 3,465,000 5.000 0.840 WM6 2022 3,640,000 5.000 1.000 WN4 2023 3,835,000 5.000 1.130 WP9 2024 4,030,000 5.000 1.240 WQ7 2025 4,235,000 5.000 1.350 WR5 2026 4,450,000 4.000 1.470 WS3 2027 4,630,000 4.000 1.590 WT1 2028 4,825,000 4.000 1.670 WU8 2029 5,020,000 2.000 2.070 WV6 2030 5,125,000 2.125 2.170 WW4 2031 5,235,000 2.250 2.300 WX2 2032 5,360,000 3.000 2.400 WY0 2033 5,530,000 4.000 2.170 WZ7 2034 5,755,000 4.000 2.230 XA1 2035 5,995,000 4.000 2.270 XB9 2036 6,235,000 3.000 3.000 XC7 * CUSIP® is a registered trademark of the American Bankers Association. CUSIP Global Services (CGS) is managed on behalf of the American Bankers Association by S&P Capital IQ. Copyright © 2016 CUSIP Global Services. All rights reserved. CUSIP® data herein is provided by CUSIP Global Services. This data is not intended to create a database and does not serve in any way as a substitute for the CGS database. CUSIP numbers are provided for convenience only and neither the District nor the Underwriters takes any responsibility for the accuracy thereof. The CUSIP numbers are subject to being changed after the issuance of the 2016 Series A Bonds as a result of various subsequent actions, including, but not limited to, a refunding, in whole or in part of the 2016 Series A Bonds. Yield to par call on July 1, 2026. This Official Statement does not constitute an offer to sell or solicitation of an offer to buy, nor will there be any offer or solicitation or sale of the 2016 Series A Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. No dealer, broker, salesman or other person has been authorized by the San Francisco Bay Area Rapid Transit District (the District) to give any information or to make any representation other than that contained herein and, if given or made, such other information or representation must not be relied upon as having been authorized. Neither the delivery of this Official Statement nor the sale of any of the 2016 Series A Bonds implies that the information herein is correct as of any time subsequent to the date hereof. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale made hereunder will, under any circumstances, create the implication that there has been no change in the matters described herein since the date hereof. This Official Statement is not to be construed as a contract with the purchasers of the 2016 Series A Bonds. Statements contained in this Official Statement which involve estimates, forecasts or matters of opinion, whether or not expressly so described herein, are intended solely as such and are not to be construed as representations of facts. All summaries of statutes and documents are made subject to the provisions of such statutes and documents, respectively, and do not purport to be complete statements of any or all of such provisions. FORWARD LOOKING STATEMENTS This Official Statement, including the cover and inside cover page and all appendices hereto, contains forecasts, projections and estimates that are based on current expectations or assumptions. When included in this Official Statement, the words expects, forecasts, projects, intends, anticipates, estimates, assumes and analogous expressions are intended to identify forward-looking statements which speak only as of the date of this Official Statement. Any such statements inherently are subject to a variety of risks and uncertainties which could cause actual results to differ materially from those that have been projected. Such risks and uncertainties include, among others, changes in economic conditions, federal, state and local statutory and regulatory initiatives, litigation, seismic events, and various other events, conditions and circumstances, many of which are beyond the control of the District. The inclusion in this Official Statement of such forecasts, projections and estimates should not be regarded as a representation by the District that such forecasts, projections and estimates will occur. Such forecasts, projections and estimates are not intended as representations of fact or guarantees of results. The District disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any changes in the Districts expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN SUCH FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE DISTRICT DOES NOT PLAN TO ISSUE ANY UPDATES OR REVISIONS TO THOSE FORWARD-LOOKING STATEMENTS IF OR WHEN ANY OF ITS EXPECTATIONS, OR EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH SUCH STATEMENTS ARE BASED OCCUR, OTHER THAN AS DESCRIBED UNDER CONTINUING DISCLOSURE HEREIN. This Official Statement is submitted in connection with the sale of securities referred to herein and may not be reproduced or be used, as a whole or in part, for any other purpose. The 2016 Series A Bonds have not been registered under the Securities Act of 1933, as amended, in reliance upon an exemption contained therein, and have not been registered or qualified under the securities laws of any state. The District maintains a website. References to website addresses presented herein are for informational purposes only and may be in the form of a hyperlink solely for the readers convenience. Unless specifically indicated otherwise, such websites and the information or links contained therein are not incorporated into, and are not part of, this Official Statement and should not be relied upon in making investment decisions with respect to the 2016 Series A Bonds. IN CONNECTION WITH THE OFFERING OF THE 2016 SERIES A BONDS, THE UNDERWRITERS MAY OVER-ALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICE OF THE 2016 SERIES A BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. THE UNDERWRITERS MAY OFFER AND SELL THE 2016 SERIES A BONDS TO CERTAIN DEALERS AND DEALER BANKS AND BANKS ACTING AS AGENT AT PRICES LOWER THAN THE PUBLIC OFFERING PRICES STATED ON THE COVER PAGE HEREOF, AND SAID PUBLIC OFFERING PRICES MAY BE CHANGED FROM TIME TO TIME BY THE UNDERWRITERS. ..~11111111111111111111111111,,,,_ "' p,tts· b urg/ Bay Pomto. #': North Concord/Martinezo : • Pleasant Hill/Contra Costa Centreo Eve ning & Sunday Service EAST BAY Castro Valleyo Dublin/Pleasantono Oakland® 1111111111111111111 International West Dublin/ Airport (OAK) Pleasantono Pittsburg/Bay Point-SFO/Millbrae Line Dublin/Pleasanton-Daly City Line RichmoncJ...fremont Line Fremont-Daly City Line - NO lVCNING M 1t.WQAY SOll1'CE Richmond-Millbrae Line - NO tvtHING Olt SUNtJAY SlRVJCt Fremonto Oakland lnte.rn,1tioMI Airport (OAK) - .SCAYKC lfTWElN coumJM" OAK!AND ~ ~ /NttANA'/rONAl. AlfU'CRI'" $fAn()N$ - Transfer S~tlon ~ oxo ,:._ w., ... Tra.nsfQr Statlo11 for ~ervke to ~Spm,91 OCX) ,:. Oakland lntemational Airport ,:. 11111111 Future BA.RT Sa,vi<.0 .. Approved o,Plannod PENINSULA .• OAMParldng ,:.. ~'Ii ~.... ~~"'"' SAN JOSE For real time information visit www.bart.gov SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT 300 Lakeside Drive, 23rd Floor Oakland, California 94612 BOARD OF DIRECTORS Tom Radulovich Gail Murray John McPartland President Vice President Director Nicholas Josefowitz Joel Keller Zakhary Mallett Director Director Director Thomas Blalock Robert Raburn Rebecca Saltzman Director Director Director OFFICERS Grace Crunican General Manager Rosemarie V. Poblete Controller/Treasurer Kenneth A. Duron District Secretary Russell Bloom Independent Police Auditor GENERAL COUNSEL Matthew Burrows, Esq. TRUSTEE U.S. Bank National Association San Francisco, California BOND COUNSEL AND DISCLOSURE COUNSEL Orrick, Herrington & Sutcliffe LLP San Francisco, California FINANCIAL ADVISOR Sperry Capital Inc. Sausalito, California VERIFICATION AGENT Causey Demgen & Moore P.C. Denver, Colorado TABLE OF CONTENTS INTRODUCTION ........................................................................................................................................................................... 1 General ........................................................................................................................................................................
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