TOWN of COLONIE ALBANY COUNTY, NEW YORK (The “Town”)
PRELIMINARY OFFICIAL STATEMENT DATED FEBRUARY 20, 2018 NEW ISSUE/RENEWAL S&P GLOBAL RATINGS: “ ” SERIAL BONDS AND BOND ANTICIPATION NOTES See “Bond Rating”, herein In the opinion of Hodgson Russ LLP, of Albany, New York, Bond Counsel, under existing statutes, regulations, rulings, and court decisions, and assuming continuing compliance with certain tax certifications described herein, interest on the Bonds and the Notes is excluded from gross income for federal income tax purposes under section 103 of the Internal Revenue Code of 1986 (the “Code”), as amended. Bond Counsel is also of the opinion that the interest on the Bonds and the Notes is not treated as an item of tax preference for the purpose of the federal alternative minimum tax imposed on individuals. Furthermore, Bond Counsel is of the opinion that, under existing statutes, interest on the Bonds and the Notes is exempt from personal income taxes imposed by New York State and any political subdivision thereof. See “TAX EXEMPTION” herein. The Town WILL NOT designate the Bonds nor the Notes as “qualified tax-exempt obligations” under the provisions of Code section 265. TOWN OF COLONIE ALBANY COUNTY, NEW YORK (the “Town”) $18,150,000 PUBLIC IMPROVEMENT SERIAL BONDS - 2018 (the “Bonds”) [BOOK-ENTRY BONDS] BOND MATURITY SCHEDULE (See Inside Front Cover) Prior Redemption: The Bonds maturing on March 15, 2026 and thereafter are subject to redemption, at the option of the District, prior to maturity, in any order of maturity and in any amount within a maturity, on any date on or after March 15, 2025 in accordance with the terms described herein.
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