Port of Port Arthur Navigation District of Jefferson County
PRELIMINARY OFFICIAL STATEMENT DATED DECEMBER 6, 2016 NEW ISSUE RATING: Moody’s Investors Service “Aa3” BOOK-ENTRY-ONLY (see “OTHER INFORMATION – Municipal Rating” herein) THE BONDS ARE NOT OBLIGATIONS DESCRIBED IN SECTION 103(A) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. SEE “TAX MATTERS” HEREIN. $20,930,000* PORT OF PORT ARTHUR NAVIGATION DISTRICT OF JEFFERSON COUNTY, TEXAS (A political subdivision of the State of Texas having boundaries within Jefferson County) UNLIMITED TAX PORT REFUNDING BONDS, TAXABLE SERIES 2016B Dated Date: December 1, 2016 Due: March 1 — See inside cover page (Interest Accrues from the Date of Delivery) Port of Port Arthur Navigation District of Jefferson County, Texas (the “District”) is issuing its Unlimited Tax Port Refunding Bonds, Taxable Series 2016B (the “Bonds”) pursuant to the Constitution and general laws of the State of Texas, (the “State”) including Chapter 197, Acts of the 58th Legislature, Regular Session 1963, as amended, Chapters 1207 and 1371, Texas Government Code, as amended, an election held on May 10, 2008 (the “2008 Election”), and the order authorizing the Bonds. The Bonds are direct obligations of the District and are payable from the receipts of an annual ad valorem tax, without legal limit as to rate or amount, levied all on taxable property within the District as provided in the Order. The Bonds are not issued by, nor are they in any way obligations of the State of Texas, Jefferson County or any other entity other than the District. See “DESCRIPTION OF THE BONDS — Source of Payment of the Bonds.” Simultaneously with the issuance of the Bonds, the District plans to issue $3,445,000* Unlimited Tax Port Refunding Bonds, Series 2016A (the “Series 2016A Bonds”).
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