15000000 Ceres Unified School District
NEW ISSUE — BOOK-ENTRY ONLY RATINGS: Standard & Poor’s: AAA/A+ (SPUR) (See “BOND INSURANCE” and “MISCELLANEOUS — Rating” herein). In the opinion of Kronick, Moskovitz, Tiedemann & Girard, a Professional Corporation, Sacramento, California, Bond Counsel, based upon an analysis of existing statutes, regulations, rulings, and court decisions and assuming, among other things, the accuracy of certain representations and compliance with certain covenants, interest on the Bonds is excludable from gross income for federal income tax purposes and is exempt from State of California personal income taxes. In the further opinion of Bond Counsel, interest on the Bonds is not an item of tax preference for purposes of the alternative minimum tax imposed on individuals and corporations, nor is such interest taken into account in determining adjusted current earnings for the purpose of computing the alternative minimum tax imposed on certain corporations. Bond Counsel expresses no opinion regarding any other tax consequences related to the ownership or disposition of, or the accrual or receipt of interest on, the Bonds. See “Tax Matters” herein. $15,000,000 CERES UNIFIED SCHOOL DISTRICT (Stanislaus County, California) GENERAL OBLIGATION BONDS, ELECTION OF 2008, SERIES 2009A Dated: Date of Delivery Due: August 1, as shown below The Ceres Unified School District (the “District”) is issuing the Ceres Unified School District (Stanislaus County, California) General Obligation Bonds, Election of 2008, Series 2009A (the “Bonds”) in the aggregate principal amount of $15,000,000. The Bonds were authorized at a Election of the registered voters of the District held on November 4, 2008, at which 55% or more of the persons voting on the proposition voted to authorize the issuance and sale of $60,000,000 principal amount of general obligation bonds of the District to acquire, construct, repair, renovate, and improve school facilities.
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