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City of Danbury, Connecticut $18,000,000 General Obligation Bonds, Issue of 2015

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City of Danbury, Connecticut $18,000,000 General Obligation Bonds, Issue of 2015 Final Official Statement Dated July 14, 2015 New Issue: Book-Entry Only Ratings: Moody’s Investors Service, Inc.: Aa1 / MIG 1 Standard & Poor’s Corporation: AA+ / SP-1+ Fitch Ratings: AAA / F1+ In the opinion of Bond Counsel, based on existing statutes and court decisions and assuming continuing compliance with certain covenants and procedures relating to requirements of the Internal Revenue Code of 1986, as amended (the “Code”), interest on the Bonds and the Notes is excluded from gross income for federal income tax purposes and is not treated as an item of tax preference for purposes of computing the federal alternative minimum tax. Interest on the Bonds and the Notes may be includable in the calculation of certain taxes under the Code, including the federal alternative minimum tax imposed on certain corporations. In the opinion of Bond Counsel, based on existing statutes, interest on the Bonds and the Notes is excluded from Connecticut taxable income for purposes of the Connecticut income tax on individuals, trusts and estates, and is excluded from amounts on which the net Connecticut minimum tax is based in the case of individuals, trusts and estates required to pay the federal alternative minimum tax. See “Tax Matters” herein. City of Danbury, Connecticut $18,000,000 General Obligation Bonds, Issue of 2015 Dated: Date of Delivery Due: Serially on July 15, 2016-2035, as detailed inside this front cover: The Bonds will bear interest payable January 15, 2016 and semiannually thereafter on July 15 and January 15 in each year until maturity. The Bonds are issuable only as fully registered bonds, without coupons, and, when issued, will be registered in the name of Cede & Co., as bondowner and nominee for The Depository Trust Company (''DTC''), New York, New York. DTC will act as securities depository for the Bonds. Purchases of the Bonds will be made in book-entry form, in the denomination of $5,000 or any integral multiple thereof. Purchasers will not receive certificates representing their ownership interest in the Bonds. So long as Cede & Co. is the Bondowner, as nominee of DTC, reference herein to the Bondowner or owners shall mean Cede & Co., as aforesaid, and shall not mean the Beneficial Owners (as defined herein) of the Bonds. See ''Book-Entry-Only System'' herein. The Bonds are subject to redemption prior to maturity as herein provided. $25,000,000 General Obligation Bond Anticipation Notes Dated: July 23, 2015 Due: July 21, 2016 The Notes will be issued in book-entry-only form and will bear interest at such rate or rates per annum as are specified by the successful bidder or bidders as set forth on the inside front cover, in accordance with the Notice of Sale dated July 7, 2015. The Notes, when issued, will be registered in the name of Cede & Co., as Noteowner and nominee for DTC, New York, New York. See "Book-Entry-Only Transfer System" herein. The Bonds and the Notes will be general obligations of the City of Danbury, Connecticut and the City will pledge its full faith and credit to pay the principal of and the interest on the Bonds and the Notes when due. See “Security and Remedies” herein. The Registrar, Transfer Agent, Paying Agent, and Certifying Agent will be U.S. Bank National Association, Goodwin Square, 225 Asylum Street, Hartford, Connecticut 06103. The Bonds and the Notes are offered for delivery when, as and if issued, subject to the approving opinion of Robinson & Cole LLP, Bond Counsel, of Hartford, Connecticut and certain other conditions. It is expected that delivery of the Bonds and the Notes in book-entry-only form will be made to DTC on or about July 23, 2015. UBS Financial Services Inc. City of Danbury, Connecticut $18,000,000 General Obligation Bonds, Issue of 2015 Dated: Date of Delivery Due: Serially on July 15, 2016-2035, as detailed below: Maturity Schedule Year Principal Coupon Yield CUSIP Year Principal Coupon Yield CUSIP 2016 $ 900,000 3.000% 0.300% 2358656P2 2026* $ 900,000 3.000% 2.700% 2358656Z0 2017 900,000 5.000% 0.650% 2358656Q0 2027* 900,000 3.000% 2.850% 2358657A4 2018 900,000 5.000% 0.950% 2358656R8 2028 900,000 3.000% 3.000% 2358657B2 2019 900,000 5.000% 1.130% 2358656S6 2029 900,000 3.000% 3.100% 2358657C0 2020 900,000 5.000% 1.400% 2358656T4 2030 900,000 3.000% 3.180% 2358657D8 2021 900,000 5.000% 1.660% 2358656U1 2031 900,000 3.250% 3.250% 2358657E6 2022 900,000 5.000% 1.950% 2358656V9 2032 900,000 3.250% 3.350% 2358657F3 2023 900,000 5.000% 2.100% 2358656W7 2033 900,000 3.250% 3.400% 2358657G1 2024* 900,000 3.000% 2.300% 2358656X5 2034 900,000 3.375% 3.450% 2358657H9 2025* 900,000 3.000% 2.500% 2358656Y3 2035 900,000 3.375% 3.500% 2358657J5 * Priced assuming redemption on July 15,2023;however any such redemption is at the option ofthe City. $25,000,000 General Obligation Bond Anticipation Notes Dated: July 23, 2015 Due: July 21, 2016 Rate: 2.00% CUSIP: 2358657K2 Amount: $10,000,000 Yield: 0.31% Amount: $15,000,000 Yield: 0.33% No person has been authorized by the City to give any information or to make any representations not contained in this Official Statement or any supplement, which may be issued hereto, and if given or made, such other information or representations must not be relied upon as having been authorized. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Bonds or the Notes by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. This Official Statement has been prepared only in connection with the initial offering and sale of the Bonds and the Notes and may not be reproduced or used in whole or in part for any other purpose. The information, estimates and expressions of opinion in this Official Statement are subject to change without notice. Neither the delivery of this Official Statement nor any sale of the Bonds and the Notes shall, under any circumstances, create any implication that there has been no material change in the affairs of the City since the date of this Official Statement. The independent auditors for the City are not passing upon and do not assume responsibility for the accuracy or completeness of the financial information presented in this Official Statement (other than matters expressly set forth in their opinion in Appendix A), and they make no representation that they have independently verified the same. Other than as to matters expressly set forth in Appendix B, Bond Counsel are not passing on and do not assume any responsibility for the accuracy or adequacy of the statements made in this Official Statement and make no representation that they have independently verified the same. Table of Contents Page Page Bond Issue Summary........................................................ 1 Property Tax Receivables................................................................24 Note Issue Summary ........................................................ 2 Ten Largest Taxpayers ................................................................24 I Bond and Note Information ................................ 3 V Debt Summary ................................................................ 25 Introduction...............................................................3 Principal Amount of Bonded Indebtedness................................25 Financial Advisor ......................................................3 Short Term Debt................................................................ 26 Description of the Bonds...........................................3 Other Obligations................................................................26 Redemption Provisions .............................................3 General Fund - Annual Bonded Debt Description of the Notes............................................4 Maturity Schedule ................................................................27 Authorization and Purpose........................................4 Self Supporting Debt - Annual Bonded Proceeds of the Issue.................................................4 Maturity Schedule ................................................................28 School Projects..........................................................4 Total General Obligation Annual Bonded Debt Book-Entry-Only Transfer System............................5 Maturity Schedule ................................................................29 Security and Remedies ..............................................6 Overlapping/Underlying Debt................................................................29 Qualification for Financial Institutions .....................7 Debt Statement ................................................................ 30 Availability of Continuing Information.....................7 Current Debt Ratios................................................................30 Ratings ......................................................................7 Bond Authorization Procedure................................................................31 Bond Insurance..........................................................7 Temporary Financing ................................................................31 II The Issuer................................................................ 8 Clean Water Fund Program................................................................31 Description of the Municipality................................ 8 Statement of Debt Limitation ................................................................33
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