OFFICIAL STATEMENT DATED JULY 25, 2017 $388,850,000(1) School District No
COMPETITIVE SALE—The Bonds will be sold pursuant to competitive sales held at 9:00 and 9:30 a.m. (Pacific Time) on August 3, 2017, as further described in the Notices of Sale attached hereto. PRELIMINARY OFFICIAL STATEMENT DATED JULY 25, 2017 $388,850,000(1) School District No. 1J, Multnomah County, Oregon (Portland Public Schools) Multnomah, Washington, and Clackamas Counties, Oregon General Obligation Bonds, Series 2017 $168,950,000(1) Series 2017A $219,900,000 (1) Series 2017B (Federally Taxable) (Tax-Exempt) DATED: August 10, 2017 (estimated “Date of Delivery”) DUE: June 15, as shown on the inside cover PURPOSE— The $168,950,000(1) General Obligation Bonds, Series 2017A (Federally Taxable) (the “2017A Bonds”) and $219,900,000(1) General Obligation Bonds, Series 2017B (Tax-Exempt) (the “2017B Bonds,” collectively with the 2017A Bonds, the “Bonds”) are being issued by School District No. 1J, Multnomah County, Oregon (Portland Public Schools) (the “District”), located in Multnomah, Washington, and Clackamas Counties, Oregon. The Bonds are being issued to finance capital costs for the District, and to pay the costs of issuance of the Bonds. See “Purpose and Use of Proceeds” herein. MOODY’S AND S&P GLOBAL RATINGS— “Aa2” and “AA-” underlying “Aa1” and “AA+,” enhanced. See “Oregon School Bond Guaranty” and “Ratings” herein. NOT BANK QUALIFIED— The District has NOT designated the Bonds as “qualified tax-exempt obligations” for purposes of Section 265(b)(3)(B) of the Internal Revenue Code of 1986, as amended (the “Code”). BOOK-ENTRY ONLY SYSTEM— The Bonds will be issued, executed and delivered in fully registered form under a book- entry only system and registered in the name of Cede & Co., as owner and nominee for The Depository Trust Company OfficialStatement substantially in this form.
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