George K. Baum & Company J.P. Morgan
NEW ISSUE Ratings BOOK-ENTRY-ONLY Fitch: “AA” S&P: “AA-” In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law and assuming continued compliance with certain requirements of the Internal Revenue Code of 1986, as amended, the interest on the Series 2010A Bonds (including any original issue discount properly allocable to an owner thereof) is excludable from gross income for federal income tax purposes, except as described herein, and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations. The interest on the Series 2010A Bonds is exempt from income taxation by the State of Missouri. The Series 2010A Bonds have not been designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. See “TAX MATTERS” in this Official Statement. $33,895,000 MISSOURI DEVELOPMENT FINANCE BOARD CULTURAL FACILITIES REVENUE BONDS (THE NELSON GALLERY FOUNDATION) SERIES 2010A Dated: March 9, 2010 Due: See Inside Cover The Series 2010A Bonds and the interest thereon are special, limited obligations of the Missouri Development Finance Board (the “Board”), payable solely from certain payments made under a Loan Agreement, dated as of February 15, 2010 (the “Loan Agreement”), between the Board and The Nelson Gallery Foundation (the “Foundation”). The Series 2010A Bonds are issued and secured under a Bond Trust Indenture, dated as of February 15, 2010 (the “Indenture”), between the Board and Commerce Bank, N.A., Kansas City, Missouri, as trustee (the “Trustee”), as described herein.
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