UPPER MOHAWK VALLEY REGIONAL WATER FINANCE AUTHORITY Water System Revenue Bonds, Series 2015
NEW ISSUE--BOOK ENTRY ONLY RATING: Moody’s “A1” Standard & Poor’s “AA” (See “RATINGS” herein.) In the opinion of Norton Rose Fulbright US LLP, New York, New York, Bond Counsel, assuming continuous compliance with certain covenants described herein, interest on the Series 2015 Bonds will be excludable from gross income for federal income tax purposes under existing law, and interest on the Series 2015 Bonds will not be subject to the alternative minimum tax on individuals. In the further opinion of Bond Counsel, under existing law interest on the Series 2015 Bonds is exempt from personal income taxes imposed by the State of New York or any political subdivision thereof (including The City of New York). See “Tax Matters” herein for a description of the opinion of Bond Counsel and certain other tax consequences. $24,450,000 UPPER MOHAWK VALLEY REGIONAL WATER FINANCE AUTHORITY Water System Revenue Bonds, Series 2015 Dated: Date of Delivery Due: April 1, as shown on the inside cover The Water System Revenue Bonds, Series 2015 of the Upper Mohawk Valley Regional Water Finance Authority (the “Finance Authority”) are hereinafter referred to as the “Series 2015 Bonds”. Interest on the Series 2015 Bonds will be payable on each April 1 and October 1 (each, an “Interest Payment Date”), commencing April 1, 2016. The Series 2015 Bonds will bear interest from the date of delivery and will be issued in authorized denominations of $5,000 or any integral multiple thereof. Principal of and premium, if any, and interest on the Series 2015 Bonds will be payable by The Bank of New York Mellon, as Trustee and Paying Agent, to the registered owners thereof as more fully described herein.
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