Siebert Brandford Shank & Co., L.L.C. First Southwest Company
PRELIMINARY OFFICIAL STATEMENT DATEDAPRIL20, 2012 le NEW ISSUES – BOOK-ENTRY-ONLY RATINGS: SEE “RATINGS” HEREIN In the opinion of Co-Bond Counsel to the City (each as defined below), assuming compliance with certain covenants by the City, under existing statutes, regulations, published rulings and court decisions existing on the date hereof, interest on the 2012 GARBs and the 2012 PFC Bonds (each as defined below) is excluded from gross income of the holders thereof for federal income tax purposes, except for any holder who is treated pursuant to section 147(a) of the Internal Revenue Code of 1986 (the “Code”) as a “substantial user” of the projects refinanced with the proceeds of the 2012 GARBs or the 2012 PFC Bonds or a “related person” to such user. Interest on the 2012 GARBs and the 2012 PFC Bonds will be an item of tax preference, as defined in section 57(a)(5) of the Code, for purposes of determining the alternative minimum tax imposed on individuals and corporations by section 55 of the Code. For further information, see “TAX MATTERS” herein. CITY OF SAN ANTONIO, TEXAS $70,220,000* $25,975,000* AIRPORT SYSTEM REVENUE PASSENGER FACILITY CHARGE REFUNDING BONDS, AND SUBORDINATE LIEN SERIES 2012 (AMT) AIRPORT SYSTEM REVENUE REFUNDING BONDS, SERIES 2012 (AMT) Dated: April 15, 2012 (interest accrues from date of delivery) Due: July 1, as shown herein The $70,220,000* “City of San Antonio, Texas Airport System Revenue Refunding Bonds, Series 2012 (AMT)” (the “2012 GARBs”) are being issued by the City of San Antonio, Texas (the “City”)
[Show full text]