Preliminary Official Statement Dated November 9, 2018

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Preliminary Official Statement Dated November 9, 2018 PRELIMINARY OFFICIAL STATEMENT DATED NOVEMBER 9, 2018 This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must read the entire Official Statement to obtain information essential to the making of an informed investment decision. NEW ISSUE RATINGS: See "RATINGS" herein In the opinion of Bond Counsel, assuming continuing compliance with the provisions of the Internal Revenue Code of 1986, as amended (the “Code”) applicable to the Bonds and the Tax-Exempt Notes and subject to certain provisions of the Code which are described herein, under laws, regulations, rulings and judicial decisions existing on the date of the original delivery of the Bonds and the Tax-Exempt Notes, interest on the Bonds and the Tax-Exempt Notes is excluded from gross income of the owners thereof for federal income tax purposes under Section 103 of the Code. In the further opinion of Bond Counsel, interest on the Bonds and the Tax-Exempt Notes is not treated as a preference item for purposes of the alternative minimum tax imposed by the Code on individuals or corporations; however, for taxable years that began before January 1, 2018, interest on the Bonds and the Tax-Exempt Notes will be included in “adjusted current earnings” in computing alternative minimum taxable income for purposes of the alternative minimum tax imposed by the Code on certain corporations. The corporate alternative minimum tax has been repealed for taxable years beginning on or after January 1, 2018. Interest on the Taxable Notes is not excluded from gross income of the owners thereof for federal income tax purposes. Under the laws of the State of New Jersey, as enacted and construed on the date of the original delivery of the Bonds and the Notes, interest on the Bonds and the Notes and gain from the sale thereof are excludable from gross income under the New Jersey Gross Income Tax Act. See “TAX MATTERS” herein. CITY OF JERSEY CITY in the County of Hudson, New Jersey ge without notice. The securities described herein may not be sold nor may offers to buy be buy to offers may nor sold be not may herein described securities The notice. without ge * ficial Statement constitute an offer to sellorthe solicitationofanoffer to buynor shallthere be $9,447,000 GENERAL IMPROVEMENT BONDS, SERIES 2018 ion or qualification under the applicable securities laws of any such jurisdiction. jurisdiction. such of any laws securities applicable the under qualification or ion and $51,223,983 NOTES Consisting of: $19,200,000 SPECIAL EMERGENCY NOTES, SERIES 2018E (FEDERALLY TAXABLE), $3,000,000 SPECIAL EMERGENCY NOTES, SERIES 2018F, $14,023,983 BOND ANTICIPATION NOTES, SERIES 2018G and $15,000,000 BOND ANTICIPATION NOTES, SERIES 2018H Dated: Date of Delivery Due: Bonds: December 1, as shown on inside front cover Notes: December 6, 2019, as shown below The $9,447,000* General Improvement Bonds, Series 2018 (the "Bonds"), the $19,200,000 Special Emergency Notes, Series 2018E (Federally Taxable) (the "Taxable Notes" or the "Series 2018E Notes"), the $3,000,000 Special Emergency Notes, Series 2018F (the "Series 2018F Notes"), the $14,023,983 Bond Anticipation Notes, Series 2018G (the "Series 2018G Notes") and the $15,000,000 Bond Anticipation Notes, Series 2018H (the "Series 2018H Notes", and together with the Series 2018F Notes, the "Tax-Exempt Notes"), will be issued by the City of Jersey City, in the County of Hudson, New Jersey (the "City"). The Taxable Notes and the Tax-Exempt Notes are hereinafter referred to as the "Notes". The Bonds will be issued as fully registered Bonds and, when issued, will be registered in the name of and held by Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”). Purchases of the Bonds will be made in book-entry-only form (without certificates) in denominations of $5,000 or more. So long as DTC, or its nominee Cede & Co., is the registered owner of the Bonds, payments of the principal of and interest on the Bonds of such series are to be made directly to Cede & Co., which is to remit such payments to DTC participants, which in turn is to remit such payments to the beneficial owners of the Bonds (see “DESCRIPTION OF THE BONDS AND THE NOTES – Book-Entry Only System” herein). Interest on the Bonds is payable semiannually on June 1 and December 1 in each year until maturity or prior redemption, as applicable, commencing June 1, 2019. The Bonds are subject to redemption prior to their stated maturities as more fully described herein. See “DESCRIPTION OF THE BONDS AND THE NOTES – Redemption of the Bonds and Notes” herein. * Preliminary, subject to change. accepted prior to the time the Official Statement is delivered in final form. Under no circumstances shall this Preliminary Of Preliminary this shall circumstances no Under form. final in delivered is Statement Official the time the to prior accepted any sale of these securitiesin any jurisdictionin which suchoffer, solicitation orsale wouldunlawful be priorregistratto This is a Preliminary Official Statement and the informationcontained herein is subjectto completion, amendment orother chan The Bonds constitute general obligations of the City and the full faith and credit and unlimited taxing power of the City are pledged to the payment of the principal of, applicable premium, if any, and interest on the Bonds. The City shall be required to levy ad valorem taxes upon all taxable property within the City for the payment of the principal of and interest on the Bonds without limitation as to rate or amount. The Bonds are not a debt or obligation, legal, moral, or otherwise, of the State of New Jersey, or any county, municipality or political subdivision thereof, other than the City. The Notes will be issued as fully registered Notes in the form of one certificate for the aggregate principal amount of each series of Notes and, when issued, will be registered in the name of and held by Cede & Co., as nominee for DTC. Purchases of the Notes of each series will be made in book-entry-only form (without certificates) in denominations of $5,000 or more. So long as DTC, or its nominee Cede & Co., is the registered owner of the Notes, payments of the principal of and interest on the Notes are to be made directly to Cede & Co., which is to remit such payments to DTC participants, which in turn is to remit such payments to be beneficial owners of the Notes (see "DESCRIPTION OF THE BONDS AND NOTES – Book Entry Only System" herein). Interest on the Notes is payable at maturity. The Notes are not subject to redemption prior to their maturity. $19,200,000 _____%, Special Emergency Notes, Series 2018E (Federally Taxable), Due December 6, 2019– Price _____% $3,000,000 _____%, Special Emergency Notes, Series 2018F, Due December 6, 2019– Price _____% $14,023,983 _____%, Bond Anticipation Notes, Series 2018G, Due December 6, 2019– Price _____% $15,000,000 _____%, Bond Anticipation Notes, Series 2018H, Due December 6, 2019– Price _____% The Notes constitute general obligations of the City, and the full faith and credit and unlimited taxing power of the City are pledged to the payment of the principal of, applicable premium, if any, and interest on the Notes. The City shall be required to levy ad valorem taxes upon all taxable real property within the City for the payment of the principal of and interest on the Notes without limitation as to rate or amount. The Notes are not a debt or obligation, legal, moral, or otherwise, of the State of New Jersey, or any county, municipality or political subdivision thereof, other than the City. The Bonds and Notes are offered when, as and if issued by the City and delivered to the respective purchasers, subject to the approval of legality by GluckWalrath LLP, Trenton, New Jersey, Bond Counsel, and other conditions described herein. NW Financial Group, LLC, Hoboken, New Jersey, has served as municipal advisor in connection with the issuance of the Bonds Notes. It is expected that the Bonds and the Notes will be available for delivery on or about December 6, 2018. The Bonds and the Notes are to be delivered through the facilities of DTC in Jersey City, New Jersey. ELECTRONIC AND FAXED PROPOSALS WILL BE RECEIVED FOR THE BONDS AND NOTES ON NOVEMBER 20, 2018 UNTIL 11:00 AM FOR THE BONDS, UNTIL 11:30 AM FOR THE TAX-EXEMPT NOTES AND UNTIL 11:45 AM FOR THE TAXABLE NOTES. FOR MORE INFORMATION ON HOW TO BID, PLEASE REFER TO THE ENCLOSED NOTICES OF SALE. MATURITIES, PAR AMOUNTS*, INTEREST RATES, YIELDS AND CUSIP NUMBERS** $9,447,000* General Improvement Bonds, Series 2018 Interest CUSIP December 1 Bonds* Rate Yield Number** 2019 $360,000 % % 476576___ 2020 365,000 476576___ 2021 370,000 476576___ 2022 380,000 476576___ 2023 390,000 476576___ 2024 400,000 476576___ 2025 415,000 476576___ 2026 425,000 476576___ 2027 440,000 476576___ 2028 450,000 476576___ 2029 465,000 476576___ 2030 480,000 476576___ 2031 500,000 476576___ 2032 515,000 476576___ 2033 530,000 476576___ 2034 550,000 476576___ 2035 570,000 476576___ 2036 590,000 476576___ 2037 615,000 476576___ 2038 637,000 476576___ *Preliminary, subject to change. ** CUSIP is a registered trademark of the American Bankers Association. CUSIP numbers are provided by Standard & Poor’s CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. The CUSIP Numbers listed above are being provided solely for the convenience of Bondholders only at the time of issuance of the Bonds and the City does not make any representations with respect to such numbers or undertake any responsibility for their accuracy now or at any time in the future.
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