SECOND SUPPLEMENT TO THE PRELIMINARY OFFICIAL STATEMENT relating to $4,250,000 FAIRFAX ELEMENTARY SCHOOL DISTRICT (Kern County, California) 2020 General Obligation Refunding Bonds (Federally Taxable) This Second Supplement to the Preliminary Official Statement (this “Supplement”), provides information in connection with the sale of the above-captioned refunding bonds (the “Bonds”) and supplements the Preliminary Official Statement of the Fairfax Elementary School District, dated August 26, 2020, as supplemented by the Supplement to the Preliminary Official Statement dated August 27, 2020 (collectively, the “Preliminary Official Statement”), relating to the Bonds. All persons in possession of the Preliminary Official Statement are requested to permanently insert this Supplement inside the front cover of, or otherwise attached this Supplement to, the Preliminary Official Statement. All terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Preliminary Official Statement. 1. The following paragraph shall be added at page C-4 of the Preliminary Official Statement, to follow paragraph 7 of subsection (b) of Section 5 of the Form of Continuing Disclosure Certificate in Appendix C: 8. incurrence of a Financial Obligation, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation, any of which affect Bondowners. Dated: August 31, 2020 Preliminary, subject to change. 1 4821-7564-8201v2/200530-0005 [THIS PAGE INTENTIONALLY LEFT BLANK] SUPPLEMENT TO THE PRELIMINARY OFFICIAL STATEMENT relating to $4,250,000* FAIRFAX ELEMENTARY SCHOOL DISTRICT (Kern County, California) 2020 General Obligation Refunding Bonds (Federally Taxable) This Supplement to the Preliminary Official Statement (this “Supplement”), provides information in connection with the sale of the above-captioned refunding bonds (the “Bonds”) and supplements the Preliminary Official Statement of the Fairfax Elementary School District, dated August 26, 2020 (the “Preliminary Official Statement”), relating to the Bonds. All persons in possession of the Preliminary Official Statement are requested to permanently insert this Supplement inside the front cover of, or otherwise attached this Supplement to, the Preliminary Official Statement. All terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Preliminary Official Statement. 1. On the front cover page of the Preliminary Official Statement, under “RATING,” the rating on the Bonds shall be modified to read as follows: “RATING: Standard & Poor’s: “A+”” 2. The entire Section beginning on page 75 of the Preliminary Official Statement, under the heading “MISCELLANEOUS - Rating” shall be replaced in its entirety with the following: “Rating The Bonds have been assigned a rating of “A+” by S&P. The rating reflects only the views of S&P, and any explanation of the significance of such rating should be obtained therefrom. There is no assurance that the rating will be retained for any given period of time or that the same will not be revised downward or withdrawn entirely by S&P if, in its judgment, circumstances so warrant. The District undertakes no responsibility to oppose any such revision or withdrawal. Any such downward revision or withdrawal of the rating obtained may have an adverse effect on the market price of the Bonds. The ratings reflect only the view of the rating agency, and any explanation of the significance of such rating should be obtained from the rating agency at the following address: S&P, 55 Water Street, 45th Floor, New York, New York 10041. There is no assurance that the rating will be retained for any given period of time or that the same will not be revised downward or withdrawn entirely by the rating agency if, in the judgment of the rating agency, circumstances so warrant. The District undertakes no responsibility to oppose any such revision or withdrawal. Any such downward revision or withdrawal of the rating obtained may have an adverse effect on the market price of the Bonds. Generally, rating agencies base their ratings on information and materials furnished to them (which may include information and material from the District which is not included in this Official Statement) and on investigations, studies and assumptions by the rating agencies. The District has covenanted in a Continuing Disclosure Certificate to file on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access website (“EMMA”) notices of any rating changes on the Bonds. See “APPENDIX C – FORM OF CONTINUING DISCLOSURE CERTIFICATE” attached hereto. Notwithstanding such covenant, information relating to rating changes 1 on the Bonds may be publicly available from the rating agency prior to such information being provided to the District and prior to the date the District is obligated to file a notice of rating change on EMMA. Purchasers of the Bonds are directed to the rating agency and its website and official media outlets for the most current rating changes with respect to the Bonds after the initial issuance of the Bonds.” Dated: August 27, 2020 FAIRFAX ELEMENTARY SCHOOL DISTRICT By: /s/ Michael Coleman Superintendent ________________________ * Preliminary, subject to change. 2 PRELIMINARY OFFICIAL STATEMENT DATED AUGUST 26, 2020 NEW ISSUE—FULL BOOK-ENTRY RATING: Standard & Poor’s: “___” (See “MISCELLANEOUS – Rating” herein) In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, San Francisco, California (“Bond Counsel”), under existing statutes, regulations, rulings and judicial decisions, interest on the Bonds is not excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended. In the further opinion of Bond Counsel, interest (and original issue discount) on the Bonds is exempt from State of California personal income tax. See “TAX constitute constitute an offer to MATTERS” herein with respect to tax consequences relating to the Bonds. $4,250,000* FAIRFAX ELEMENTARY SCHOOL DISTRICT (Kern County, California) 2020 General Obligation Refunding Bonds (Federally Taxable) ties may not be sold, nor may offers to buy Dated: Dated Date Due: November 1, as shown herein h offer, solicitation or sale would be unlawful. iminary Official Statement 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. Capitalized terms used but not otherwise defined on this cover page shall have the meanings assigned to such terms herein. The Fairfax Elementary School District (Kern County, California) 2020 General Obligation Refunding Bonds (Federally Taxable) (the “Bonds”), are being issued by the Fairfax Elementary School District (the “District”) to (i) advance refund certain of the District’s Prior Bonds (as defined herein) and (ii) pay the costs of issuing the Bonds. The Bonds are general obligations of the District payable solely from ad valorem property taxes. The Board of Supervisors of Kern County is empowered and obligated to levy ad valorem property taxes, without limitation as to rate or amount, upon all property on or amendment. These securi within the District subject to taxation thereby (except certain personal property which is taxable at limited rates), for the payment of principal of and interest on the Bonds when due. The Bonds will be issued in book-entry form only, and will be initially issued and registered in the name of Cede & Co. as nominee for The Depository Trust Company, New York, New York (collectively referred to herein as “DTC”). Purchasers of the Bonds (the “Beneficial Owners”) will not receive physical certificates representing their interest in the Bonds but will instead receive credit balances on the bonds of their respective nominees. See “THE BONDS – Book-Entry Only System” herein. The Bonds will be dated as of their date of initial delivery (the “Dated Date”) and will be issued as current interest bonds, such that interest thereon will accrue from the Dated Date and be payable semiannually on May 1 and November 1 of each year, commencing November 1, 2020. The Bonds are issuable in denominations of $5,000 principal amount or any integral multiple thereof. ed ed herein are subject to completi Payments of principal of and interest on the Bonds will be made by the designated Paying Agent, to DTC for subsequent elivered elivered in final form. Under no circumstances shall this Prel any sale of, these securities in any disbursement jurisdiction in which suc to DTC Participants (as defined herein) who will remit such payments to the Beneficial Owners of the Bonds. U.S. Bank National Association has been appointed as Paying Agent for the Bonds. See “THE BONDS – Book-Entry Only System” herein. The District has applied for municipal bond insurance for the scheduled payment of principal of and interest on the Bonds when due which, if purchased, would be issued concurrently with the delivery of the Bonds. The Bonds are subject to optional and mandatory sinking fund redemption as further described herein.* See “THE BONDS – Redemption” herein. nt and the information contain Maturity Schedule me the Official Statement is d (see inside front cover page) Pursuant to the terms of a public sale on September__, 2020, the Bonds were awarded to the Underwriter at a True-Interest Cost of ________%. The Bonds