PRELIMINARY OFFICIAL STATEMENT DATED SEPTEMBER 29, 2016 Ratings: Moody’s: ______ S&P: “AAA” Fitch: “AAA” (See “Ratings” herein) NEW ISSUE—Book-Entry Only This Official Statement has been prepared by the Local Government Commission of North Carolina and the City of Charlotte, North Carolina to provide information in connection with the sale and issuance of the 2016A Bonds described herein. Selected information is presented on this cover page for the convenience of the user. To make an informed decision regarding the 2016A Bonds, a prospective investor should read this Official Statement in its entirety. Unless indicated, capitalized terms used on this cover page have the meanings given in this Official Statement. $111,060,000* CITY OF CHARLOTTE, NORTH CAROLINA General Obligation Refunding Bonds, Series 2016A Dated: Date of Delivery Due: As shown on inside cover page Tax Treatment In the opinion of Parker Poe Adams & Bernstein LLP, Bond Counsel, under existing law (1) assuming compliance by the City with certain requirements of the Internal Revenue Code of 1986, as amended, interest on the 2016A Bonds (a) is excludable from gross income for federal income tax purposes, and (b) is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations, and (2) interest on the 2016A Bonds is exempt from State of North Carolina income taxation. See “TAX TREATMENT” herein. Redemption The 2016A Bonds are subject to optional redemption before their maturities as described herein. Security The 2016A Bonds constitute general obligations of the City, secured by a pledge of the faith and credit and taxing power of the City. Interest Payment Dates January 1 and July 1, commencing January 1, 2017. Denominations $5,000 or any integral multiple thereof. Expected Closing/Settlement on or about November 1, 2016. Bond Counsel Parker Poe Adams & Bernstein LLP. Underwriters’ Counsel McGuireWoods LLP. Financial Advisor DEC Associates, Inc. Record Date The fifteenth day of the month preceding each interest payment date. BofA Merrill Lynch Wells Fargo Securities The date of this Official Statement is October _, 2016. This Preliminary Official Statement and the information contained herein are subject to completion or amendment. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, buy, to Under no circumstances shall this Preliminary to sell or the solicitation of an offer This Preliminary Official Statement constitute an offer contained herein are subject to completion or amendment. Official Statement and the information any such jurisdiction. priorlaws of qualification or filing under the securities to registration, be unlawful solicitation or sale would sale of these securities jurisdictionnor shall there be any in any in which such offer, * Preliminary, Subject to Change. MATURITY SCHEDULE* $111,060,000 Bonds Due July 1 of the year indicated Year Amount Rate Yield CUSIP1 2017 $ 5,550,000 2018 5,555,000 2019 5,555,000 2020 5,555,000 2021 5,555,000 2022 5,555,000 2023 5,555,000 2024 5,555,000 2025 5,555,000 2026 5,555,000 2027 5,555,000 2028 5,555,000 2029 5,555,000 2030 5,550,000 2031 5,550,000 2032 5,550,000 2033 5,550,000 2034 5,550,000 2035 5,550,000 2036 5,550,000 *Preliminary, Subject to Change. 1CUSIP® is a registered trademark of the American Bankers Association. CUSIP Global Services is managed on behalf of the American Bankers Association by S&P Capital IQ. Copyright©2014 CUSIP Global Services. All rights reserved. CUSIP data herein is provided by S&P Capital IQ, a division of McGraw-Hill Financial, Inc. The CUSIP data herein is provided solely for the convenience of reference only, and neither the City nor the Underwriters make any representation to the correctness of the CUSIP numbers either as printed on the 2016A Bonds or as contained herein *Preliminary, Subject to Change. CITY OF CHARLOTTE, NORTH CAROLINA _______________ City Council Jennifer Roberts .................................................................................................................................... Mayor Vi Lyles .................................................................................................................................. Mayor Pro Tem Julie Eiselt LaWana Mayfield Claire Green Fallon Greg Phipps James Mitchell John Autry Patsy Kinsey Kenny Smith Al Austin Ed Driggs _______________ City Staff Ron Kimble .................................................................................................................. Interim City Manager Randy J. Harrington ................................................................................................... Chief Financial Officer Robert E. Hagemann, Esq. ........................................................................................................ City Attorney _______________ Financial Advisor DEC Associates, Inc. Charlotte, North Carolina _______________ Bond Counsel Parker Poe Adams & Bernstein LLP Charlotte, North Carolina IN CONNECTION WITH THIS OFFERING, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED AND WELLS FARGO BANK, NATIONAL ASSOCIATION (THE “UNDERWRITERS”) MAY OVERALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICE OF THE 2016A BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET, AND SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. No dealer, broker, salesman or other person has been authorized to give any information or to make any representation in connection with this offering other than as contained in this Official Statement, and, if given or made, such other information or representation must not be relied upon. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the 2016A Bonds by any person, in any jurisdiction in which it is not lawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the City and from other sources that are deemed to be reliable, but is not guaranteed as to accuracy or completeness by the Underwriters, and is not to be construed as a representation by the Underwriters. The electronic distribution of this Official Statement does not constitute an offer to sell or the solicitation of an offer to buy the 2016A Bonds described herein to the residents of any particular state and is not specifically directed to the residents of any particular state. The 2016A Bonds will not be offered or sold in any state unless and until they are either registered pursuant to the laws of such state, or qualified pursuant to an appropriate exemption from registration in such state. The information set forth herein has been obtained from sources which are believed to be reliable and is in form deemed final by the City for the purpose of Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (except for certain information permitted to be omitted under Rule 15c2-12(b)(1)). Neither the 2016A Bonds nor the Bond Resolution (as hereinafter defined) has been registered or qualified with the Securities and Exchange Commission by reason of the provisions of Section 3(a)(2) of the Securities Act of 1933, as amended, and Section 304(a)(4) of the Trust Indenture Act of 1939, as amended. The registration or qualification of the 2016A Bonds and the Bond Resolution in accordance with applicable provisions of securities laws of the states in which the 2016A Bonds and the Bond Resolution have been registered or qualified, and the exemption from registration or qualification in other states, will not be regarded as a recommendation thereof. In making an investment decision investors must rely on their own examination of the terms of the offering, including the merits and risks involved. These securities have not been recommended by any federal or state securities commission or regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this document. Any representation to the contrary is a criminal offense. All quotations from and summaries and explanations of laws and documents herein do not purport to be complete, and reference is made to such laws and documents for full and complete statements of their provisions. Any statements made in this Official Statement involving estimates or matters of opinion, whether or not expressly so stated, are intended merely as estimates or opinions and not as representations of fact. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale of the 2016A Bonds will under any circumstances create any implication that there has been no change in the affairs of the City since the date hereof. The CUSIP numbers on the inside cover of this Official Statement are provided for convenience of reference only. Neither the City nor the Underwriters make any representation as to the correctness of the CUSIP numbers either as printed on the 2016A Bonds or as contained in this Official Statement. The Underwriters have provided the following sentence for inclusion in this Official Statement. The Underwriters have reviewed the information in this Official Statement in accordance with, and as a part of, their respective responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but