PRELIMINARY OFFICIAL STATEMENT DATED JUNE 1, 2016 NEW ISSUE Ratings: Moody’s: “A2” AGM Insured; “A2” Underlying BOOK-ENTRY-ONLY S&P: “AA” AGM Insured; “A” Underlying This Official Statement has been prepared by the District to provide information about the Series 2016 Bonds. Selected information is presented on this cover page for the convenience of the reader. To make an informed decision, a prospective investor should read this Official Statement in its entirety. WISCONSIN CENTER DISTRICT $60,000,000* SENIOR DEDICATED TAX REVENUE BONDS, SERIES 2016A (MILWAUKEE ARENA PROJECT) Dated: Date of delivery. Due: December 15, as shown on the inside front cover page. Authorized Denominations: Current Interest Bonds: $5,000 or any multiple thereof. Capital Appreciation Bonds: Denominations that will result in the Accreted Value at maturity of each Capital Appreciation Bond being equal to $5,000 or any integral multiple thereof. Interest: Current Interest Bonds: Payable on December 15, 2016 and semi-annually thereafter on each June 15 and December 15. Capital Appreciation Bonds: Payable only at maturity. Redemption: The Series 2016 Bonds are subject to optional redemption as described herein. See “DESCRIPTION OF THE SERIES 2016 BONDS – Redemption.” Purpose: The proceeds from the sale of the Series 2016 Bonds will be used for the purpose of: (i) financing a portion of certain of the costs associated with the initial construction and development of sports and entertainment arena facilities, including an arena, administrative offices, plazas, access ways, sidewalks and walkways, parking, storage, loading and transportation facilities, team stores, a proposed skywalk and outdoor entertainment areas in the City of Milwaukee, Wisconsin; (ii) funding the Senior Debt Service Reserve Account within the Senior Debt Service Reserve Fund for the Series 2016 Bonds; and (iii) paying costs of issuance. Security: The Series 2016 Bonds are payable from and secured by a pledge of Tax Revenues, which consist of a Local Food and Beverage Tax, a Local Rental Car Tax, a Basic Room Tax and an Additional Room Tax and certain of the Funds and other monies held under the General Resolution. See “SECURITY FOR THE SERIES 2016 BONDS” and “DISTRICT TAXES.” The Series 2016 Bonds are special, limited obligations of the District, and neither the full faith and credit nor the taxing power of the State of Wisconsin, the City of Milwaukee, the County of Milwaukee, or any political subdivision of the State of Wisconsin other than the District (with respect to the Tax Revenues) will be pledged to the payment of the principal of, premium, if any, or interest on the Series 2016 Bonds. Bond Insurance The scheduled payment of principal of (or, in the case of Capital Appreciation Bonds, the (for Insured Bonds only): accreted value) and interest on the Series 2016 Bonds maturing on December 15 of the years _____ through _____, inclusive (the “Insured Bonds”) when due will be guaranteed under an insurance policy to be issued concurrently with the delivery of the Bonds by ASSURED GUARANTY MUNICIPAL CORP. Tax Matters: Interest on the Series 2016 Bonds is excludable from gross income for federal income tax purposes and is not an item of tax preference. Interest on the Series 2016 Bonds is exempt from present Wisconsin income taxes. See “TAX MATTERS.” Bond and Disclosure Counsel: Quarles & Brady LLP. Trustee: U.S. Bank National Association. Book-Entry System: The Depository Trust Company. Date of Delivery: The Series 2016 Bonds are offered when, as and if issued subject to the approval of legality by Quarles & Brady LLP, Milwaukee, Wisconsin, Bond Counsel. The Series 2016 Bonds are expected to be delivered through the facilities of The Depository Trust Company in New York, New York on or about ________, 2016.* MORGAN STANLEY STIFEL Citigroup Ramirez & Co., Inc. RBC Capital Markets Siebert Brandford Shank & Co., L.L.C. US Bancorp THIS PRELIMINARY OFFICIAL STATEMENT AND THE INFORMATION CONTAINED HEREIN ARE SUBJECT TO COMPLETION AND AMENDMENT. These securities may not be sold, nor may an offer to buy be accepted prior to the time the Official Statement is delivered in be accepted prior to the time Official Statement is delivered to buy an offer not be sold, nor may These securities may COMPLETION AND AMENDMENT. TO HEREIN ARE SUBJECT CONTAINED THE INFORMATION AND OFFICIAL STATEMENT THIS PRELIMINARY would be unlawful solicitation, or sale any jurisdictionany sale of these securities, in in which such an offer, buy these securities, nor shall there be to Under no circumstances shall this Preliminary to sell or the solicitation of an offer Official Statement constitute an offer form. final revision, amendment, and completion in a final Official Statement. for This Preliminary form but is subject to deemed final as of its date purposes of SEC Rule 15c2-12(b)(1) Official Statement is in a prior of such jurisdiction. or qualification under the securities to registration laws *Preliminary, subject to change. WISCONSIN CENTER DISTRICT $60,000,000* SENIOR DEDICATED TAX REVENUE BONDS, SERIES 2016A CURRENT INTEREST BONDS Maturity* Principal Interest (December 15) Amount* Rate Yield CUSIP(1) 2016 $ % % 2017 2018 2019 2020 CAPITAL APPRECIATION BONDS Maturity* Original Principal Approximate Price Per $5,000 (December 15) Amount* Yield to Maturity Maturity Amount CUSIP(1) 2033 $ % % 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 (1) CUSIP numbers have been assigned by an independent company not affiliated with the District and are included solely for the convenience of the holders of the Series 2016 Bonds. The District is not responsible for the selection or uses of these CUSIP numbers, and no representation is made as to their correctness on the Series 2016 Bonds or as indicated above. * Preliminary, subject to change. WISCONSIN CENTER DISTRICT MEMBERS OF THE BOARD Scott A. Neitzel, Chairman James C. Kaminiski, Vice Chairman Kathy Ehley, Secretary Joel Brennan, Treasurer Jason Allen Stephen H. Marcus Peter Barca Martin Matson Robert Bauman Ashanti Hamilton Milele Coggs Jeff Sherman Scott Fitzgerald Jennifer Shilling James Kanter Robin Vos Rebeca Lopez PRESIDENT AND CHIEF EXECUTIVE OFFICER Russell Staerkel GENERAL COUNSEL Michael, Best & Friedrich LLP BOND COUNSEL AND DISCLOSURE COUNSEL Quarles & Brady LLP UNDERWRITERS' COUNSEL Nixon Peabody LLP FINANCIAL ADVISOR Robert W. Baird & Co. Incorporated FEASIBILITY CONSULTANT HVS Convention, Sports & Entertainment Facilities Consulting NOTICE TO INVESTORS General No dealer, broker, sales representative, or other person has been authorized by the Wisconsin Center District (the "District") or the underwriters named on the front cover hereof (the "Underwriters") to give any information or make any representations, other than those contained in this Official Statement, and if given or made, such other information or representations must not be relied upon as having been authorized by any of the foregoing. This Official Statement does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the District's Senior Dedicated Tax Revenue Bonds, Series 2016A (the "Series 2016 Bonds") by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation, or sale. The information set forth herein has been obtained from the District and other sources which are believed to be reliable. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the District or the information contained herein since the date hereof. 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 part of, their responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriters do not guarantee the accuracy or completeness of such information. In connection with this offering, the Underwriters may over-allot or effect transactions which stabilize or maintain the market price of the Series 2016 Bonds at a level above that which might otherwise prevail in the open market. Such stabilizing, if commenced, may be discontinued at any time. The Underwriters may offer and sell the Series 2016 Bonds to certain dealers, dealer banks, and banks acting as agents at prices lower than the public offering prices stated on the inside cover page of this Official Statement, and said public offering prices may be changed from time to time by the Underwriters. In making an investment decision, investors must rely on their own examination of the District and the terms of the offering, including the merits and risks involved. Investors must read this entire Official Statement to obtain information essential to the making of an informed investment decision. An investment in the Series 2016 Bonds involves certain risks. See "RISK FACTORS." 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. Assured Guaranty Municipal Corp. ("AGM") makes no representation regarding