10A Action 2014 0902 - Laserfiche WebLink

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64 deductible for federal income tax purposes. Owners of premium Bonds, including purchasers who do not purchase in the original offering, should consult their own tax advisors with respect to State of California personal income tax and federal income tax consequences of owning such Bonds. In the further opinion of Bond Counsel, interest on the 2014 Bonds is exempt from California personal income taxes. Owners of the 2014 Bonds should also be aware that the ownership or disposition of, or the accrual or receipt of interest on, the 2014 Bonds may have federal or state tax consequences other than as described above. Bond Counsel expresses no opinion regarding any federal or state tax consequences arising with respect to the 2014 Bonds other than as expressly described above. CONCLUDING INFORMATION Underwriting The 2014 Bonds are being purchased by Stifel, Nicolaus & Company, Incorporated (the “Underwriter”). The Underwriter has agreed to purchase the 2014 Bonds at a price of $_________________ (being the principal amount of the 2014 Bonds less a net original issue discount of $__________________ and less an Underwriter’s discount of $__________________). The Underwriter will purchase all of the 2014 Bonds if any are purchased. The Underwriter may offer and sell Bonds to certain dealers and others at a price lower than the offering price stated on the inside cover page of this Official Statement. The offering price may be changed from time to time by the Underwriter. Legal Opinion The final approving opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, will be furnished to the purchaser at the time of delivery of the 2014 Bonds. A copy of the proposed form of Bond Counsel’s final approving opinion with respect to the 2014 Bonds is attached hereto as Appendix B. In addition, certain legal matters will be passed on by Jones Hall, A Professional Law Corporation, as Disclosure Counsel and Stradling Yocca Carlson & Rauth, A Professional Corporation, as Underwriter’s Counsel. Certain legal matters will be passed on for the Successor Agency by the Meyers, Nave, Riback, Silver & Wilson, as City Attorney and Successor Agency counsel. Compensation paid to Bond Counsel, Disclosure Counsel and Underwriter’s Counsel is contingent upon the sale and delivery of the 2014 Bonds.