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Investment Disclosures
This is neither a solicitation of an offer to buy, nor an offer to sell securities. Offer is made by prospectus only. Bonds subject to prior sale.
- This is a best efforts offering, and no assurance is given that all Bonds will be sold. There is no assurance that the Bonds will be successfully marketed. In the event all Bonds are not sold, the Issuer may not have or be able to obtain sufficient funds to complete the project which could have a material adverse effect on the project, which is the security for the Bonds.
- The Issuer is primarily dependent on contributions of the membership to meet expenses for operation, to provide funds to complete the project, and to pay principal and interest on the Bonds. Contributions may fluctuate upward or downward from year to year. If the project is not completed, it will have a material adverse effect on the security for the Bonds.
- If actual costs of the project are higher than projected, the Issuer must provide additional funds to complete the project, and there is no assurance that such additional funds would be available if needed. If construction of the facility is not completed, it could have a material adverse effect on the security for the Bonds.
- The Fiscal Advisor does not intend to make a secondary market in the Bonds with which it is associated. A public market for the Bonds does not exist, and the Fiscal Advisor is not obligated to maintain a secondary market. Investors may not be able to resell any Bonds purchased should they wish to do so and should be prepared to have funds committed for an indefinite period of time, perhaps until Bond maturity or early redemption.
- There is potential for early call redemption, which means that the bondholder will not get any further interest payments on or after the date fixed for redemption.
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