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execution or delivery of the Bonds, or contesting the validity of the Bonds, any proceeds of the City, concerning the issuance or sale thereof, pledge or application of the money or security provided for payment of the Bonds, or the existence or powers of the City. There are currently various litigation matters pending against the City. The City does not believe that these actions materially adversely affect the collection of Gas Tax Revenues or the payment of debt service on the Bonds. CONTINUING The City has covenanted for the benefit of owners of the Bonds to provide certain financial information and operating data relating to the City and the Gas Tax Revenues by not later than March 31 of each year commencing with the report for the 2018-19 Fiscal Year (the "Annual Report") and to provide notices of the occurrence of certain enumerated events. The Annual Report and the notices of enumerated events will be filed by the Dissemination Agent with the Municipal Securities Rulemaking Board's Electronic Municipal Market Access system ("EMMA') or any successor assigned by the Municipal Securities Rulemaking Board or Securities and Exchange Commission. These covenants have been made in order to assist the Underwriter in complying with Rule 15c2-12 promulgated under the Securities Exchange Act of 1934, as amended (the "Rule'). The specific nature of the information to be contained in the Annual Report or the notices of enumerated events by the City is set forth in "APPENDIX C FORM OF CONTINUING DISCLOSURE AGREEMENT." [TO BE UPDATED] UNDERWRITING The Bonds are being purchased by Samuel A. Ramirez & Co., Inc. (the "Underwriter'). The Underwriter has agreed to purchase the Bonds at a purchase price of $ (which is equal to the principal amount of the Bonds ($ ), plus/less original issue premium/discount of $ less an underwriter's discount of $ ). The contract of purchase pursuant to which the Bonds are being purchased by the Underwriter provides that the Underwriter will purchase all of the Bonds if any are purchased. The obligation of the Underwriter to make such purchase is subject to certain terms and conditions set forth in the contract of purchase. The Underwriter may offer and sell the Bonds to certain dealers and others at prices or yields different from the prices or yields stated on the cover page of this Official Statement. In addition, the offering prices or yields may be changed from time to time by the Underwriter. Although the Underwriter expects to maintain a secondary market in the Bonds after the initial offering, no guarantee can be made that such a market will develop or be maintained by the Underwriter or others. 255A2109