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TABLE OF CONTENTS <br /> SUMMARY iii <br /> INTRODUCTION 1 <br /> THE AUTHORITY 2 <br /> THE BONDS 2 <br /> General Provisions 2 <br /> Book-Entry Only System 3 <br /> Mandatory Redemption from Optional Prepayment of Lease Payments 5 <br /> Special Mandatory Redemption 5 <br /> Notice of Redemption 5 <br /> Selection of Bonds for Redemption 6 <br /> Purchase of Bonds in Lieu of Redemption 6 <br /> Transfer and Exchange of Bonds 6 <br /> Bonds Mutilated, Lost, Destroyed or Stolen 7 <br /> SECURITY FOR THE BONDS 7 <br /> Lease Payments 7 <br /> Reserve Account 7 <br /> Covenant to Budget and Appropriate 8 <br /> No Additional Bonds 8 <br /> MUNICIPAL BOND INSURANCE POLICY 8 <br /> ESTIMATED SOURCES AND USES OF FUNDS 10 <br /> DEBT SERVICE FOR THE BONDS 11 <br /> RISK FACTORS 12 <br /> No Full Faith and Credit 12 <br /> Financial Condition of Members 13 <br /> Abatement 13 <br /> Limited Recourse on Default 14 <br /> Loss of Tax Exemption 14 <br /> Constitutional Limitations on Taxation and Appropriations 14 <br /> THE MEMBERS AND THE LEASED PREMISES 16 <br /> General; Leased Premises 16 <br /> General Funds; Economic and Statistical Data 17 <br /> Sales Tax Revenues 17 <br /> Assessed Valuation and Tax Collection 17 <br /> The Teeter Plan 18 <br /> Other Tax Revenues 19 <br /> THE PROJECT 19 <br />