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NEW ISSUE COVENTRY ONLY RATED In the opinion of Or rick, Herrington & Ratcliffe LLP, Bond Counsel to the Community Facilities District, based upon an analysis of existing laws, regulations, rulings

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New issue - book-entry is a process in which securities are issued electronically, without the need for physical certificates.

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To fill out new issue - book-entry, the issuer must submit the necessary information electronically to the relevant securities depository.

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The information reported on new issue - book-entry typically includes details about the securities being issued, the issuer, and the terms of the offering.

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