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OFFICIAL STATEMENT DATED JULY 14, 2022 IN THE OPINION OF BOND COUNSEL, HEREINAFTER DEFINED, INTEREST ON THE BONDS IS EXCLUDABLE FROM GROSS INCOME FOR FEDERAL INCOME TAX PURPOSES UNDER EXISTING LAW.
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The official statement dated August refers to a formal document outlining specific financial information, disclosures, and obligations related to public financing instruments or securities.
Entities such as municipalities, school districts, or other government bodies that issue bonds or require public financing are typically required to file the official statement.
To fill out the official statement, the issuer must provide relevant financial data, project descriptions, terms of the bond, and any other required disclosures as per regulatory guidelines.
The purpose of the official statement is to inform potential investors about the financial status and risks associated with the bond issuance, ensuring transparency and compliance with securities regulations.
The official statement must report details such as issuer's financial condition, project descriptions, terms of the bonds, associated risks, and any legal or contractual obligations.
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