I-1 - Preliminary Official Statement - UR Loan Agreement

TABLE OF CONTENTS Page SUMMARY OF OFFERING .....................................................................................................................................2 PRINCIPAL CITY OFFICIALS ................................................................................................................................3 AUTHORITY AND PURPOSE.................................................................................................................................4 SECURITY/SOURCES AND USES OF FUNDS .....................................................................................................4 BONDHOLDERS’ RISKS .........................................................................................................................................5 DESCRIPTION OF THE BONDS .............................................................................................................................7 FULL CONTINUING DISCLOSURE ......................................................................................................................9 UNDERWRITING ...................................................................................................................................................10 FUTURE FINANCING............................................................................................................................................10 BOND RATING .......................................................................................................................................................10 LITIGATION ...........................................................................................................................................................10 CERTIFICATION ....................................................................................................................................................10 LEGALITY ..............................................................................................................................................................10 TAX EXEMPTION AND RELATED TAX MATTERS ........................................................................................11 PROPERTY TAX LEGISLATION .........................................................................................................................13 GENERAL INFORMATION ..................................................................................................................................14 IOWA PROPERTY VALUATIONS; DEBT LIMITATIONS ................................................................................19 ECONOMIC AND FINANCIAL INFORMATION ................................................................................................21 SUMMARY OF DEBT AND DEBT STATISTICS ................................................................................................23 APPENDIX A – FORM OF BOND COUNSEL OPINION APPENDIX B – CONTINUING DISCLOSURE CERTIFICATE APPENDIX C – CITY’S FINANCIAL STATEMENT THE BONDS ARE OFFERED, SUBJECT TO PRIOR SALE, WHEN, AS AND IF ACCEPTED BY THE UNDERWRITER(S) NAMED ON THE FRONT COVER OF THIS OFFICIAL STATEMENT AND SUBJECT TO AN OPINION AS TO VALIDITY OF THE BONDS BY BOND COUNSEL. SUBJECT TO APPLICABLE SECURITIES LAWS AND PREVAILING MARKET CONDITIONS, THE UNDERWRITER(S) INTENDS BUT IS NOT OBLIGATED, TO AFFECT SECONDARY MARKET TRADING FOR THE BONDS. CLOSING DATE IS ESTIMATED TO BE MAY 18, 2022. NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS OTHER THAN THOSE CONTAINED IN THIS OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERS MADE HEREBY, AND IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE CITY OR THE UNDERWRITER(S). NEITHER THE DELIVERY OF THIS OFFICIAL STATEMENT NOR ANY SALE HEREUNDER SHALL UNDER ANY CIRCUMSTANCES CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE CITY SINCE THE DATE HEREOF. THIS OFFICIAL STATEMENT DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORIZED, OR IN WHICH THE PERSON MAKING SUCH OFFER OR SOLICITATION IS NOT QUALIFIED TO DO SO, OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. THE INFORMATION SET FORTH HEREIN HAS BEEN OBTAINED FROM THE CITY AND OTHER SOURCES WHICH ARE BELIEVED TO BE RELIABLE, BUT IT IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS BY, AND IS NOT TO BE CONSTRUED AS A REPRESENTATION BY, THE UNDERWRITER(S). WITHIN THE MEANING OF SECURITIES AND EXCHANGE COMMISSION RULE 15C2-12, THE INFORMATION INCLUDED IN THE PRELIMINARY OFFICIAL STATEMENT IS DEEMED FINAL BY THE ISSUER AS OF ITS DATE AND IS ACCURATE AND COMPLETE IN ALL MATERIAL RESPECTS, EXCEPT FOR THE OMISSION OF THE OFFERING PRICE(S), INTEREST RATE(S), SELLING COMPENSATION, AGGREGATE PRINCIPAL AMOUNT, PRINCIPAL AMOUNT PER MATURITY, DELIVERY DATE, RATING(S), AND OTHER TERMS OF THE ISSUE DEPENDING ON SUCH MATTERS, AND THE IDENTITY OF THE UNDERWRITER(S).