NOTICE OF BOND SALE
$2,895,000* RIDGE ROAD FIRE DISTRICT IN THE TOWN OF GREECE, MONROE COUNTY, NEW YORK PUBLIC IMPROVEMENT (SERIAL) BONDS, 2017 (BANK QUALIFIED) (BOOK ENTRY ONLY)
SEALED BIDS, faxed proposals or, at the option of bidders, proposals delivered via Ipreo’s Parity electronic bid submission system (“Parity”), will be received by Richard C. Frisicano, District Treasurer of the Ridge Road Fire District in the Town of Greece, Monroe County, New York (the “Fire District”) at the offices of Municipal Solutions, Inc., 2528 State Route 21, Canandaigua, New York 14424 (the “Financial Advisor”) (tel: (585) 394-4090; facsimile number: (585) 394-4092) at 11:30 o’clock a.m. (Prevailing Time) on Thursday, September 21, 2017 at which time they will be publicly announced, for the purchase in Federal Funds of the following issue of Public Improvement (Serial) Bonds, 2017 of the Fire District (the “Bonds”), to be dated the date of delivery thereof, bearing interest from the date of the Bonds, payable April 1, 2018, October 1, 2018 and semiannually thereafter on April 1 and October 1. Such interest will be payable to the registered owners of the Bonds as shown on the registration books of the Fire District as of the close of business on the Record Date, being the fifteenth day of the calendar month preceding each interest payment date. The Bonds will be payable in annual installments on October 1, in the following years and amounts:
* The aggregate principal amount of the Bonds, the purchase price thereof and the principal amounts of the installments listed in the table above are subject to change depending upon the actual interest rates bid and the successful bidder’s initial reoffering yields, in order to (i) meet the requirements of substantially level or declining annual debt service in accordance with the New York Local Finance Law, and (ii) ensure the Bonds comply with applicable Federal tax law provisions regarding overissuance. Accordingly, the Fire District reserves the right, after selecting the lowest bidder, to decrease the size of the issue and/or adjust the maturity amounts of the Bonds to the extent necessary to satisfy such requirements. The successful bidder may neither withdraw nor modify its bid as a result of any such post-bid adjustment. Any such adjustment shall be conclusive, shall be promptly communicated to the successful bidder, and shall be binding upon the successful bidder. The Bonds of each maturity, as adjusted, will bear interest at the same interest rate as specified for that maturity in the Proposal for Bonds submitted by the successful bidder for the Bonds, and must have the same initial reoffering yields as thereafter specified by such bidder. Notwithstanding any post-bid adjustment, and provided the Fire District will receive at the time of delivery of such Bonds an amount which, together with the amount of the good faith deposit theretofore received, is at least equal to the par amount (as the same may have been adjusted) of the Bonds, the Fire District will hold constant, on a per Bond basis, the successful bidder’s underwriting spread with respect to such Bonds. However, the award shall be made to the bidder whose bid produces the lowest net interest cost rate solely on the basis of the Bonds offered, without taking into account any adjustment in the amount of the Bonds pursuant to this paragraph.
The Bonds will be issued pursuant to the Constitution and statutes of the State of New York, including, among others, the Town Law, the Local Finance Law and bond resolutions dated October 16, 2012, April 11, 2013 and May 3, 2016, adopted by the Board of Fire Commissioners of the Fire District for the purpose of financing the respective public purposes and in the respective amounts for each such purpose as described in the Official Statement circulated in connection with the sale of the Bonds (the “Official Statement”). See “THE BONDS-Authorizations and Purposes” in the Official Statement.
The Bonds maturing on or before October 1, 2025 will not be subject to redemption. The Bonds maturing on or after October 1, 2026 will be subject to redemption prior to maturity as a whole or in part, and if in part, in any order of their maturity and in any amount within a maturity (in denominations of $5,000 or any integral multiple thereof), at the option of the Fire District on October 1, 2025 or on any date thereafter at par (100%), plus accrued interest to the date of redemption. Notice of the call for such redemption shall be given by mailing such notice to the registered owners thereof not more than sixty (60) days nor less than thirty (30) days prior to the designated redemption date. Notice of redemption having been given as aforesaid, the Bonds so called for redemption shall, on the date for redemption set forth in such notice of redemption, become due and payable, together with interest to such redemption date. Interest shall cease to be paid thereon after such redemption date. If less than all of the Bonds of any maturity are to be redeemed, the particular Bonds of such maturity to be redeemed shall be selected by lot in any customary manner of selection as determined by the Treasurer of the Fire District.
The Bonds will be issued in registered form by means of a book-entry system with no physical distribution of bond certificates made to the public. One bond certificate for each maturity will be issued to The Depository Trust Company, New York, New York (“DTC”) and immobilized in its custody. The book-entry system will evidence ownership of the Bonds in the principal amount of $5,000 or any integral multiple thereof for any single maturity, with transfers of ownership effected on the records of DTC and its participants pursuant to rules and procedures established by DTC and its participants. The successful bidder, as a condition to delivery of the Bonds shall be required to deposit the bond certificates with DTC, registered in the name of Cede & Co., its nominee. Principal of and interest on the Bonds will be payable to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest to participants of DTC will be the responsibility of such participants and other nominees of beneficial owners. The Fire District will not be responsible or liable for such transfers of payments or for maintaining, supervising or reviewing the records maintained by DTC, its participants or persons acting through such participants.
In the event (a) DTC determines not to continue to act as securities depository for the Bonds or (b) the Fire District determines that continuation of the book-entry system of evidence and transfer of ownership of the Bonds would adversely affect the interests of the beneficial owners of the Bonds, the Fire District will discontinue the book-entry system with DTC. If the Fire District fails to identify another qualified securities depository to replace DTC, the Fire District will deliver replacement Bonds in the form of fully registered certificates (see “THE BONDS-Book-Entry-Only-System” in the Official Statement accompanying this Notice of Bond Sale).
THE FIRE DISTRICT RESERVES THE RIGHT TO CHANGE THE TIME AND/OR DATE FOR THE OPENING OF THE BIDS. NOTICE OF ANY SUCH CHANGE SHALL BE PROVIDED NOT LESS THAN ONE HOUR PRIOR TO THE TIME SET FORTH ABOVE FOR THE OPENING OF BIDS BY MEANS OF A SUPPLEMENTAL NOTICE OF BOND SALE TO BE TRANSMITTED OVER TM3.
The Bonds WILL be designated as “qualified tax-exempt obligations” pursuant to Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the “Code”).
Each bid must be for all of said $2,895,000 in Bonds and must state a multiple of one-eighth of one percent or one-hundredth of one percent, the rate or rates per annum at which the Bonds are to bear interest, and may state different rates of interest for Bonds maturing in different calendar years; provided, however, that (i) only one rate of interest may be bid for all Bonds maturing in any one calendar year, (ii) variations in rates of interest so bid shall be in ascending progression in order of maturity so that the rates of interest on the Bonds maturing in any particular calendar year shall not be less than the rate of interest applicable to the Bonds maturing in any prior calendar year, and (iii) the maximum difference between the highest and lowest rate of interest applicable to the Bonds may not exceed three percent per annum.
Unless all bids are rejected, the award will be made to the bidder complying with the terms of sale and offering to purchase said Bonds at such rate or rates of interest which will produce the lowest interest cost computed in accordance with the net interest cost method of calculation, that being the rate or rates of interest which will produce the least interest cost over the life of the Bonds, after accounting for the premium offered, if any. If two or more such bidder’s offer to purchase the Bonds at the same net interest cost, computed as described above, the Bonds will be awarded to the bidder whose bid offers to purchase the Bonds at the highest premium dollar amount. The right is reserved to reject any or all bids, and any bid not complying with this Notice of Bond Sale will be rejected.
Each bid must either be received via facsimile transmission at (585) 394-4092, or be submitted electronically via Parity. No other form of electronic bidding service nor will telephone proposals be accepted. No proposal will be accepted after the time for receiving proposals specified above. Bidders submitting proposals via facsimile must use the “Proposal for Bonds” form attached hereto. Once the proposals are communicated electronically via Parity or via facsimile to the Fire District, each bid will constitute an irrevocable offer to purchase the bonds pursuant to the terms therein provided.
Prospective bidders wishing to submit an electronic bid via Parity must be contracted customers of Parity. Prospective bidders who do not have a contract with Parity must call (212) 849-5021 to become a customer. By submitting an electronic bid for the bonds, a bidder represents and warrants to the Fire District that such bidder’s bid for the purpose of the bonds is submitted for and on behalf of such prospective bidder by an offer or agent who is duly authorized to bind the bidder to a legal, valid and enforceable contract for the purchase of the bonds.
Each prospective bidder who wishes to submit electronic bids shall be solely responsible to register to bid via Parity. Each qualified prospective bidder shall be solely responsible to make necessary arrangements to access Parity for purposes of submitting its bid in a timely manner and in compliance with the requirements of this Notice of Bond Sale. Neither the Fire District nor Parity shall have any duty or obligation to undertake such registration to bid for any prospective bidder or to provide or assure such access to any qualified prospective bidder, and neither the Fire District nor Parity shall be responsible for a bidder’s failure to register to bid or for proper operation of, or have any liability for any delays or interruptions of, or any damages caused by Parity. The Fire District is using Parity as a communications mechanism, and not as the Fire District’s agent, to conduct the electronic bidding for the Fire District’s bonds. The Fire District is not bound by any advice or determination of Parity as to whether any bid complies with the terms of this Notice of Bond Sale. All costs and expenses incurred by prospective bidders in connection with their registration and submission of bids via Parity are the sole responsibility of the bidders, and the Fire District is not responsible, directly or indirectly, for any such costs or expenses. If a prospective bidder encounters any difficult in registering to bid, or submitting or modifying a bid for the bonds, it should telephone Parity and notify the Fire District’s Financial Advisor at (585) 394-4090 (provided that the Fire District shall have no obligation to take any action whatsoever upon receipt of such notice).
If any provisions of this Notice of Bond Sale shall conflict with information provided by Parity, as approved provider of electronic bidding services, the provisions of this Notice of Bond Sale shall control. Further, information about Parity, including any fee charged, may be obtained from Parity at (212) 848-5021. The time maintained by Parity shall constitute the official time with respect to all bids submitted.
Each bidder must, as a condition precedent to the consideration of its bid, provide with its bid a certified or cashier’s check or a wire transfer in the amount of $14,475, as a good faith deposit (the “Deposit”) to secure the Fire District against loss resulting from the failure of the bidder to comply with the terms of its bid. If a certified or cashier’s check is used, it must be drawn upon an incorporated bank or trust company located in the State, payable to the order of “Ridge Road Fire District” and be enclosed with the sealed bid, or if the bid is submitted via fax or Parity in a separate sealed envelope delivered to the Fire District at the address set forth above. The check deposited by the bidder to whom the Bonds are awarded will be retained by the Fire District and the amount thereof shall be applied as provided by law. If a wire transfer is used, it must be sent to the account so designated by the Fire District for such purpose, not later than 10:00 a.m. on the date of the sale; however, the Fire District reserves the right to award the Bonds to a successful bidder whose wire transfer is initiated but not received by such time provided that such successful bidder’s fed wire reference number has been received. A wire reference number must be provided on the “Proposal for Bonds” when submitted. Bidders must contact Municipal Solutions, Inc. (tel: (585) 394-4090) no later than 24 hours prior to the sale date to obtain the Fire District’s wire instructions. No interest will be allowed upon the amount of the Deposit made by the successful bidder. The purchaser must pay accrued interest from the dated
date of Bonds to the date of delivery thereof, if any. The Deposit will be applied to the purchase price of the Bonds.
When the successful bidder has been ascertained, all such Deposits will be promptly returned to the persons making them, except the Deposit of the successful bidder. Award of the Bonds to the successful bidder, or rejection of all bids, is expected to be made promptly after opening of the bids, but such successful bidder may not withdraw this proposal until after 2:00 p.m., New York time, of the day of such bid opening and then only if such award has not been made prior to the withdrawal. The successful bidder will be promptly notified of the award, and if he refuses or neglects to pay the agreed price of the Bonds less the amount of the Deposit, such Deposit shall be forfeited to and retained by the Fire District as liquidated damages for such neglect or refusal.
The Bonds will be executed and delivered in escrow to DTC in Jersey City, New Jersey, not less than 24 hours prior to the time set for the delivery thereof. It shall be the responsibility of the purchaser to verify the CUSIP numbers at such time. The closing will be held on or about October 5, 2017, at such place and on such business day against receipt of Federal Funds, in an amount equal to the par amount of such Bonds, plus the premium, if any, including accrued interest from the date of such Bonds to the date of delivery, less the amount of the deposit submitted with the bid.
An Official Statement has been prepared and disseminated by the Fire District. The Official Statement is deemed to be a “final official statement”, as of its date, within the meaning of Rule 15c2-12 of the Securities and Exchange Commission (“SEC”), but is subject to (a) completion with certain price and other information to be made available by the successful bidder for the Bonds and (b) amendment. The Official Statement, as so revised, will constitute the “Final Official Statement”. By the submission of a bid for the Bonds, the successful bidder contracts for the receipt of a reasonable number of copies of the Final Official Statement within seven business days of the award of the Bonds. In order to complete the Final Official Statement, the successful bidder must furnish on behalf of the underwriters of the Bonds the following information to Bond Counsel and the Fire District by electronic or facsimile transmission or overnight delivery received by Bond Counsel and the Fire District within 24 hours after the award of the Bonds: (a) initial offering prices or yields (expressed as percentages), (b) selling compensation (aggregate total anticipated compensation to the underwriters expressed in dollars), (c) the identity of the underwriters if the successful bidder is part of a group or syndicate and (d) any other material information necessary for the Final Official Statement, but not known to the Fire District (such as the bidders purchase of credit enhancement). The Fire District shall not be responsible or liable in any manner for the successful bidders determination of information necessary to comply with SEC Rule 15c2-12 or the accuracy of any such information provided by the successful bidder or failure to furnish such Final Official Statement as described above which results from a failure by the successful bidder to provide the aforementioned information within the time specified. Acceptance by the successful bidder of such Final Official Statement shall be conclusive evidence of the satisfactory completion of the obligations of said Town with respect to the preparation and delivery thereof.
In accordance with the requirements of SEC Rule 15c2-12, the Fire District shall provide on the date of delivery of the Bonds a written undertaking to provide the annual financial information and operating data and notices of the occurrence of certain events, all as described in the Official Statement under the heading “LIMITED DISCLOSURE UNDERTAKING”.
As a condition of the purchasers obligation to accept delivery of and pay for the Bonds, the Fire District will furnish without cost to the purchaser the following, dated as of the date of delivery and payment for the Bonds: (1) a closing certificate constituting receipt of the Bond proceeds, (2) a certificate signed by the officers who signed the Bonds, stating that no litigation is then pending or, to the knowledge of such officers, threatened to restrain or enjoin the issuance or delivery of the Bonds or the levy or collection of taxes to pay the Bonds or the interest thereon, or questioning the validity of the statutes or the proceedings under which the Bonds are issued, and that neither the corporate existence or boundaries of the Fire District, nor the title of any of the said officers to their respective offices, is being contested and that no authority or proceedings for the issuance of the Bonds has been revoked, (3) a certificate of the Fire District Treasurer of the Fire District certifying that (a) as of the date of the Final Official Statement furnished by the Fire District in relation to the Bonds such Final Official Statement did not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, subject to the condition that while information in said Final Official Statement obtained from sources other than the Fire District is not guaranteed as to the accuracy, completeness or fairness, he has no reason to believe and does not believe that such information is materially inaccurate or misleading, and (b) to his knowledge, since the date of the Final Official Statement and since the date of the sale of the Bonds, the Fire District has engaged in no material transactions not in the ordinary course of affairs of the Fire District and no material adverse change in the general affairs of the Fire District or in its financial condition as shown in the Final Official Statement has occurred other than as disclosed in or contemplated by the Final Official Statement; (4) a tax and arbitrage certificate executed on behalf of the Fire District which includes, among other things, covenants relating to compliance with the Code, with the owners of the Bonds that the Fire District will, among other things (A) take all actions on its part necessary to cause interest on the Bonds not to be includable in gross income of the owners thereof for Federal income tax purposes, including, without limitation, restricting, to the extent necessary, the yield on investments made with the proceeds of the Bonds and investment earnings thereon, making required payments to the Federal government, if any, and maintaining books and records in a specified manner, where appropriate, and (B) refrain from taking any action which would cause interest on the Bonds to be includable in gross income of the owners thereof for Federal income tax purposes; and (5) an approving opinion as to the validity of the Bonds of Harris Beach PLLC, Rochester, New York, Bond Counsel. Reference is hereby made to the Official Statement relating to the Bonds for a description of the scope of the Bond Counsel’s engagement in relation to the issuance of the Bonds and the matters covered by such legal opinion. Furthermore, reference should be made to the information under the subheading “LEGAL MATTERS” in the Official Statement.
The Bonds are general obligations of the Fire District, payable from ad valorem taxes upon the taxable real property of the Fire District, subject to applicable statutory limits, sufficient to pay the principal of and interest on the Bonds. See “REAL PROPERTY TAX INFORMATION-Tax Levy Limitation Law” within the Final Official Statement. The State Constitution requires the Fire District to pledge its faith and credit for the payment of such interest and the redemption of the Bonds. The State Constitution also provides that if at any time the Fire District fails to make the required appropriations for annual debt service on the Bonds and certain other obligations of the Fire District, a sufficient sum shall be set apart from the first revenues thereafter received and shall be applied for such purposes; also that the fiscal officer of the Fire District may be required to set apart and apply such revenues as aforesaid at the suit of any holder of the Bonds. The deposit of the Bonds with DTC under a book-entry system requires the assignment of CUSIP numbers prior to delivery. It shall be the responsibility of the successful bidder to obtain CUSIP numbers for the Bonds prior to delivery and the Fire District will not be responsible for any delay occasioned by the inability to deposit the Bonds with DTC due to the failure of the successful bidder to obtain such numbers and supply them to the Fire District in a timely manner. All expenses in relation to the printing of CUSIP numbers on the Bonds shall be paid for by the Fire District; provided, however, that the CUSIP Service Bureau charge for the assignment of the numbers shall be the responsibility of and shall be paid for by the purchaser.
If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of a bidder, the purchase of any such insurance policy or the issuance of any such commitment therefor shall be at the sole option and expense of such bidder and any increased costs of insurance of the bids resulting by reason of the same, unless otherwise paid, shall be paid by such bidder. Any failure of the Bonds to be so insured or of any such policy of insurance to be issued, shall not constitute cause for a failure or refusal by the purchaser of the Bonds to accept delivery of and pay for said Bonds in accordance with the terms of its proposal.
In the event that prior to the delivery of the Bonds, the income received by private holders from bonds of the same type and character shall be includable in gross income for Federal income tax purposes, the successful bidder may at its election, be relieved of its obligations under the contract to purchase the Bonds, and in such case, the Deposit accompanying his bid will be returned.
By submitting a bid, each bidder is certifying that its bid is a firm offer to purchase the Bonds, is a good faith offer which the bidder believes reflects current market conditions, and is not a “courtesy bid” being submitted for the purpose of assisting in meeting the competitive sale requirements relating to the establishment of the “issue price” of the Bonds pursuant to U.S. Treasury Regulation Section 1.148-1(f)(3)(i), including the requirement that bids be received from at least three (3) underwriters (as defined below) who have established industry reputations for underwriting new issuances of municipal bonds (the “Competitive Sale Requirements”). The Financial Advisor will advise the winning bidder if the Competitive Sale Requirements were met at the same time it notifies the winning bidder of the award of the Bonds. Bids will not be subject to cancellation in the event that the Competitive Sale Requirements are not satisfied.
The winning bidder shall, within one (1) hour after being notified of the award of the Bonds, advise the Financial Advisor by electronic or facsimile transmission of the reasonably expected initial public offering price or yield of each maturity of the Bonds (the “Initial Reoffering Prices”) as of the date of the award.
By submitting a bid, the winning bidder agrees (unless the winning bidder is purchasing the Bonds for its own account and not with a view to distribution or resale to the public (as defined below)) that (i) represents that it has an established industry reputation for underwriting new issuances of municipal bonds, and (ii) agrees that if the Competitive Sale Requirements are not met, it will, with respect to each
maturity of the Bonds, elect and satisfy either option (1) or option (2) described below. Such election must be made on the bid form submitted by each bidder. In the event a bidder submits a bid via Parity, such bidder must notify the Financial Advisor by email (firstname.lastname@example.org) as to such election at the time such bid is submitted. (1) Hold the Price. The winning bidder:
(a) will make a bona fide offering to the public of all of the Bonds at the Initial Reoffering Prices and provide the Financial Advisor and Bond Counsel with reasonable supporting documentation, such as a copy of the pricing wire or equivalent communication, the form of which is acceptable to Bond Counsel,
(b) will neither offer nor sell any Bonds within a maturity to any person at a price that is higher, or a yield that is lower, than the Initial Reoffering Price of such maturity until the earlier of (i) the date on which the winning bidder has sold to the public at least ten percent (10%) of the Bonds of such maturity at a price that is no higher, or a yield that is no lower, than the Initial Reoffering Price of such maturity or (ii) the close of business on the fifth (5th) business day after the date of the award of the Bonds, and
(c) has or will include or cause to be included within any agreement among underwriters, any selling group agreement and each retail distribution agreement (to which either the winning bidder or another member of any underwriting syndicate established by the winning bidder for the Bonds is a party) relating to the initial sale of the Bonds to the public, and in the related pricing wire, language obligating each underwriter to comply with the limitations on the sale of the Bonds as set forth above.
(2) Follow the Price. The winning bidder:
(a) will make a bona fide offering to the public of the Bonds at the Initial Reoffering Prices and provide the Financial Advisor and Bond Counsel with reasonable supporting documentation, such as a copy of the pricing wire or equivalent communication, the form of which is acceptable to Bond Counsel,
(b) will report to the Financial Advisor and Bond Counsel information regarding the actual prices at which at least ten percent (10%) of the Bonds within each maturity of the Bonds have been sold to the public,
(c) will provide the Financial Advisor and Bond Counsel with reasonable supporting documentation or certifications of such sale prices the form of which is acceptable to Bond Counsel. This reporting requirement, which may extend beyond the closing date of the Bonds, will continue until such date that ten percent (10%) of each maturity of the Bonds has been sold to the public, and
(d) has or will include or cause to be included within any agreement among underwriters, any selling group agreement and each retail distribution agreement (to which either the winning bidder or another member of any underwriting syndicate established by the winning bidder for the Bonds is a party) relating to the initial sale of the Bonds to the public and in the related pricing wires, language obligating each underwriter to comply with the reporting requirement described above.
For purposes of the “hold the price” and “follow the price” requirements, a “maturity” refers to the Bonds that have the same interest rate, credit and payment terms.
Regardless of whether or not the Competitive Sale Requirements were met, the winning bidder shall submit to the Issuer a certificate (the “Reoffering Price Certificate”), satisfactory to Bond Counsel, prior to the delivery of the Bonds stating the applicable facts as described above. The form of Reoffering Price Certificate is available by contacting Bond Counsel or the Financial Advisor.
If the winning bidder has purchased the Bonds for its own account and not with a view to distribution or resale to the public, then, whether or not the Competitive Sale Requirements were met, the Reoffering Price Certificate will recite such facts and identify the price or prices at which the purchase of the Bonds was made.
For purposes of this Notice of Sale, the following terms shall have the following respective meanings: (A) the “public” means any person other than an underwriter or a related party (as defined below) to an underwriter;
(B) an “underwriter” means (i) the winning bidder (unless the winning bidder is purchasing the Bonds for its own account and not with a view to distribution or resale to the public), (ii) any person that agrees pursuant to a written contract with the winning bidder to form an underwriting syndicate to participate in the initial sale of the Bonds to the public, and (iii) any person that agrees pursuant to a written agreement with either the winning bidder or any other member of an underwriting syndicate for the Bonds to participate in the initial sale of the Bonds to the public (such as a retail distribution agreement between a national lead underwriter and a regional firm under which the regional firm participates in the initial sale of the Bonds to the public); and
(C) a “related party” (as defined in U.S. Treasury Regulation 1.150-1(b)) to an underwriter generally means any person who has greater than fifty percent (50%) common ownership, directly or indirectly, with such underwriter.
In making the representations described above, the winning bidder must reflect the effect on the offering prices of any “derivative products” (e.g., a tender option) used by the bidder in connection with the initial sale of any of the Bonds.
The Debt Statement to be filed pursuant to Section 109.00 of the Local Finance Law in connection with the sale of the Bonds, prepared as of August 31, 2017 will show the full valuation of the real estate subject to taxation by the Fire District to be $1,853,664,664, its debt limit to be $55,609,940, and its total net indebtedness subject to the debt limit to be $5,030,000. The indebtedness to be evidenced by the Bonds will not increase the Fire District’s net indebtedness subject to the debt limit. A detailed Final Official Statement will be furnished to any interested bidder upon request.
The Fire District’s contact information is as follows: Richard C. Frisicano, Fire District Treasurer, Ridge Road Fire District, 1290 Long Pond Road, Rochester, New York 14626 (tel: (585) 453-1214); or, from the Fire District’s financial advisor, Municipal Solutions, Inc. (tel: (585) 394-4090).
DATED: September 13, 2017 Rochester, New York