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<br />Absence of Litigation <br /> <br />There is no action, suit, or proceeding knovm to be pending or threatened, restraining or <br />enjoining the execution or delivery of the Bonds or the indenture, or in any way contest- <br />ing or affecting the validity of the foregoing or any proceedings of the City taken with <br />respect to any of the foregoing. <br /> <br />Rating <br /> <br />Moody's Investor's Service has assigned its municipal bond rating of _ to the Bonds. <br />Such rating reflects only the view of such organization and any desired explanation of the <br />significance of such rating should be obtained from the rating agency furnishing the same, <br />at Moody's Investor's Service . Generally. a rating agency bases <br />its ratings on the information and materials furnished to it and on investigations, studies <br />and assumptions of its own, There is no assurance that such ratings will continue for any <br />given period of time or that such ratings will not be revised dovmward or withdrawn <br />entirely by the rating agencies, if in the judgment of such rating agencies. circumstances <br />so warrant. Any downward revision or withdrawal of such ratings may have an adverse <br />effect on the market price of the Bonds. <br /> <br />Miscellaneous <br /> <br />The quotations from, and summaries and explanations of the indenture. and other statutes <br />and documents contained herein do not purport to be complete, and reference is made to <br />such documents and statutes for full and complete statements of their provisions. Complete <br />copies of the documents are available upon request from the financial advisor prior to the closing <br />and from the City thereafter. <br /> <br />This official statement is submitted only in connection with the sale of the Bonds by the <br />City. All estimates, assumptions, statistical information, and other statements contained <br />herein, while taken from sources considered reliable, are not guaranteed by the City. The <br />information contained herein should not be construed as representing all conditions affecting <br />the City or the Bonds. All information contained in this official statement pertaining to the <br />City has been furnished bv the Citv. and the execution and deliverv of this official statement <br />. "' ,,- .- <br />have been duly authorized by the City. <br /> <br />City of Pleasant on <br />Isl <br /> <br />22 <br />