(1) S&P has assigned a credit rating of A+ (Stable Outlook) to the Bonds.

(2) In accordance with the "Municipal Bond Insurance and Credit Rating"section of the Invitation to Bid for the Bonds, bidders have the option to bid for the Bonds without insurance, or with insurance from one of the following insurers at the respective premiums:

  
     Insurer   Premium
     -------   -------
     AGM       $34,000
     BAM       $30,200
     MAC       $34,000
     

The cost of insurance and rating will be paid by the School District.

^*Preliminary, subject to change