1) Moody's has assigned a credit rating of A1 to the Bonds.

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

 
     Insurer     Series AA    Series AAA     Total 
     -------     ---------    ----------     ------
     AGC         $48,500        $41,400      $89,900
     AGM         $48,500        $41,400      $89,900

Both the Moody's rating fee and the insurance premium, if chosen, will be paid by the School District.

If insurance for all maturities is chosen as part of the bid, the premium will be factored into the calculation of TIC.

If the bidder wishes not to insure the Bonds, "NONE" should be selected in the Insurance drop-down box. If the bidder wishes to insure a portion of the Bonds, the bidder should also select "NONE" in the insurance drop-down box and notify the Financial Advisor of such partial insurance for compliance and disclosure purposes.

If partial insurance is used, such insurance premium must be included in the purchase price, but will be paid by the School District and will be factored into the calculation of TIC.

^*Preliminary, subject to change