PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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There are certain risks associated with the purchase of the Series 2001 Bonds. (See "BONDHOLDERS' RISKS" for a discussion of some of these risks.) Miscellaneous This Official Statement(including the Appendices hereto)contains descriptions of, among other matters, the Indenture, the Loan Agreement, the Mortgage, the Subordinate Mortgage,the Ground Lease,the City,the Project Facilities,the Borrower,the Sponsor and the Series 2001 Bonds. Such descriptions and information do not purport to be comprehensive or definitive. All references to documents described herein are qualified in their entirety by reference to such documents, copies of which are available for inspection at the principal corporate trust office of the Trustee in Saint Paul, Minnesota. BONDHOLDERS' RISKS General The Series 2001 Bonds and the interest thereon are special, limited revenue obligations of the City and do not constitute an indebtedness, a pecuniary liability, a moral or general obligation or a loan of the credit of the City or a charge, lien or encumbrance,legal or equitable, against the City's property, general credit or taxing powers. No owner of the Series 2001 Bonds may compel the exercise of the taxing power of the City to pay the principal of,premium,if any,or interest on the Series 2001 Bonds. The Series 2001 Bonds are not a debt of the City within the meaning of any constitutional or statutory provision. The Series 2001 Bonds are payable solely, as to funds or assets of the City, from Loan Repayments to be made by the Borrower under the Loan Agreement (except to the extent the Senior Bonds are payable from amounts available therefor in the Debt Service Reserve Fund, other funds held under the Indenture and, under certain circumstances, proceeds derived from the sale or other disposition of the Mortgaged Property upon the exercise of certain remedies under the Mortgage and/or the Subordinate Mortgage). The City is obligated to make payments on the Series 2001 Bonds only to the extent it receives Loan Repayments from the Borrower as required under the Loan Agreement. No person should purchase any Series 2001 Bonds without carefully reviewing the following information, which summarizes some, but not all, of the factors that should be carefully considered before such purchase. Source of Repayment upon Mandatory Tender Date No source of funds is presently available for the payment of the purchase price of the Series 2001 Tax-Exempt Bonds upon the Mandatory Tender Date. The ability of the Borrower to pay the purchase price of the Bonds upon the Mandatory Tender thereof depends