PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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fiscal year, commencing with the report for the Fiscal Year ending December 31, 2002(the "Annual Report"), and to provide notices of the concurrence of certain other enumerated events such as a default under the Indenture or Loan Agreement,an unscheduled draw on the debt service reserve funds, a change in the ratings on the Series 2001 Bonds, any event adversely affecting the tax-exempt status of the Series 2001 Bonds or adversely affecting the Bondholders,or any event similar thereto. The Annual Report is to be filed by the Borrower with each Nationally Recognized Municipal Securities Information Repository certified by the Securities and Exchange Commission(the"Repositories")and a State repository,if any, and the Trustee. The notices of material events will be timely filed by the Trustee on behalf of the Borrower, with the Municipal Securities Rulemaking Board, or the Repositories and a State repository, if any. The disclosure provided for in the Continuing Disclosure Agreement is in addition to, and does not replace, notices required to be given to Bondholders under the Indenture. The Trustee has no obligation to verify or investigate any information disclosed pursuant to the Continuing Disclosure Agreement, or to make disclosure about the Series 2001 Bonds, the Borrower, the Project, the Sponsor or any other matter except as expressly provided in the Continuing Disclosure Agreement. MISCELLANEOUS The foregoing summaries do not purport to be comprehensive or definitive and all references to the documents summarized are qualified in their entirety by reference to each such document. All references to the Series 2001 Bonds are qualified in their entirety by reference to the forms thereof and the information with respect thereto included in the aforesaid documents. Copies of these documents are available for inspection during the period of the offering at the offices of the Underwriter in Minneapolis, Minnesota, and thereafter at the principal corporate trust office of the Trustee. The City has consented to the distribution of this Official Statement, but has not participated in the preparation of this Official Statement and has not reviewed or approved any information or statements contained in this Official Statement or the Appendices hereto and assumes no responsibilities for the sufficiency, completeness or accuracy of the same. The delivery of this Official Statement has been duly authorized by the Borrower and the Sponsor. APPENDIX A DEFINITIONS OF CERTAIN TERMS AND SUMMARIES OF PRINCIPAL DOCUMENTS DEFINITIONS OF CERTAIN TERMS In addition to the words and terms defined elsewhere in this Oficial Statement, the