Table of Contents
Page OFFICIAL NOTICE OF SALE................................................................................................................................ vii THE SERIES 2018 BONDS ....................................................................................................................................1 General Description.............................................................................................................................................1 Authorization of the Series 2018 Bonds ...............................................................................................................1 Form of Bonds.....................................................................................................................................................2 Registrar .............................................................................................................................................................2 Procedure in the Event of Termination of Book-Entry Transfer System.................................................................2 Redemption Provisions........................................................................................................................................2 Defeasance .........................................................................................................................................................3 Open Market Purchase........................................................................................................................................3 USE OF PROCEEDS..............................................................................................................................................3 Sources and Uses of Funds.................................................................................................................................3 SECURITY AND SOURCES OF PAYMENT FOR THE SERIES 2018 BONDS .......................................................4 Pledge of Gross Revenue....................................................................................................................................4 Flow of Funds......................................................................................................................................................4 Rate Covenant ....................................................................................................................................................5 Additional Provisions of the Bond Resolution .......................................................................................................5 No Debt Service Reserve Account for the Series 2018 Bonds..............................................................................5 Renewal and Replacement Fund.........................................................................................................................5 Future Parity Bonds.............................................................................................................................................5 THE SYSTEM.........................................................................................................................................................6 Occupancy ..........................................................................................................................................................7 Room and Board Rates .......................................................................................................................................7 Historical Operations of the System.....................................................................................................................8 Historical Compliance with Rate Covenant of the System ....................................................................................8 Outstanding Parity Bonds ....................................................................................................................................9 Schedule of System Revenue Bond Debt Service..............................................................................................10 Debt Payment Record .......................................................................................................................................10 Future Financing ...............................................................................................................................................10 LEGAL INFORMATION ........................................................................................................................................11 Litigation............................................................................................................................................................11 Approval of Counsel ..........................................................................................................................................11 Limitations on Remedies ...................................................................................................................................11 TAX MATTERS.....................................................................................................................................................11 INITIATIVE AND REFERENDUM..........................................................................................................................13 CONTINUING DISCLOSURE UNDERTAKING .....................................................................................................13 OTHER BOND INFORMATION ............................................................................................................................14 Rating ...............................................................................................................................................................14 Financial Advisor ...............................................................................................................................................15 Underwriting ......................................................................................................................................................15 Official Statement ..............................................................................................................................................15 APPENDICES: Central Washington University .............................................................................................................APPENDIX A Audited Financial Statements of the University (Fiscal Year ended June 30, 2017)...............................APPENDIX B Form of Bond Counsel Opinion ............................................................................................................APPENDIX C Book-Entry Transfer System ................................................................................................................APPENDIX D Master and Series Resolutions.............................................................................................................APPENDIX E
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