PRELIMINARY OFFICIAL STATEMENT DATED ___________, 2014
This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold, nor may offers to buy them be accepted, prior to
the time the Official Statement is delivered in final form. Under no circumstances shall t
his Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
NEW ISSUE—FULL BOOK-ENTRY RATINGS: Moody’s: “___”; S&P: “__”
See “MISCELLANEOUS – Ratings.”
In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, San Francisco, California (“Bond
Counsel”), under existing statutes, regulations, rulings and judicial decisions, and assuming the accuracy of certain
representations and compliance with certain covenants and requirements described herein, interest (and original issue
discount) on the Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for
purposes of calculating the federal alternative minimum tax imposed on individuals and corporations. In the further opinion
of Bond Counsel, interest (and original issue discount) on the Bonds is exempt from State of California personal income tax.
See “TAX MATTERS” herein with respect to tax consequences relating to the Bonds.
CERRITOS COMMUNITY COLLEGE DISTRICT
(Los Angeles County, California)
Election of 2012 General Obligation Bonds, Series 2014A
Dated: Date of Delivery Due: August 1, as shown on inside cover page
This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must
read the entire Official Statement to obtain information essential to the making of an informed investment decision.
Capitalized terms used on this cover page not otherwise defined shall have the meanings set forth herein.
The Cerritos Community College District (Los Angeles County, California) Election of 2012 General Obligation Bonds,
Series 2014A (the “Bonds”) were authorized at an election of the registered voters of the Cerritos Community College District
(the “District”) held on November 6, 2012 at which the requisite 55% or more of the persons voting on the proposition voted to
authorize the issuance and sale of $350,000,000 principal amount of general obligation bonds of the District. The Bonds are
being issued to finance the acquisition, construction, modernization and equipping of District sites and facilities, and to pay the
costs of issuance associated with the Bonds.
The Bonds are general obligations of the District, payable solely from the proceeds of ad valorem property taxes. The
Board of Supervisors of Los Angeles County is empowered and obligated to levy such ad valorem taxes, without limitation as
to rate or amount, upon all property within the District subject to taxation thereby (except certain personal property which is
taxable at limited rates), for the payment of principal of and interest on the Bonds when due.
The Bonds will be issued in book-entry form only, and will be initially issued and registered in the name of Cede & Co. as
nominee of The Depository Trust Company, New York, New York (collectively, “DTC”). Purchasers of the Bonds (the
“Beneficial Owners”) will not receive physical certificates representing their interest in the Bonds. The Bonds are issuable as
fully registered bonds in denominations of $5,000 or any integral multiple thereof.
The Bonds will be issued as current interest bonds such that interest thereon will accrue from the Date of Delivery of the
Bonds, and be payable semiannually on February 1 and August 1 of each year, commencing February 1, 2015 (each, a “Bond
Payment Date”). Payments of principal of and interest on the Bonds will be made by the designated paying agent, bond
registrar, authentication agent and transfer agent (collectively, the “Paying Agent”), to DTC for subsequent disbursement to
DTC Participants (defined herein) who will remit such payments to the Beneficial Owners of the Bonds. See “APPENDIX E –
BOOK-ENTRY ONLY SYSTEM.” U.S. Bank National Association, Los Angeles, California, has been appointed as agent of
the Treasurer and Tax Collector of Los Angeles County to act as Paying Agent for the Bonds
The Bonds are subject to optional redemption and mandatory sinking fund redemption prior to their stated
maturity dates as further described herein.
*
MATURITY SCHEDULE*
(see inside front cover)
The Bonds will be offered when, as and if issued and received by the Underwriters, subject to the approval of legality by
Stradling Yocca Carlson & Rauth, a Professional Corporation, San Francisco, California, Bond Counsel and Disclosure
Counsel. Certain matters will be passed upon for the Underwriters by ___________________. The Bonds, in book-entry
form, will be available for delivery through the facilities of DTC in New York, New York on or about ________, 2014.
Dated: _______________, 2014
________________________
*
Preliminary, subject to change.
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