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OFFICIAL STATEMENT $6,240,000* CERTIFICATES OF PARTICIPATION (City of University City, Missouri, Lessee), Series 2003 Evidencing Undivided, Proportionate Interests of the Owners Thereof in Base Rentals Payable, Subject to Annual Appropriation, by the CITY OF UNIVERSITY CITY, MISSOURI Pursuant to a Lease/Purchase Agreement INTRODUCTION This itttroduction is only a brief description attd summary of certaitt information contained itt this Official Statement attd is qualified itt its entirety by reference to the more complete and detailed information contained in the entire Official Statement, includittg the cover page attd appendices hereto, and the documents summarized or described hereitt. A full review should be made of the entire Official Statetnent. Purpose of the Official Statement The purpose of this Official Statement is to fumish information in connection with the offering and sale of Certificates of Participation (City of University City, Missouri, Lessee), Series 2003, in the aggregate principal amount of $6,240,000* (the "Certificates"). The Certificates represent undivided, proportionate interests in Base Rentals to be paid by the City of University City, Missouri (the "City") pursuant to an annually renewable Lease/Purchase Agreement dated as of November 1, 2003 (the "Lease"), between BNY Trust Company of Missouri (the "Trustee"), as lessor, and the City, as lessee. The Trustee has agreed to execute and deliver the Certificates pursuant to a Trust Indenture dated as of November 1, 2003 (the "Indenture"). The Base Rentals constitute rent for the Leased Property (hereafter defined) pursuant to the Lease. The City The City is a home rule city organized and existing under the laws of the State of Missouri. See the captions "GENERAL INFORMATION CONCERNING THE CITY," "FINANCIAL INFORMATION CONCERNING THE CITY," "DEBT STRUCTURE OF THE CITY," "PROPERTY TAX INFORMATION" and Appendix A - "GENERAL AND ECONOMIC INFORMATION REGARDING THE CITY." Plan of Financing Proceeds from the sale of the Certificates will be used to (1) provide funds to pay the costs of refunding the Certificates of Participation (City of University City, Missouri, Parking Facility Project) Series 1997 (the "Series 1997 Certificates"), which financed a municipal parking garage in the City's downtown business district (the "Parking Garage"); (2) construct, renovate and improve recreational facilities in the City's Heman Park, including improvements to the existing swinm~ing pool and fitness center and related security and safety improvements (the "Park Improvements"); (3) fund a debt service reserve fund for the Certificates; and (4) pay the costs of delivering the Certificates: The real estate upon which the Parking Garage and the Park Improvements are located, including all improvements now or hereafter situated thereon, constitute the Leased Property. *Preliminary; subject to change.