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OFFICIAL STATEMENT $5,900,000* CERTIFICATES OF PARTICIPATION (City of University City, Missouri, Lessee), Series 2004 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 introduction is only a brief description and summary' of certain information contained in this Official Statement and is qualified in its entirety' by' reference to the more complete and detailed information contained in the entire Official Statement, inchtding the cover page and appendices hereto, and the documents summarized or described herein. A fidl review should be made of the entire Official Statement. Purpose of the Official Statement The purpose of this Official Statement is to furnish information in connection with the offering and sale of Certificates of Participation (City of University City, Missouri, Lessee), Series 2004, in the aggregate principal amount of $5,900,000* (the "Series 2004 Certificates"). The Series 2004 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 "Original Lease"), as amended and supplemented by a First Supplemental Lease/Purchase Agreement dated as of July 1, 2004 (the "First Supplemental Lease" and together with the Original Lease, the "Lease"), bet~veen BNY Trust Company of Missouri (the "Trustee"), as lessor, and the City, as lessee. The Trustee has agreed to execute and deliver the Series 2004 Certificates pursuant to a Trust Indenture dated as of November 1, 2003 (the "Original Indenture"), as amended and supplemented by a First Supplemental Trust Indenture dated as of July 1, 2004 (the "First Supplemental Indenture" and together with the Original Indenture, the "Indenture"). The Base Rentals constitute rent for the Leased Property (hereafter defined) pursuant to the Lease. The CiD' 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 Append£r A - "GENERAL AND ECONOMIC INFORMATION REGARDING THE CITY." Plan of Financing Proceeds from the sale of the Series 2004 Certificates will be used to (1) renovate, improve, furnish and equip the City's police station, fire stations and City Hall and provide additional funds to complete the construction, renovation and improvement of recreational facilities in the City's Heman Park (the "2004 Project"); (2) fund a debt service reserve fund for the Series 2004 Certificates; and (3) pay the costs of delivering the Series 2004 Certificates. * Preliminary.; subject to change.