This Preliminary Official Statement and the information contained herein are subject to completion and amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final form. Under no circumstances may this Preliminary Official Statement constitute an offer to sell or a solicitation of an offer to buy, nor may there be any sale of these securities in any jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

PRELIMINARY OFFICIAL STATEMENT DATED OCTOBER 11, 2010 NEW ISSUE; BOOK ENTRY ONLY BANK QUALIFIED

RATING: Standard & Poor’s: “AA” See “RATING” herein

In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law and assuming continued compliance with certain requirements of the Internal Revenue Code of 1986, as amended, the interest on the Bonds is excludable from gross income for federal and Missouri income tax purposes, except as described in this Official Statement, and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations. The Bonds are “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. See “TAX MATTERS” in this Official Statement. $1,580,000* JEFFERSON COUNTY, MISSOURI GENERAL OBLIGATION NEIGHBORHOOD IMPROVEMENT BONDS (BRETHOLD ESTATES, CLARANED HEIGHTS, FENTON FOREST, PRIMROSE LANE AND SAN MARINO SEWER PROJECT) SERIES 2010C Dated: Date of Delivery

Due: March 1, as shown on the inside cover page

The Bonds will be issued as fully-registered bonds in the denomination of $5,000 or any integral multiple thereof and will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York. Individual purchases of interests in the Bonds will be made in book-entry form only. See the caption “THE BONDS – Book-Entry Only System.” Principal on the Bonds will be payable annually on March 1, commencing on March 1, 2012. Interest on the Bonds is payable semiannually on each March 1 and September 1, commencing March 1, 2011, by check or draft mailed (or by wire transfer in certain circumstances as described herein) to the persons who are the registered owners of the Bonds as of the close of business on the 15th day of the month preceding the applicable interest payment date. The Bonds will be subject to redemption prior to maturity as described herein. THE BONDS CONSTITUTE GENERAL OBLIGATION BONDS OF THE COUNTY PAYABLE AS TO BOTH PRINCIPAL AND INTEREST FROM SPECIAL ASSESSMENTS THAT ARE LEVIED AND ASSESSED UPON REAL PROPERTY BENEFITTED BY THE PROJECT, FROM MONEYS IN THE DEBT SERVICE RESERVE FUND (AS DEFINED HEREIN) AND, IF NOT SO PAID, FROM CURRENT INCOME AND REVENUE AND SURPLUS FUNDS OF THE COUNTY. THE FULL FAITH AND CREDIT OF THE COUNTY ARE HEREBY IRREVOCABLY PLEDGED FOR THE PROMPT PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS AS THE SAME BECOME DUE; PROVIDED, HOWEVER, THE COUNTY MAY NOT IMPOSE ANY NEW OR INCREASED AD VALOREM PROPERTY TAXES TO PAY PRINCIPAL OF OR INTEREST ON THE BONDS WITHOUT THE VOTER APPROVAL REQUIRED BY THE CONSTITUTION AND LAWS OF THE STATE OF MISSOURI. See the caption “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS” herein. The Bonds are subject to certain risks. CONSIDERATIONS” HEREIN.

SEE THE CAPTION “RISK FACTORS AND INVESTMENT

The Bonds are offered when, as and if issued by the County and accepted by the Underwriter, subject to approval of their validity by Gilmore & Bell, P.C., St. Louis, Missouri, Bond Counsel, and subject to certain other conditions. Bond Counsel will also pass on certain matters relating to this Official Statement. It is expected that the Bonds will be available for delivery at The Depository Trust Company, in New York, New York, on or about October 29, 2010.

The date of this Official Statement is October ___, 2010. *

Preliminary; subject to change.

$1,580,000* JEFFERSON COUNTY, MISSOURI GENERAL OBLIGATION NEIGHBORHOOD IMPROVEMENT BONDS (BRETHOLD ESTATES, CLARANED HEIGHTS, FENTON FOREST, PRIMROSE LANE AND SAN MARINO SEWER PROJECT) SERIES 2010C MATURITY SCHEDULE* Due (March 1)

Principal Amount

2012 2013 2014 2015 2016 2017 2018 2019 2020

$70,000 60,000 60,000 60,000 65,000 65,000 65,000 70,000 70,000

Interest Rate

Price

CUSIP

$390,000 _________% Term Bonds due March 1, 2025, Price _______%, CUSIP __________ $605,000 _________% Term Bonds due March 1, 2030, Price _______%, CUSIP __________

*

Preliminary; subject to change.

JEFFERSON COUNTY, MISSOURI 729 Maple Street Hillsboro, Missouri 63050 Elected Officials Chuck Banks, County Executive Edward L. Kemp, County Executive Patrick J. Lamping, County Executive Administrative Officials Stephen Stoll, Director of Administration Dennis Kehm, Jr., County Counselor Wes Wagner, County Clerk Dorothy Stafford, Auditor

BOND COUNSEL Gilmore & Bell, P.C. St. Louis, Missouri

UNDERWRITER Piper Jaffray & Co. St. Louis, Missouri

PAYING AGENT UMB Bank, N.A. St. Louis, Missouri

____________________________

REGARDING USE OF THIS OFFICIAL STATEMENT ____________________________ THE BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, IN RELIANCE UPON THE EXEMPTION CONTAINED IN SECTION 3(a)(2) OF SUCH ACT. The information set forth herein has been obtained from the County and other sources which are deemed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not to be construed as a representation by, the County. The Underwriter has provided the following sentence for inclusion in this Official Statement. The Underwriter has reviewed the information in this Official Statement in accordance with, and as part of, their responsibilities to investors under the federal securities laws as applied to the facts and circumstances of this transaction, but the Underwriter does not guarantee the accuracy or completeness of such information. No dealer, broker, salesperson or any other person has been authorized by the County to give any information or make any representations, other than those contained in this Official Statement, in connection with the offering of the Bonds, and if given or made, such other information or representations must not be relied upon as having been authorized by the foregoing. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Bonds by any person in any state in which it is unlawful for such person to make such offer, solicitation or sale. The information herein is subject to change without notice, and neither the delivery of this Official Statement nor the sale of any of the Bonds hereunder shall under any circumstances create any implication that there has been no change in the affairs of the County or the other matters described herein since the date hereof. IN CONNECTION WITH THE OFFERING OF THE BONDS, THE UNDERWRITER MAY OVER-ALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF SUCH BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME.

____________________________

TABLE OF CONTENTS

Page INTRODUCTION ................................................. 1 Purpose of the Official Statement ..................... 1 The County........................................................ 1 Authorization of the Bonds ............................... 1 Purpose of the Bonds ........................................ 1 Security and Sources of Payment...................... 2 Continuing Disclosure ....................................... 2 Financial Statements ......................................... 2 Review of Documents....................................... 2 PLAN OF FINANCING ........................................ 3 The Project ........................................................ 3 Sources and Uses of Funds ............................... 3 THE BONDS .......................................................... 3 Description of the Bonds................................... 3 Redemption Provisions ..................................... 4 Book–Entry Only System ................................. 6 SECURITY AND SOURCES OF PAYMENT FOR THE BONDS .......................................... 8 General Obligations .......................................... 8 Pledge of Full Faith and Credit ......................... 8 Levy and Collection of Annual Assessments.... 8 Debt Service Reserve Fund............................... 8 RISK FACTORS AND INVESTMENT CONSIDERATIONS ...................................... 9 Bonds Not Secured by Taxing Power ............... 9 GENERAL INFORMATION CONCERNING THE COUNTY................................................ 9 General Information.......................................... 9 Government and Organization ........................ 10 Employees and Employee Relations............... 11 Population ....................................................... 11 Risk Management ........................................... 12 Public Safety ................................................... 12 Transportation ................................................. 12 Recreation ....................................................... 13 Healthcare ....................................................... 13

Communications and Media............................14 Housing ...........................................................15 Building and Construction Data ......................16 FINANCIAL INFORMATION CONCERNING THE COUNTY ..............................................16 Accounting, Budgeting and Auditing Procedures ................................................16 The General Fund ............................................17 Sources of Revenue .........................................19 DEBT STRUCTURE OF THE COUNTY .........19 General Obligation Indebtedness; Debt Limitation .................................................19 Overlapping General Obligation Indebtedness .............................................21 Revenue Bonds................................................21 Lease Obligations ............................................21 Future Debt Plans ............................................22 History of Debt Payment .................................22 PROPERTY TAX INFORMATION ..................22 Property Valuations .........................................22 Tax Collection Record.....................................24 Major Property Taxpayers ...............................25 RATING................................................................25 FINANCIAL STATEMENTS .............................26 UNDERWRITING ...............................................26 ABSENCE OF LITIGATION .............................26 APPROVAL OF LEGALITY .............................26 TAX MATTERS...................................................26 Opinion of Bond Counsel ................................26 Other Tax Consequences .................................27 CONTINUING DISCLOSURE...........................27 MISCELLANEOUS.............................................28 APPENDIX A - Audited Financial Statements of the County for the Fiscal Year Ended December 31, 2009

___________________________ THIS PAGE INTENTIONALLY LEFT BLANK ___________________________

OFFICIAL STATEMENT $1,580,000* JEFFERSON COUNTY, MISSOURI GENERAL OBLIGATION NEIGHBORHOOD IMPROVEMENT BONDS (BRETHOLD ESTATES, CLARANED HEIGHTS, FENTON FOREST, PRIMROSE LANE AND SAN MARINO SEWER PROJECT) SERIES 2010C 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 more complete and detailed information contained in the entire Official Statement, including the cover page and appendices hereto, and the documents summarized or described herein. A full review should be made of the entire Official Statement. Purpose of the Official Statement The purpose of this Official Statement is to furnish information relating to (1) Jefferson County, Missouri (the “County”) and (2) the County’s General Obligation Neighborhood Improvement Bonds (Brethold Estates, Claraned Heights, Fenton Forest, Primrose Lane and San Marino Sewer Project), Series 2010C (the “Bonds”), to be issued in the aggregate principal amount of $1,580,000*. The County The County is a charter county comprising approximately 668 square miles. The County is located approximately 17 miles southwest of the City of St. Louis, Missouri and is part of the St. Louis metropolitan area. Of the 114 counties in Missouri, the County is one of only six to achieve first-class status (based upon assessed valuation) and is the fifth largest county in Missouri. The County’s 2009 population was estimated at 219,046. Authorization of the Bonds The Bonds are being issued pursuant to and in full compliance with the Constitution and statutes of the State of Missouri, including particularly Article III, Section 38(c) of the Missouri Constitution and Sections 67.453 to 67.475, of the Revised Statutes of Missouri, as amended, popularly known as the Neighborhood Improvement District Act (collectively, the “Act”). The issuance and sale of the Bonds will be authorized by an ordinance adopted by the County Council (together with the Bond Agreement attached as an exhibit thereto and fully incorporated therein by reference, the “Bond Ordinance”). Capitalized words and terms not defined in this Official Statement shall have the meanings as defined in the Bond Ordinance. Purpose of the Bonds The Bonds are being issued for the purposes of paying the cost of (1) refunding the County’s outstanding Municipal Temporary Notes (BCFPO Neighborhood Improvement District Project), Series 2008, which were issued in the original principal amount of not to exceed $1,900,000 (the “Prior Notes”) to finance the costs of the Brethold Estates, Claraned Heights, Fenton Forest, Primrose Lane and San Marino Sewer Project (the “Project”) for the Brethold Estates, Claraned Heights, Fenton Forest, Primrose Lane and San Marino Neighborhood Improvement District (the “District”), (2) funding a debt service reserve fund for the *

Preliminary; subject to change.

Bonds, (3) funding capitalized interest for the Bonds and (4) issuing the Bonds. See the section herein captioned “PLAN OF FINANCING.” Security and Sources of Payment The Bonds constitute general obligation bonds of the County payable as to both principal and interest from special assessments that are levied and assessed upon real property benefitted by the Project, from moneys in the Debt Service Reserve Fund (as defined herein) and, if not so paid, from current income and revenue and surplus funds of the County. The full faith and credit of the County are hereby irrevocably pledged for the prompt payment of the principal of and interest on the Bonds as the same become due; provided, however, the County may not impose any new or increased ad valorem property taxes to pay principal of or interest on the Bonds without the voter approval required by the Constitution and laws of the State of Missouri. See the section herein captioned “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS.” A debt service reserve fund (the “Debt Service Reserve Fund”) in the amount of $146,241.34* will be funded from the proceeds of the Bonds. See the caption “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS” herein. Continuing Disclosure The County will covenant in a Continuing Disclosure Agreement to provide certain financial information and notices of material events to the Municipal Securities Rulemaking Board, through the Electronic Municipal Market Access system for municipal securities disclosures (“EMMA”), in compliance with Rule 15c2-12 promulgated by the Securities and Exchange Commission (the “Rule”). See the section herein captioned “CONTINUING DISCLOSURE.” The County is currently in compliance with its continuing disclosure undertaking pursuant to the Rule. Financial Statements The audited financial statements of the County for the fiscal year ended December 31, 2009 are included in Appendix A to this Official Statement. These financial statements have been audited by Schowalter & Jabouri, P.C., an independent certified public accountant, to the extent and for the periods indicated in the report which is also included in Appendix A hereto. Review of Documents All references herein to the Bond Ordinance and the Continuing Disclosure Agreement are qualified in their entirety by reference to the Bond Ordinance and the Continuing Disclosure Agreement. Copies of the Bond Ordinance, the Continuing Disclosure Agreement and this Official Statement may be viewed at the office of the Underwriter, Piper Jaffray & Co., 8235 Forsyth Boulevard, Suite 600, St. Louis, Missouri 63105 or will be provided to any prospective purchaser requesting the same, upon payment by such prospective purchaser of the cost of complying with such request.

*

Preliminary; subject to change.

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PLAN OF FINANCING The Project The Brethold Estates, Claraned Heights, Fenton Forest, Primrose Lane and San Marino Sewer Project consists of the construction of sanitary sewers within the Brethold Estates, Claraned Heights, Fenton Forest, Primrose Lane and San Marino Neighborhood Improvement District. The final project costs totaled $2,255,899.89 (excluding the costs of issuing the Bonds, debt service reserve fund and accrued interest). A portion of the Project costs were paid from a grant in the amount of $590,121.09 received from the U.S. Environmental Protection Agency. The properties included in the District (179 lots) have been assessed to pay for the final Project costs. The ordinance assessing such properties was passed by the County on September 7, 2010. Several property owners have prepaid their assessments. The unpaid cost of the improvements within the District (which equals the allocable portion of principal amount of the Bonds, plus the costs of issuing the Bonds and the funding of the Debt Service Reserve Fund), together with interest thereon as provided by law, shall be assessed equally against each remaining parcel of property or lot located in the District. The ordinance requires that the assessments be sufficient to pay the debt service on the Bonds. On November 5, 2008, the County issued its Municipal Temporary Notes (BCFPO Neighborhood Improvement District Project), Series 2008, in the original principal amount of not to exceed $1,900,000 (the “Prior Notes”), to finance the costs of the Project. A portion of the proceeds of the Bonds will be used to currently refund the Prior Notes on October 29, 2010. Sources and Uses of Funds The following table summarizes the estimated sources of funds, including the proceeds from the sale of the Bonds, and the expected uses of such funds, in connection with the plan of financing: Sources of Funds: Proceeds of the Bonds.......................................................... Previous Assessment Collections/Other County Funds...... Total......................................................................................

$ ______________ $______________

Uses of Funds: Redemption of the Prior Notes ............................................ Capitalized Interest .............................................................. Debt Service Reserve Fund ................................................. Costs of Issuance (including underwriting discount).......... Total......................................................................................

$

$______________ $______________

THE BONDS The following is a summary of certain terms and provisions of the Bonds. Reference is hereby made to the Bonds and the Bond Ordinance for the detailed terms and provisions thereof. Description of the Bonds The Bonds will be issued in the principal amount of $1,580,000*, will be dated as of the date of initial issuance and delivery thereof and will consist of fully-registered bonds in the denomination of $5,000 or any *

Preliminary; subject to change.

-3-

integral multiple thereof (“Authorized Denominations”). The Bonds will mature on March 1 in the years and in the principal amounts set forth on the inside cover page of this Official Statement. Interest on the Bonds will be payable semiannually on March 1 and September 1 in each year, beginning on March 1, 2011. Principal will be payable upon presentation and surrender of the Bonds by the Registered Owners thereof at the principal corporate trust office of the Paying Agent (as defined below) or at such other office as is designated by the Paying Agent. Interest will be paid to the Registered Owners of the Bonds as shown on the Bond Register at the close of business on the Record Date for such interest (a) by check or draft mailed by the Paying Agent to the addresses of the Registered Owners shown on the Bond Register or to such other address as is furnished to the Paying Agent in writing by any Registered Owner or (b) in the case of an interest payment to the Securities Depository or any Registered Owner of $500,000 or more in aggregate principal amount of Bonds, by electronic transfer, provided that any such Registered Owner has given written notice to the Paying Agent, not less than 15 days prior to the Record Date for such interest, containing the electronic transfer instructions including the bank (which shall be in the continental United States), ABA routing number and account number to which such Registered Owner wishes to have such transfer directed. UMB Bank, N.A., Kansas City, Missouri, is the Bond Registrar and the Paying Agent for the Bonds (the “Paying Agent”). Redemption Provisions Optional Redemption. At the option of the County, Bonds maturing on March 1, 20___ and thereafter, may be redeemed and paid prior to maturity on March 1, 20___ and thereafter in whole or in part at any time and in such amounts for each maturity as shall be determined by the County (Bonds of less than a full maturity to be selected in multiples of $5,000 principal amount in such equitable manner as the Paying Agent shall designate) at the Redemption Price of 100% of the principal amount thereof, plus accrued interest thereon to the Redemption Date. Mandatory Redemption. The Bonds maturing on March 1, 2025* and March 1, 2030* (collectively, the “Term Bonds”) are subject to mandatory redemption and payment prior to maturity pursuant to the mandatory redemption requirements set forth in the Bond Ordinance, as the principal amount thereof plus accrued interest to the redemption date without premium. The Term Bonds shall be on the dates and in the principal amounts as follows: Term Bonds Maturing March 1, 2025*

†

*

Redemption Date*

Principal Amount*

2021 2022 2023 2024 2025†

$75,000 75,000 75,000 80,000 85,000

Final maturity.

Preliminary; subject to change.

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Term Bonds Maturing March 1, 2030*

†

Redemption Date*

Principal Amount*

2026 2027 2028 2029 2030†

$85,000 90,000 90,000 95,000 245,000

Final maturity.

At its option, to be exercised on or before the 45th day next preceding any mandatory redemption date, the County may: (1) deliver to the Paying Agent for cancellation Term Bonds subject to mandatory redemption on said mandatory redemption date, in any aggregate principal amount desired; or (2) furnish the Paying Agent funds, together with appropriate instructions, for the purpose of purchasing any Term Bonds subject to mandatory redemption on said mandatory redemption date from any Registered Owner thereof whereupon the Paying Agent shall expend such funds for such purpose to such extent as may be practical; or (3) receive a credit with respect to the mandatory redemption obligation of the County for any Term Bonds subject to mandatory redemption on said mandatory redemption date which, prior to such date, have been redeemed (other than through the operation of the mandatory redemption requirements of this provision) and cancelled by the Paying Agent and not theretofore applied as a credit against any redemption obligation. Each Term Bond so delivered or previously purchased or redeemed shall be credited at 100% of the principal amount thereof on the obligation of the County to redeem Term Bonds of the same Stated Maturity on such mandatory redemption date, and any excess of such amount shall be credited on future mandatory redemption obligations for Term Bonds of the same Stated Maturity in chronological order, and the principal amount of Term Bonds of the same Stated Maturity to be redeemed by operation of the requirements of this provision shall be accordingly reduced. If the County intends to exercise any option granted by the provisions of clauses (1), (2) or (3) above, the County will, on or before the 45th day next preceding each mandatory redemption date, furnish the Paying Agent a written certificate indicating to what extent the provisions of said clauses (1), (2) and (3) are to be complied with respect to such mandatory redemption payment. Notice and Effect of Call for Redemption. Notice of the redemption of Bonds will be mailed by the Paying Agent by first class mail not less than 30 days nor more than 60 days prior to the date fixed for redemption to the State Auditor of Missouri, the Underwriter and the Registered Owners of the Bonds to be redeemed at their addresses appearing on the Bond Register. The Bonds specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if, on the redemption date, moneys for payment of the redemption price of the Bonds to be redeemed, together with interest to the redemption date, shall be available for such payment, and if notice of redemption shall have been mailed as aforesaid (and notwithstanding any defect therein or the lack of actual receipt by any Registered Owner), then from and after the redemption date interest on such Bonds shall cease to accrue and become payable. So long as a Securities Depository is effecting book-entry transfers of Bonds, the Paying Agent shall provide notices of the redemption of Bonds only to the Securities Depository. It is expected that the Securities Depository will, in turn, notify its Participants and that the Participants, in turn, will notify the beneficial owners. Any failure on the part of the Securities Depository or a Participant, or failure on the part of a nominee of a beneficial owner of a Bond, to notify the beneficial owner of the Bond so affected will not affect the validity of the redemption of such Bond.

*

Preliminary; subject to change.

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Book–Entry Only System General. The Bonds are available in book-entry only form. Purchasers of the Bonds will not receive certificates representing their interests in the Bonds. Ownership interests in the Bonds will be available to purchasers only through a book-entry system (the “Book-Entry System”) maintained by The Depository Trust Company (“DTC”), New York, New York. The following information concerning DTC and DTC’s book-entry system has been obtained from DTC. The County and the Underwriter take no responsibility as to the accuracy or completeness thereof and neither the Indirect Participants nor the Beneficial Owners should rely on the following information with respect to such matters, but should instead confirm the same with DTC or the Direct Participants, as the case may be. There can be no assurance that DTC will abide by its procedures or that such procedures will not be changed from time to time. DTC will act as securities depository for the Bonds. The Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered Bond certificate will be issued for each maturity of the Bonds, each in the aggregate principal amount of that maturity and will be deposited with DTC or the Paying Agent as its agent. DTC and its Participants. DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC has Standard & Poor’s highest rating: AAA. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com and www.dtc.org. Purchases of Ownership Interests. Purchases of Bonds under the DTC system must be made by or through Direct Participants, which will receive a credit for the Bonds on DTC’s records. The ownership interest of each actual purchaser of each Bond (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book-entry system for the Bonds is discontinued.

-6-

Transfers. To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Bonds with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Bonds; DTC’s records reflect only the identity of the Direct Participants to whose accounts such Bonds are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. Notices. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Bonds may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Bonds, such as redemptions, tenders, defaults, and proposed amendments to the Bond documents. For example, Beneficial Owners of Bonds may wish to ascertain that the nominee holding the Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them. Redemption notices will be sent to DTC. If less than all of the Bonds within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. Voting. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Bonds unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the County as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy). Payments of Principal, Redemption Price and Interest. Redemption proceeds, distributions, and dividend payments on the Bonds will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the County or the Paying Agent, on the payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, the Paying Agent or the County, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the Paying Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. Discontinuation of Book-Entry System. DTC may discontinue providing its services as depository with respect to the Bonds at any time by giving reasonable notice to the County or the Paying Agent. Under such circumstances, in the event that a successor depository is not obtained, bond certificates are required to be printed and delivered. If the system of book-entry-only transfers has been discontinued and a Direct Participant has elected to withdraw its Bonds from DTC (or such successor securities depository), bond certificates may be delivered to Beneficial Owners in the manner described in the Bond Ordinance.

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The information above concerning DTC and DTC’s book-entry system has been obtained from sources that the County believes to be reliable, but is not guaranteed as to accuracy or completeness by and is not to be construed as a representation by the County, the Paying Agent or the Underwriter. The County, the Paying Agent and the Underwriter make no assurances that DTC, Direct Participants, Indirect Participants or other nominees of the Beneficial Owners will act in accordance with the procedures described above or in a timely manner.

SECURITY AND SOURCES OF PAYMENT FOR THE BONDS General Obligations The Bonds constitute general obligation bonds of the County payable as to both principal and interest from special assessments that are levied and assessed upon real property benefitted by the Project, from moneys in the Debt Service Reserve Fund and, if not so paid, from current income and revenue and surplus funds of the County. The Act provides that a special assessment is a lien on the real property against which it is assessed to the same extent as a tax upon real property. Pledge of Full Faith and Credit The full faith and credit of the County are hereby irrevocably pledged for the prompt payment of the principal of and interest on the Bonds as the same become due; provided, however, the County may not impose any new or increased ad valorem property taxes to pay principal of or interest on the Bonds without the voter approval required by the Constitution and laws of the State of Missouri. Levy and Collection of Annual Assessments The Act provides that the portion of the cost of any improvement to be assessed against the real property in a neighborhood improvement district shall be apportioned against such property in accordance with the benefits accruing thereto by reasons of such improvement. The cost may be assessed equally per front foot or per square foot against property within the district or by any other reasonable assessment plan determined by the governing body of the municipality which results in imposing substantially equal burdens or share of the cost upon property similarly benefited. If at any time said assessments are not collected in time to pay the principal of or interest on the Bonds when due, the County is authorized and directed to pay such principal and interest out of the Debt Service Reserve Fund and, if there is insufficient funds in the Debt Service Reserve Fund to make such payments, out of income and revenues of the County for the current fiscal year available therefor or from surplus funds of the County and to reimburse the source of such funds for money so expended when said assessments are collected. Special assessments are collected in the same manner as real property taxes. See the caption “PROPERTY TAX INFORMATION - Property Tax Levies and Collections” herein. Debt Service Reserve Fund A debt service reserve fund (the “Debt Service Reserve Fund”) is established pursuant to the Bond Ordinance and is required to be initially funded in an amount equal to $146,241.34* (the “Debt Service Reserve Requirement”) from the Bonds. Money in the Debt Service Reserve Fund may be used solely to make up any deficiencies in the Bond Fund and, if the money in the Bond Fund is insufficient to pay the principal of or interest on the Bonds as the same become due, the County is required to transfer from the Debt Service Reserve Fund to the Bond Fund an amount sufficient to make up such deficiency. *

Preliminary; subject to change.

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Any amounts in the Debt Service Reserve Fund in excess of the Debt Service Reserve Requirement shall be transferred to the Bond Fund. Levy and Collection of Annual Assessments The unpaid assessments for the Project financed by the issuance of the Bonds, together with interest thereon, will be levied and assessed upon the real properties benefitted for the purpose of producing the amounts necessary for the payment of such principal and interest as the same becomes due and payable in each year. The assessments referred to above shall be levied and collected at the same time and in the same manner as the other ad valorem taxes of the County. The proceeds derived from said assessments shall be deposited in the Bond Fund, shall be kept separate and apart from all other funds of the County and shall be used solely for the payment of the principal of and interest on the Bonds as and when the same become due and the fees and expenses of the Paying Agent. If at any time said assessments are not collected in time to pay the principal of or interest on the Bonds when due, and moneys in the Debt Service Reserve Fund are insufficient therefore, the finance officer of the County is authorized and directed to pay said principal or interest out of the income and revenues of the County for the current fiscal year available therefor or from surplus funds of the County and to reimburse the source of such funds for money so expended when said assessments are collected.

RISK FACTORS AND INVESTMENT CONSIDERATIONS The following is a discussion of certain risks that could affect the debt service payments on the Bonds. In order to identify risk factors and make an informed investment decision, potential investors should be thoroughly familiar with this entire Official Statement (including the appendices hereto). Prospective purchasers of the Bonds should consider carefully all possible factors that may result in a default in the payment of principal and interest on the Bonds. The following discussion, while not setting forth all the factors that must be considered, contains some of the factors that should be considered prior to purchasing the Bonds. This discussion of risk factors is not, and is not intended to be, comprehensive or exhaustive. Bonds Not Secured by Taxing Power If a property owner fails to pay the special assessment against its property, the Bonds are payable from moneys in the Debt Service Reserve Fund and, if not so paid, the current income and revenues and surplus funds of the County. The County does not have the authority to levy ad valorem taxes to pay the principal and interest on the Bonds if the special assessments levied against the benefited property are not paid. The County is neither obligated nor authorized to impose new ad valorem tax levies against the property within the territorial limits of the County for the purpose of paying the principal of or interest on the Bonds. The general ad valorem taxing power of the County is not pledged to the payment of the Bonds. Such general ad valorem property tax levy is available only if a proposition to make such levy is approved by a vote of the qualified electors in the County pursuant to the Constitution and laws of the State of Missouri.

GENERAL INFORMATION CONCERNING THE COUNTY General Information The County is a charter county comprising approximately 668 square miles. The County is located approximately 17 miles southwest of the City of St. Louis, Missouri and is part of the St. Louis metropolitan

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area. The area was originally settled by the French in 1771 and grew rapidly with the founding of mining operations by the end of the 18th Century. The County was organized in 1818, and was named after President Thomas Jefferson. The County’s 2009 population was estimated at 219,046 compared to 103,636 in 1970. The County’s close links with the St. Louis metropolitan area have helped the County become an important regional center. In the past forty years the County has changed from a rural to a suburban area. Of the 114 counties in Missouri, the County is one of only six to achieve first-class status (based upon assessed valuation) and is the fifth largest county in Missouri. Fifteen municipalities are located within the County, including the cities of Hillsboro (the County seat), Arnold (largest in population), Festus, Pevely, De Soto, Crystal City, Herculaneum and several small municipalities. Most of the recent growth in the County has occurred in its northern sector, with growth currently working its way south along Interstate 55 and Highway 30. The County’s economy is diverse and comprised primarily of small businesses, which make up approximately 90% of all business establishments in the County. Nearly one-quarter of employed workers within the County are self-employed with many working in the construction industry. Services provided by the County include judicial, tax collection, public safety, road and bridge maintenance, animal control, document recording, administration of elections and the administration of several federal and state programs. Government and Organization The County is presently governed by three County Executives. In November 2008, the citizens of the County voted to adopt a charter form of government that replaces the three-person Commission operating under the statutory authority of first-class non-charter counties in the State of Missouri. The government is transitioning to the first-class charter form of government and the citizens will elect the initial seven-chair council (the “County Council”) and County Executive in November 2010. The County Executive will be the chief executive officer of the County Government whose responsibilities will include, among others, presiding over the county Council, supervising County departments, boards and agencies, overseeing the performance of contracts, submitting the annual budget to the County Council and coordinating economic development activities. The County Executive will also be responsible for the appointment of the Director of Administration, with the advice and consent of the County Council, who serves as the principal managerial aide to the County Executive. In addition to the County Council, several other County officials that are presently elected will continue to be elected under the Charter including the Sheriff, County Clerk, County Assessor, County Collector, County Treasurer, County Auditor, County Recorder, Prosecuting Attorney, Circuit Clerk and Public Administrator.

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The current County Executives are: Name

Position

Chuck Banks Edward L. Kemp Patrick J. Lamping

County Executive County Executive County Executive

The County Clerk is Wes Wagner. Employees and Employee Relations The County has approximately 599 full-time employees, 115 part-time employees, including uniformed personnel. Under State law, employees of the County have the authority to bargain collectively, but not the authority to strike. Population The historical populations of the County and the State of Missouri are set forth in the following table: Jefferson County Percentage Change Population 2005 2006 2007 2008 2009

210,615 213,768 215,904 217,599 219,046

N/A +1.50% +1.00 +0.79 +0.66

State of Missouri Percentage Population Change 5,806,639 5,861,572 5,909,824 5,956,335 5,987,580

N/A +0.95% +0.82 +0.79 +0.52

Source: U.S. Bureau of Census.

The following table shows the 2000 Census of the U.S. Census Bureau counts of population by age categories for the County and the State:

Age

Jefferson County

State of Missouri

Under 5 5-19 years 20-24 years 25-44 years 45-64 years 65 and over Total

14,257 46,587 11,362 63,075 44,619 18,199 198,099

369,898 1,224,274 369,498 1,626,302 1,249,860 755,379 5,595,211

Median Age

34.9

36.1

Source: U.S. Census Bureau.

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Risk Management The County is exposed to various risks of loss related to torts, theft, damage, and destruction of assets, errors and omissions, injuries to employees and natural disasters The County is a member participant in a public entity risk pool which is a corporate and political body created pursuant to the laws of the State of Missouri. The purpose of the risk pool is to provide liability protection to participating public entities, their official and employees. Annual contributions are collected based on actuarial projections to produce sufficient funds to pay losses and expenses. The County is also a member of the Missouri Association of Counties Self-Insured Workers’ Compensation and Insurance Fund. The County purchases workers’ compensation insurance through this fund. The Fund is self-insured up to $250,000 per occurrence and is reinsured up to the statutory limit through excess insurance. The County has also purchase commercial insurance for other areas of risk that are not covered by the public entity risk pool or self-insurance fund. These policy include customary deductible amounts. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. Public Safety The Cities of Arnold, Byrnes Mill, Crystal City, De Soto, Festus, Herculaneum and Pevely have municipal police departments. The remainder of the County is served by the Jefferson County Sheriff’s Office, which provides service to the unincorporated areas of the County and provides assistance to incorporated areas of the County. The sheriff’s office provides community service programs such as the D.A.R.E. drug program, Neighborhood Watch, School Resource Officers, Safety Awareness programs and other community events throughout the year. The County jail has a capacity to hold 335 prisoners with an average population of 245 inmates (the jail routinely experiences an overflow of inmates). The Cities of Festus, Crystal City, Herculaneum, Hillsboro, Kimmswick and DeSoto have municipal fire departments. The remainder of the county is served by Jefferson County 9-1-1, Antonia Fire Protection District, Cedar Hill Fire District, De Soto Rural Fire Protection District, Eureka Fire Protection District, High Ridge Fire Protection District, Hillsboro Fire Protection District, Jefferson R-7 Fire Protection District, Rock Community Fire Protection District, Shady Valley Fire Protection District, Springdale Fire Protection District and Valle Ambulance District. Utilities Various utilities are available to residents of the County; however, in some areas of the County not all utilities are available to residents. Water service is provided by Jefferson County Public Water Supply Districts Nos. 1, 2, 3, 5, 6, 7, 8, 10, 12 and Consolidated Public Water Supply District No. C-1 of Jefferson County Missouri, several municipalities and private wells. Sewerage Services are provided by House Springs Sewer Co., Cedar Hill Utility Co., Festus Crystal City Sewage, Valle Lake Sewer District, Northeast Public Sewer District, PCB Inc., Hillsboro Sewerage Treatment, Rock Creek Public Sewer District and several municipalities provide their own waste treatment facilities and other municipalities pump their waste to a treatment plant on the Meramec River. Private septic systems are also by some residents of the County. Natural gas service is provided by Laclede Gas Company and AmerenUE. provided by AmerenUE.

Electric service is

Transportation The County has a well-developed transportation system, with major highway, rail and river facilities providing distribution corridors to the rest of the nation. Interstate 55, a major artery linking the northern mid-

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eastern states to the southern states, runs the length of the County and is a connection to St. Louis. Interstate 44, only minutes from the northwestern portion of the County, also connects the County to the St. Louis area and is a connection to the southwestern portion of the United States. Lambert International Airport is located just 35 miles north of the County. BSNF (Burlington-Northern Santa-Fe Railway) and Union Pacific provide service on a daily basis to the County allowing coast-to-coast access by rail. An Amtrak station is located a few miles north of the county in Kirkwood, Missouri. The Jefferson County Port Authority provides freight access from the Mississippi River to federal and state interstates and highways. It offers fleeting services, barge to railway or truck service, warehousing and storage services. The Jefferson County Port Authority also can load and unload barges. The distribution advantage of the County is enhanced by numerous trucking companies which provide freight service to the County. Recreation Much of the western and southern regions of the County are covered by forests, enabling residents to enjoy the solitude and beauty of the Ozark foothills where camping, hiking, fishing and hunting are popular activities. The Meramec River, Mississippi River and Big River form natural boundaries to the north, east and south, respectively, of the County, offering a full range of water sports. In the northern and eastern areas of the County a more urban atmosphere prevails. Linked with the City of St. Louis by excellent highways, residents can take advantage of the many cultural and recreational activities found in St. Louis, such as the St. Louis Symphony Orchestra, the Missouri Botanical Gardens, the St. Louis Zoo, and professional baseball, football, hockey and indoor soccer. To the southwest, within a few hours drive of the County, residents enjoy one of America’s most popular vacation lands. The Lake of the Ozarks region is the heart of this area and it attracts more than five million travelers every year. It is a land rich in history, scenic beauty and resort facilities. Education Public elementary and secondary education is provided by the following eleven school districts within the County: Crystal City School District 47, De Soto School District 73, Dunklin School District R-V, Festus School District R-VI, Fox C-6 School District, Grandview C-4 School District, Hillsboro School District R-III, Jefferson County R-VII School District, Northwest R-1 School District, Sunrise School District R-IX and Windsor C-1 School District. All districts are currently assigned “accredited” status by the Missouri Department of Elementary and Secondary Education, the highest accreditation status given to Missouri school districts. In addition, Catholic, Lutheran and other religious denominations operate parochial school systems located in the County. Jefferson College, located on a 165-acre campus two miles north of the City of Hillsboro with satellite campuses in the Cities of Arnold, High Ridge and Imperial, has been serving the educational needs of the County since 1963, and has received national awards for several of its programs. County residents can also take advantage of the many fine colleges and universities in the St. Louis area, including nationally recognized Washington University, Saint Louis University and the University of Missouri - St. Louis. Healthcare Jefferson Memorial Hospital, a 226-licensed bed hospital with a 24-hour emergency room, is located in the County. There are 50 hospitals located in the St. Louis MSA including Barnes-Jewish Hospital and two medical schools, Washington University Medical School and St. Louis University Medical School. Many other hospitals are located in St. Louis County, which is a short driving distance from the County. In addition, numerous dentists, chiropractors and doctors provide medical services from offices and clinics located in the County.

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Communications and Media Telecommunication services are provided by AT&T and Charter Communications. Charter Communications and AT&T U-verse provide cable television in the County along with several satellite television providers. County residents receive St. Louis radio and television channel signals. Local newspapers include Jefferson County Journal, St. Louis Post-Dispatch, Arnold-Imperial Leader, Festus Jefferson County Leader. Employment Employment in the County is well distributed among the manufacturing, trade and service industries. Listed below are the top 10 employers located in the County and the approximate number of employees employed by each:

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Employer

Type of Business

Wal-Mart (4 stores) Jefferson Memorial Hospital Fox C-6 School District Northwest R-1 School District Jefferson County Government Jefferson College Windsor School District Hillsboro R-3 School District Doe Run Company Westside Personnel Services

Retail Healthcare Education Education Government Higher Education Education Education Natural Resources Temp Agency

Number of Employees 1,315 1,200 1,000 700 650 540 450 413 392 357

Source: Jefferson County Economic Development Corporation.

Unemployment. The following table sets forth the total labor force, number of employed and unemployed workers in the County and, for comparative purposes, the unemployment rates for the State of Missouri and the United States for 2005 through 2009: Jefferson County Labor Force

Unemployment Rates

Year

Employed

Unemployed

Total

Jefferson County

State of Missouri

2005 2006 2007 2008 2009

109,665 111,309 110,656 109,080 104,587

6,248 5,687 6,002 7,954 12,430

115,913 116,996 116,658 117,034 117,017

5.4% 4.9 5.1 6.8 10.6

5.4% 4.8 5.1 6.1 9.3

Source: U.S. Department of Labor; Bureau of Labor Statistics.

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United States 5.1% 4.6 4.6 5.8 9.3

Income Statistics Income. The following table presents median family income statistics from the 2000 Census of the U.S. Census Bureau for the County, the State and the United States: Median Family Income 1999 (dollars) Jefferson County State of Missouri United States Source:

$51,787 46,044 50,046

U.S. Census Bureau.

The following table presents per capita personal income(1) for the County and the State of Missouri for the years 2004 through 2008, the latest years for which such information is available:

Year 2004 2005 2006 2007 2008

Jefferson County Per Capita Income

State of Missouri Per Capita Income

$27,925 29,261 30,684 31,843 33,408

$31,348 32,158 33,896 35,120 36,356

Source: U.S. Department of Commerce, Bureau of Economic Analysis. (1) “Per Capita Personal Income” is the annual total personal income of residents divided by the resident population as of July 1. “Personal Income” is the sum of net earnings by place of residence, rental income of persons, personal dividend income, personal interest income, and transfer payments. “Net Earnings” is earnings by place of work - the sum of wage and salary disbursements (payrolls), other labor income, and proprietors’ income - less personal contributions for social insurance, plus an adjustment to convert earnings by place of work to a place-of-residence basis. Personal Income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes).

Housing The median value of owner-occupied housing units in the County, the State of Missouri and the United States according to the 2000 Census is as follows: Value Jefferson County State of Missouri United States

$99,200 89,900 119,600

Source: U.S. Census Bureau.

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Building and Construction Data The following table sets forth the number and value of residential housing units constructed within the County for the years 2005 through 2009:

Year

Number

2005 2006 2007 2008 2009

1,747 1,578 1,338 991 754

Residential Estimated Value $155,622,762 148,751,547 131,589,579 96,536,331 76,112,815

Source: Jefferson County Assessor’s Office.

FINANCIAL INFORMATION CONCERNING THE COUNTY Accounting, Budgeting and Auditing Procedures The County’s accounts are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The measurement focus of each fund is upon determination of and changes in financial position rather than upon net income. The County uses the funds described below. Governmental Fund Types: General Fund – The General Fund is the general operating fund of the County. It is used to account for all financial resources except those required to be accounted for in another fund. Road and Bridge Fund – The Road and Bridge Fund is used to account for receipts of the County-wide road and bridge property tax levy and related expenditures for road maintenance and improvement projects. Law Enforcement Fund – A Special Revenue Fund used to record the County-wide one half of one percent sales tax receipts and related expenditures to support law enforcement. Road Tax Fund – A Special Revenue Fund used to record the County-wide one half of one percent sales tax receipts and related expenditures for general road maintenance. Assessment Fund – A Special Revenue Fund used to record revenue received from state reimbursement and a fee of six-tenths of a percent of all property tax collections and related expenditures for the operation of the Assessor’s office. Park and Recreation Fund – A Special Revenue Fund used to record the County-wide parks property tax levy and related expenditures for land acquisition, and for park maintenance, improvements and park programs. Capital Improvement Fund – A Capital Projects Fund used to account for the financial resources used for the acquisition or construction of major capital facilities. Debt Service Fund – The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, long-term debt principal, interest, and associated costs.

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The County maintains its financial records on a calendar year basis. The County follows a modified cash basis of accounting which is a comprehensive method of accounting other than based on generally accepted accounting principals. The modified basis of accounting recognizes assets, liabilities, net assets/fund equity, revenues, and expenditures/expenses when they result from cash transactions. An annual budget of estimated receipts and disbursements for the coming fiscal year is prepared by the County Executive, who serves as the budget officer, and is presented to the County Council prior to November 1 for the fiscal year beginning the following January 1. A public hearing is conducted to obtain public comment. Prior to January 1, in a non-election year, the budget is approved by vote of the County Council. The County’s fiscal year is January 1 through December 31. The Budget lists estimated receipts by fund and sources and estimated disbursements by funds and purposes and includes a statement of the rate of levy per hundred dollars of assessed valuation required to raise each amount shown on the budget as coming from County property taxes. Subsequent to its formal approval of the budget, the County Council has the authority to make necessary adjustments to the budget by formal vote of the Council. A copy of the County’s audited financial statements for the fiscal year ended December 31, 2009, is included in this Official Statement as Appendix B. A summary of the County’s significant accounting policies is contained in the Notes accompanying the financial statements. The General Fund In accordance with established accounting procedures of governmental units, the County records its financial transactions under various funds. The largest is the General Fund, from which all general operating expenses are paid and to which taxes and all other revenues not specifically allocated by law or contractual agreement to other funds are deposited. The following table sets forth the revenues, expenditures and fund balances for the County’s General Fund for the last three fiscal years. The audited financial statements of the County for fiscal years ended December 31, 2007- 2009 are available upon request from the County. The County’s audited financial statements for the fiscal year ended December 31, 2009 are included in this Official Statement as Appendix A.

[Remainder of Page Intentionally Left Blank.]

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GENERAL FUND SUMMARY OF OPERATIONS 2007 REVENUES Property taxes(1) Sales taxes Other taxes Grants, distributions and reimbursements Fees, licenses and permits Interest Other Total Revenues

2008

2009

-$10,141,615 487,525 1,173,027 8,962,977 312,644 16,661 $21,094,449

-$10,099,333 931,373 1,141,617 8,573,962 120,103 37,797 $20,904,185

236,473 9,414,366 645,327 1,285,735 8,745,331 18,200 25,138 $20,370,570

$10,419,368 546,945 280,072 6,194,543 32,097

$11,134,165 538,195 277,915 5,991,569 29,948

$ 9,873,417 514,231 274,011 5,922,662 27,396

1,475,698 --

1,256,003 214,384

1,132,519 177,791

393,087 $19,341,810

136,693 $19,578,872

39,962 $17,961,989

$1,752,639

$ 1,325,313

$ 2,408,581

OTHER FINANCING SOURCES (USES) Transfers In Transfers Out Proceeds from Loan Proceeds from Sale of Property Total Other Financing Sources (Uses)

$ 0 (1,802,961) 0 44,446 $(1,758,515)

$ 133 (1,718,909) 0 2,556 $(1,716,220)

$

NET CHANGE IN FUND BALANCES FUND BALANCE - BEGINNING OF YEAR FUND BALANCE - END OF YEAR

$ (5,876) $4,987,463 $4,981,587

$ (390,907) $ 4,981,587 $ 4,590,680

$ 794,578 $ 4,590,680 $ 5,385,258

EXPENDITURES Current: General county government Financial administration Property valuation and recording Administration of justice and law enforcement Health and welfare Debt Service: Principal payments Interest and fiscal charges Capital Outlay: Property, equipment and buildings Total Expenditures EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES

$

180,274 (1,794,877) 0 600 $(1,614,003)

Source: County’s Audited Financial Statements (2007-2009). (1) In 2007 and 2008, County sales tax receipts were sufficient to roll back the County’s general revenue property tax levy to zero. In 2009, as a result of several factors, including the national recession, sales tax receipts were insufficient to fully roll back the property tax levy. As a result, in 2009, the County levied a general revenue property tax.

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Sources of Revenue The County derives its revenue from a variety of sources. The following table shows the estimated allocation of the County’s General Fund revenue by source for the current fiscal year (based upon the County’s approved budget for fiscal year ending December 31, 2010): % of Total General Fund Revenue

Source Property taxes Sales taxes Other taxes Grants, distributions and reimbursements Fees, licenses and permits Interest Other Total Revenues

1.79% 38.73 2.65 13.59 42.18 0.06 0.97 100.00%

Source: Budget for fiscal year ending December 31, 2010.

DEBT STRUCTURE OF THE COUNTY General Obligation Indebtedness; Debt Limitation Debt Summary. The following table summarizes certain financial information concerning the County as of August 1, 2010, excluding any neighborhood improvement bonds or notes. This information should be reviewed in conjunction with the information contained in this section and the financial statements of the County in Appendix A hereto. Population (2009): Assessed Valuation (2009): Estimated Actual Value (2009): Direct General Obligation Bonded Debt: Overlapping General Obligation Debt: Per Capita Direct Debt: Per Capita Direct and Overlapping Debt: Ratio of Direct Debt to Assessed Valuation: Ratio of Direct Debt to Estimated Actual Value: Ratio of Direct Debt and Overlapping Debt to Assessed Valuation: Ratio of Direct Debt and Overlapping Debt to Estimated Actual Value:

219,046 $2,901,346,711.00 $12,496,670,477.00 $0.00 $212,394,518.00 $0.00 $969.63 0.00% 0.00% 7.32% 1.70%

[Remainder of Page Intentionally Left Blank.]

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Computation of Legal Debt Margin. Article III, Section 38(c) of the Constitution of Missouri, limits the net outstanding amount of general obligation neighborhood improvement bonds and notes to 10 percent of the assessed valuation of the County. The legal debt margin of the County for general obligation neighborhood improvement bonds and notes based upon the 2009 assessed valuation is calculated as follows:

(1)

Constitutional Debt Limit (10% of Assessed Valuation) Total Neighborhood Improvement District Indebtedness(1)

$290,134,671 1,580,000*

Legal Debt Margin

$288,554,671

Includes the Bonds.

Article VI, Sections 26(b) and 26(c) of the Constitution of Missouri, limit the net outstanding amount of authorized general obligation bonds, exclusive of neighborhood improvement district bonds and notes, for a county to 10 percent of the assessed valuation of the county. Article VI, Sections 26(d) and 26(e), however, provide that a county may, with the required voter approval, issue general obligation bonds in an amount not to exceed an additional 10 percent of assessed valuation for the purpose of acquiring rights-of-way; constructing, extending and improving streets and avenues; constructing, extending and improving sanitary or storm sewer systems; or purchasing or constructing waterworks or electric light plants. This additional 10 percent is permitted provided that the total general obligation indebtedness of a county, including neighborhood improvement district bonds and notes, does not exceed 20 percent of a county’s assessed valuation. The legal debt margin of the County (excluding the County’s general obligation neighborhood improvement district bonds and notes) based upon the 2009 assessed valuation is calculated as follows: Constitutional Debt Limit (20% of Assessed Valuation) Total General Obligation Indebtedness

$580,269,342 0

Legal Debt Margin

$580,269,342

General Obligation Bonds Outstanding. In June 2004, the County issued Neighborhood Improvement District Bonds (Buena Vista Project), Series 2004 (the “Series 2004 Bonds”) in the aggregate principal amount of $1,430,000. The Buena Vista Neighborhood Improvement District was established by the County for the purpose of financing the costs of certain improvements in connection with the development of a new residential subdivision. Bond are payable from principal and interest from special assessments on property in the District. The principal amount outstanding on the Bonds is $1,125,000.

[Remainder of Page Intentionally Left Blank.]

*

Preliminary; subject to change.

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Overlapping General Obligation Indebtedness The following table sets forth the overlapping and underlying indebtedness of political subdivisions with boundaries overlapping the County as of August 1, 2010, and the percent attributable (on the basis of assessed valuation) to the County(1). The table was compiled from information furnished by the jurisdictions responsible for the debt, and the County has not independently verified the accuracy or completeness of such information. Furthermore, political subdivisions may have ongoing programs requiring the issuance of additional bonds, the amounts of which cannot be determined at this time.

Issuing Body Antonia Fire Protection District High Ridge Fire Protection District Consolidated School District No. 6 (Fox) Dunklin R-V School District Reorganized School District No. R-1 (Northwest R-I) Reorganized School District No. R-2 (Grandview R-II) Reorganized School District No. R-3 (Hillsboro R-III) Reorganized School District No. R-6 (Festus R-VI) Reorganized School District No. R-7 (Jefferson County R-VII) Meramec Valley School District R-3 Rockwood R-6 School District of St. Louis County Reorganized School District No. R-9 (Sunrise R-IX) School District of the City of Crystal City School District of the City of DeSoto Windsor Consolidated School District No. C-1 Junior College District of Mineral Area TOTAL

Outstanding Bonds

Applicable to the County Percent Amount

1,586,000 3,175,792 33,870,000 19,200,000 32,990,000 7,136,000 29,850,000 11,925,000 11,886,454 35,935,000 203,880,000 2,721,212 4,830,000 24,206,000 26,605,000 6,835,000

6.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 5.0 1.0 100.0 100.0 100.0 100.0 1.0

$

95,160 3,175,792 33,870,000 19,200,000 32,990,000 7,136,000 29,850,000 11,925,000 11,886,454 1,796,750 2,038,800 2,721,212 4,830,000 24,206,000 26,605,000 68,350 $212,394,518

Source: Taxing jurisdiction files, Missouri State Auditor’s Office and telephone surveys. (1) Overlapping bonded indebtedness excludes neighborhood improvement district general obligation bonds which are paid from special assessments.

Revenue Bonds The County has no outstanding revenue bonds. Lease Obligations Certificates of Participation. On December 11, 2007 the County caused its Certificates of Participation (Jefferson County, Missouri, Lessee), Series 2007 to be delivered in the original principal amount of $18,930,000 (the “Series 2007 Certificates”) to provide funds to (a) acquire, construct, furnish, and equip a new law enforcement administration building (b) acquire, construct, furnish and equip a new juvenile detention facility and (c) to improve and renovate the existing County Jail and (d) acquire real estate. The Series 2007 Certificates are payable from annual appropriations of surplus revenues of the County. The Series 2007 Certificates are outstanding in the aggregate principal amount of $18,335,000. On March 25, 2010, the County caused its Recovery Zone Economic Development Lease Certificates of Participation, Series 2010 to be delivered in the original principal amount of $1,945,000 (the “Series 2010A Certificates”), to provide funds to fund lighting and control improvements throughout the County (including highway departments, security improvements at the Courthouse and Administration buildings, replacement of windows at the Courthouse and heating, ventilation and air conditioning upgrades at the Courthouse, Juvenile Detention Center Administration, Annex and the Jail. The Series 2010A Certificates are payable from annual

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appropriations of surplus revenues of the County. The Series 2010A Certificates are outstanding in the aggregate principal amount of $1,945,000. On June 17, 2010, the County caused its Refunding Certificates of Participation, Series 2010B to be delivered in the original principal amount of $2,650,000 (the “Series 2010B Certificates”) to provide funds to refund $2,990,000 principal amount of outstanding Certificates of Participation (Jefferson County, Missouri, Lessee), Series 2001A. The Series 2010B Certificates are payable from annual appropriations of surplus revenues of the County. The Series 2010B Certificates are outstanding in the aggregate principal amount of $2,650,000. Capital Leases. The County does not have any capital leases outstanding at this time. Future Debt Plans The County has no present intention to issue additional debt or enter into additional long-term lease obligations. History of Debt Payment The County has never defaulted on any indebtedness of the County and has never failed to appropriate funds for the payment of annual appropriated obligations.

PROPERTY TAX INFORMATION Property Valuations Assessment Procedure. All taxable real and personal property within the County is assessed by the Jefferson County Assessor. Missouri law requires that personal property be assessed at 33-1/3% of true value (except for a few subclasses of minimal value that are assessed at a lower percentage) and that real property be assessed at the following percentages of true value: Residential real property........................................................................... 19% Agricultural and horticultural real property.............................................. 12% Utility, industrial, commercial, railroad and all other real property ......... 32% On January 1 in every odd-numbered year, each County Assessor must adjust the assessed valuation of all real property located within the county in accordance with a two-year assessment and equalization maintenance plan approved by the State Tax Commission. The County Assessor is responsible for preparing the tax roll each year and for submitting the tax roll to the Board of Equalization. The County Board of Equalization has the authority to adjust and equalize the values of individual properties appearing on the tax rolls. Certain properties, such as those used for charitable, educational and religious purposes, are excluded from both the real estate ad valorem tax and the personal property tax.

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Current Assessed Valuation. The following table shows the total assessed valuation and the estimated actual valuation, by category, of all taxable tangible property situated in the County according to the assessment as of January 1, 2009, as finally equalized: Assessed Valuation

Assessment Rate

Estimated Total Valuation

19% 32% 12%

$8,551,962,816 1,366,695,719 64,109,167 $9,982,767,702

$609,263,430

33.33%

$1,827,792,118

Locally Assessed RR & Utility Property: Real Estate Personal Property

$27,027,954 34,586,705

32% 33.33%

$84,462,356 103,760,219

State Assessed RR & Utility Property

160,559,957

32%

501,749,866

Category Real estate: Residential Commercial Agricultural Sub-Total

$1,624,872,935 437,342,630 7,693,100 $2,069,908,665

Personal property(1)

TOTAL

$2,901,346,711

$12,500,532,260

Source: Jefferson County Assessor’s Office. (1) Assumes all personal property is assessed at 33-1/3%; because certain subclasses of tangible personal property are assessed at less than 33-1/3%, the estimated actual valuation for personal property would likely be greater than that shown above.

History of Property Valuation. The total assessed valuation of all taxable tangible property situated in the County, including state-assessed railroad and utility property, according to the assessments of January 1 in each of the following years, as finally equalized, has been as follows:

Year

Assessed Valuation

2004 2005 2006 2007 2008 2009

$2,236,631,039 2,460,508,389 2,546,640,831 2,798,809,909 2,881,114,025 2,901,346,711

Percentage Increase (Decrease) N/A +10.01% +3.50 +9.90 +2.94 +0.70

Source: Jefferson County Assessor’s Office.

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County Tax Rates County tax rates per $100 assessed valuation for real and personal property for years 2005-2009 were as follows: 2006 2007 2008 2009 2005 General(1) Parks and Revenue Road and Bridge Fund Health Developmentally Disabled Mental Health

-$0.0289 0.2181 0.0769 0.0963 0.0963

-$0.0289 0.2164 0.0769 0.0963 0.0963

-$0.0277 0.2100 0.0738 0.0924 0.0924

-$0.0277 0.2100 0.0738 0.0924 0.0924

$0.0167 0.0279 0.2115 0.0742 0.0929 0.0929

Total

$0.5165

$0.5148

$0.4963

$0.4963

$0.5161

Source: County’s Audited Financial Statements (2005-2009). (1) From 2005 through 2008, County sales tax receipts were sufficient to roll back the County’s general revenue property tax levy to zero. In 2009, as a result of several factors, including the national recession, sales tax receipts were insufficient to fully roll back the property tax levy. As a result, in 2009, the County levied a general revenue property tax.

Tax Collection Record The County Collector collects taxes for all taxing bodies having jurisdiction within the County limits. The County Collector deducts a commission for such services. After such collections and deductions of commission, taxes are distributed according to the taxing body’s pro-rata share. The following table sets forth information regarding property tax collections for the County tax levy during the past four tax years:

Tax Year

Total Taxes Levied

2006 2007 2008 2009

$11,231,303.69 12,059,275.44 12,373,906.71 12,969,601.42

Taxes Collected Percentage Amount Collected $11,209,169.64 11,990,492.24 12,205,892.27 12,528,163.36

99.80% 99.43 98.64 96.60

Delinquent Taxes Remaining Outstanding Amount Percentage Outstanding(1) Outstanding(1) $ 22,134.05 68,783.20 168,014.44 441,438.06

Source: Jefferson County Collector’s Office. (1) As of September 15, 2010.

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0.20% 0.57 1.36 3.40

Major Property Taxpayers The table below sets forth the 10 largest personal and real estate property taxpayers within the boundaries of the County for 2009 based on such taxpayer’s assessed valuation of real estate and personal property: Personal Property

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Taxpayer

Type of Business

Assessed Valuation

River Cement Company Metal Container Corporation Saint Gobain Containers Dow Chemical Company Bussen Quarries Inc. Doe Run Resources Corporation Mississippi Sand Carondelet Corporation Joyce Meyer Ministries, Inc. Goodwin Brothers Construction Co.

Cement Manufacturer Can Manufacturer Glass Container Manufacturer Chemical Manufacturer Natural Resources Quarry Metal Producer Quarry Industrial Distribution/Retail Construction

$14,974,830 12,629,900 10,756,450 8,795,130 3,783,440 3,456,960 2,679,670 2,500,000 2,010,570 1,782,450

% of County’s Total Assessed Valuation 0.52% 0.44 0.37 0.30 0.13 0.12 0.09 0.09 0.07 0.06

Source: Jefferson County Assessor’s Office.

Real Estate

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Taxpayer

Type of Business

Assessed Valuation

River Cement Company Doe Run Resources Corporation Joyce Meyer Ministries, Inc. Walmart Real Estate Business Trust Lowes Home Centers, Inc. Metal Container Corporation River Cement Company Inland American High Ridge THF Arnold Triangle Development Jefferson Memorial Hospital

Cement Manufacturer Metal Producer Distribution/Retail Retail Retail Can Manufacturer Cement Manufacturer Retail Real Estate Hospital

$32,517,300 10,780,600 5,088,000 4,730,400 4,086,900 3,835,600 3,185,600 3,728,400 3,700,400 3,418,000

% of County’s Total Assessed Valuation 1.12% 0.37 0.18 0.16 0.14 0.13 0.13 0.13 0.13 0.12

Source: Jefferson County Assessor’s Office.

RATING Standard & Poor’s (the “Rating Service”) has given the Bonds the rating set forth on the cover page of this Official Statement. An explanation of the significance of the rating may be obtained only from the Rating Service. The County has furnished the Rating Service with certain information and materials relating to the Bonds and the County that has not been included in this Official Statement. Generally, the Rating Service bases its rating on the information and materials so furnished and on investigations, studies and assumptions by the Rating Service. There is no assurance that this rating will remain in effect if, in the judgment of the Rating Service, circumstances warrant. The Underwriter has not undertaken any responsibility to bring to the attention of the Owners of the Bonds any proposed revision or withdrawal of a rating of the Bonds or to oppose any such proposed revision or withdrawal. The County has undertaken to notify Bondholders of any

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rating changes pursuant to the Continuing Disclosure Agreement (see the caption “CONTINUING DISCLOSURE”) but has not undertaken any responsibility to bring to the attention of the Owners of the Bonds. Any downward revision or withdrawal of the rating may have an adverse effect on the market price and marketability of the Bonds.

FINANCIAL STATEMENTS The audited financial statements of the County for the fiscal year ended December 31, 2009 are included in Appendix A to this Official Statement. These financial statements have been audited by Schowalter & Jabouri, P.C., an independent certified public accountant, to the extent and for the periods indicated in the report which is also included in Appendix A hereto.

UNDERWRITING Piper Jaffray & Co., St. Louis, Missouri (the “Underwriter”), has agreed, subject to certain conditions, to purchase the Bonds at a purchase price of $____________ (the principal amount of the Bonds less an underwriting discount of $____________). The Underwriter may sell certain of the Bonds at a price greater than such purchase price, as shown on the inside cover page hereof. The Underwriter is purchasing the Bonds for resale in the normal course of the Underwriter’s business activities. The Underwriter reserves the right to offer any of the Bonds to one or more purchasers on such terms and conditions and at such price or prices as the Underwriter, in its discretion, determines. The Underwriter has read and participated in the preparation of certain portions of this Official Statement. The Underwriter has not, however, independently verified the factual and financial information contained in this Official Statement and, accordingly, expresses no view as to the sufficiency or accuracy thereof.

ABSENCE OF LITIGATION As of the date hereof, there is no controversy, suit or other proceeding of any kind pending or, to the County’s knowledge, threatened wherein or whereby any question is raised or may be raised, questioning, disputing or affecting in any way the legal organization of the County, or the right or title of any of its officers to their respective offices, or the legality of any official act in connection with the authorization, issuance and sale of the Bonds, or the constitutionality or validity of the Bonds or any of the proceedings had in relation to the authorization, issuance or sale thereof.

APPROVAL OF LEGALITY All matters incident to the authorization and issuance of the Bonds are subject to the approval of Gilmore & Bell, P.C., St. Louis, Missouri, Bond Counsel. Bond Counsel will also pass on certain matters relating to this Official Statement.

TAX MATTERS Opinion of Bond Counsel Federal and Missouri Tax Exemption. In the opinion of Gilmore & Bell, P.C., Bond Counsel, under existing law, the interest on the Bonds is excludable from gross income for federal and Missouri income tax

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purposes. Interest on the Bonds is not an item of tax preference for purposes of computing the federal alternative minimum tax imposed on individuals and corporations and is not taken into account in determining adjusted current earnings for the purpose of computing the alternative minimum tax imposed on certain corporations. The opinions set forth in this paragraph are subject to the condition that the County comply with all requirements of the Code that must be satisfied subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excludable from gross income for federal and Missouri income tax purposes. The County has covenanted to comply with all such requirements. Failure to comply with certain of such requirements may cause the inclusion of interest on the Bonds in gross income for federal and Missouri income tax purposes retroactive to the date of issuance of the Bonds. Bank Qualification. The Bonds are “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code, and, in the case of certain financial institutions (within the meaning of Section 265(b)(5) of the Code), a deduction is allowed for 80 percent of that portion of such financial institution’s interest expense allocable to interest on the Bonds. No Other Opinions. Bond Counsel expresses no opinion regarding other federal, state or local tax consequences arising with respect to the Bonds. Other Tax Consequences Prospective purchasers of the Bonds should be aware that ownership of the Bonds may result in collateral federal income tax consequences to certain taxpayers, including, without limitation, financial institutions, property and casualty insurance companies, individual recipients of Social Security or Railroad Retirement benefits, certain S corporations with “excess net passive income,” foreign corporations subject to the branch profits tax, life insurance companies, and taxpayers who may be deemed to have incurred or continued indebtedness to purchase or carry or have paid or incurred certain expenses allocable to the Bonds. Bond Counsel expresses no opinion regarding these tax consequences. Purchasers of Bonds should consult their tax advisors as to the applicability of these tax consequences and other federal income tax consequences of the purchase, ownership and disposition of the Bonds, including the possible application of state, local, foreign and other tax laws.

CONTINUING DISCLOSURE The County has covenanted in a Continuing Disclosure Agreement (the “Disclosure Agreement”) to make available certain financial information while the Bonds remain outstanding, in accordance with the requirements of Rule 15c2-12 (the “Rule”) promulgated by the Securities and Exchange Commission. The following is a summary of certain provisions contained in the Disclosure Agreement and is qualified in its entirety by reference to the Disclosure Agreement. The County shall, or shall cause the Dissemination Agent to, not later than 180 days after the end of the County’s Fiscal Year, commencing with the Fiscal Year ending December 31, 2010, provide to the MSRB, through EMMA, the following financial information and operating data (the “Annual Report”): (1) The audited financial statements of the County for the prior fiscal year. If audited financial statements are not available by the time the Annual Report is required to be filed, the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement relating to the Bonds, and the audited financial statements shall be provided in the same manner as the Annual Report promptly after they become available. (2) Updates as of the end of the fiscal year of the financial information and operating data contained in the table set forth under the following caption of the final Official Statement: “FINANCIAL INFORMATION CONCERNING THE COUNTY – The General Fund.”

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The County shall also give, or cause to be given, timely written notice of the occurrence of certain events with respect to the Bonds, if material (“Material Events”). Notwithstanding any other provision of the Disclosure Agreement, the County may amend the Disclosure Agreement and any provision of the Disclosure Agreement may be waived, provided that Bond Counsel or other counsel experienced in federal securities law matters provides the County with its opinion that the undertaking of the County contained herein, as so amended or after giving effect to such waiver, is in compliance with the Rule and all current amendments thereto and interpretations thereof that are applicable to the Disclosure Agreement. If the County fails to comply with any provision of the Disclosure Agreement, any Beneficial Owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandamus or specific performance by court order, to cause the County to comply with its obligations under the Disclosure Agreement. A default under the Disclosure Agreement shall not be an event of default under the Bond Ordinance, and the sole remedy under the Disclosure Agreement if the County fails to comply with the Disclosure Agreement shall be an action to compel performance. The County’s obligations under the Disclosure Agreement will terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. The County is currently in compliance with its continuing disclosure undertaking pursuant to the Rule.

MISCELLANEOUS Information set forth in this Official Statement has been furnished or reviewed by certain officials of the County, and other sources, as referred to herein, which are believed to be reliable. Any statements made in this Official Statement involving matters of opinion, estimates or projections, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that any of the estimates or projections will be realized. The descriptions contained in this Official Statement of the Bonds and the Bond Ordinance do not purport to be complete and are qualified in their entirety by reference thereto. JEFFERSON COUNTY, MISSOURI

By: Name: Chuck Banks Title: County Executive

By: Name: Edward L. Kemp Title: County Executive

By: Name: Patrick J. Lamping Title: County Executive

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APPENDIX A

AUDITED FINANCIAL STATEMENTS OF THE COUNTY FOR FISCAL YEAR ENDED DECEMBER 31, 2009

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