DISCLAIMER: The information on this website is provided by the Municipal Advisory Council of Texas (“MAC”) for informational purposes only, and is not intended to be, and should not be considered as, a recommendation, endorsement or solicitation to buy or sell any security. This web site and the information contained hereon is not intended for use in making an investment decision, and the MAC does not intend to provide investment, legal or tax advice. Investors should consult their own investment, legal or tax advisers regarding the appropriateness of investing in the securities of issuers described on this web site. Nothing herein should be construed to be an endorsement by the MAC of any issuer or as an offer to sell or a solicitation to buy any security or other financial instrument. The MAC expressly disclaims any liability for the accuracy, timeliness or completeness of data on this web site. The information on this web site may be updated from time to time, but the MAC specifically disclaims any responsibility to update such information. The information on this web site has been obtained by the MAC from sources believed by the MAC to be reliable, but the MAC has not independently verified the accuracy or the currency of such information. The information on this website is not intended for use in any regulatory, judicial, quasi-judicial, administrative or other similar proceeding, and the information on this website should not be used or relied upon for evidentiary purposes or as proof of or corroboration for any fact or circumstance. The MAC is not an agency of the State of Texas or any other government entity.