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Finance Highlights 2011 1202
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Finance Highlights 2011 1202
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12/13/2011 6:20:44 PM
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12/13/2011 6:17:13 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
12/2/2011
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_CC Agenda 2011 1219
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\City Clerk\City Council\Agenda Packets\2011\Packet 2011 1219
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Notwithstanding the foregoing, notice of Significant Events described in subsections (a)(8) and <br />(9) above need not be given under this subsection any earlier than the notice (if any) of the <br />underlying event is given to holders of affected Bonds under the Indenture. <br />(c) The City acknowledges that the events described in subparagraphs (a)(2), (a)(7), <br />(a)(8) (if the event is a bond call), (a)(10), (a)(13), and (a)(14) of this Section 5 contain the <br />qualifier "if material." The City shall cause a notice to be filed as set forth in paragraph (b) <br />above with respect to any such event only to the extent that the City determines the event's <br />occurrence is material for purposes of U.S. federal securities law. <br />(d) For purposes of this Disclosure Certificate, any event described in paragraph (a)(12) <br />above is considered to occur when any of the following occur: the appointment of a receiver, <br />fiscal agent, or similar officer for the City in a proceeding under the United States Bankruptcy <br />Code or in any other proceeding under state or federal law in which a court or governmental <br />authority has assumed jurisdiction over substantially all of the assets or business of the City, or <br />if such jurisdiction has been assumed by leaving the existing governing body and officials or <br />officers in possession but subject to the supervision and orders of a court or governmental <br />authority, or the entry of an order confirming a plan of reorganization, arrangement, or <br />liquidation by a court or governmental authority having supervision or jurisdiction over <br />substantially all of the assets or business of the City. <br />Section 6. Identifying Information for Filings with the MSRB All documents provided to <br />the MSRB under the Disclosure Certificate shall be accompanied by identifying information as <br />prescribed by the MSRB. <br />Section 7. Termination of Reporting Obligation The City's obligations under this <br />Disclosure Certificate shall terminate upon the legal defeasance, prior redemption or payment in <br />full of all of the Bonds. If such termination occurs prior to the final maturity of the Bonds, the City <br />shall give notice of such termination in the same manner as for a Significant Event under <br />Section 5(c). <br />Section 8. Dissemination Agent The City may, from time to time, appoint or engage a <br />Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate, <br />and may discharge any Dissemination Agent, with or without appointing a successor <br />Dissemination Agent. Any Dissemination Agent may resign by providing 30 days' written notice <br />to the City. Initially, the City will act as dissemination hereunder. <br />Section 9. Amendment; Waiver Notwithstanding any other provision of this Disclosure <br />Certificate, the City may amend this Disclosure Certificate, and any provision of this Disclosure <br />Certificate may be waived, provided that the following conditions are satisfied: <br />(a) if the amendment or waiver relates to the provisions of Sections 3(a), 4 or 5(a), it <br />may only be made in connection with a change in circumstances that arises from a change in <br />legal requirements, change in law, or change in the identity, nature, or status of an obligated <br />person with respect to the Bonds, or type of business conducted; <br />(b) the undertakings herein, as proposed to be amended or waived, would, in the <br />opinion of nationally recognized bond counsel, have complied with the requirements of the Rule <br />at the time of the primary offering of the Bonds, after taking into account any amendments or <br />interpretations of the Rule, as well as any change in circumstances; and <br />F -5 <br />
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