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10A Action 2014 0902
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10A Action 2014 0902
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Last modified
9/15/2014 10:09:04 AM
Creation date
8/26/2014 5:28:19 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
9/2/2014
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_CC Agenda 2014 0902 CS+RG
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0902
SA Reso 2014-004
(Reference)
Path:
\City Clerk\City Council\Resolutions\2014
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<br />D-3 <br />shall contain unaudited financial statements in a format similar to the financial statements <br />contained in the final Official Statement, and the audited financial statements shall be filed in the <br />same manner as the Annual Report when they become available. <br /> <br />(b) Unless otherwise provided in the audited financial statements filed on or before <br />the Annual Report Date, financial information and operating data with respect to the Successor <br />Agency for the preceding fiscal year, substantially similar to that provided in the corresponding <br />tables in the Official Statement: <br /> <br />(i) Principal amount of Bonds outstanding as of June 30 of the most recently- <br />completed fiscal year. <br /> <br />(ii) Balance in the Reserve Account and a statement of the Reserve Requirement as <br />of June 30 of the most recently-completed fiscal year. <br /> <br />(iii) The information in the following tables of the Official Statement for the most <br />recently completed fiscal year: Tables 1, 2, 4, 5, 6 and 11 (except that no <br />projections are required). <br /> <br />(c) In addition to any of the information expressly required to be provided under this <br />Disclosure Certificate, the Successor Agency shall provide such further material information, if <br />any, as may be necessary to make the specifically required statements, in the light of the <br />circumstances under which they are made, not misleading. <br /> <br />(d) Any or all of the items listed above may be included by specific reference to other <br />documents, including official statements of debt issues of the Successor Agency or related <br />public entities, which are available to the public on the MSRB’s Internet web site or filed with the <br />Securities and Exchange Commission. The Successor Agency shall clearly identify each such <br />other document so included by reference. <br /> <br />Section 5. Reporting of Significant Events. <br /> <br />(a) The Successor Agency shall give, or cause to be given, notice of the occurrence <br />of any of the following Listed Events with respect to the Bonds: <br /> <br />(1) Principal and interest payment delinquencies. <br /> <br />(2) Non-payment related defaults, if material. <br /> <br />(3) Unscheduled draws on debt service reserves reflecting financial <br />difficulties. <br /> <br />(4) Unscheduled draws on credit enhancements reflecting financial <br />difficulties. <br /> <br />(5) Substitution of credit or liquidity providers, or their failure to perform. <br /> <br />(6) Adverse tax opinions, the issuance by the Internal Revenue Service of <br />proposed or final determinations of taxability, Notices of Proposed Issue <br />(IRS Form 5701-TEB) or other material notices or determinations with
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