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10A Action Items 2018 1105
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10A Action Items 2018 1105
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10/30/2018 7:09:23 PM
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10/30/2018 7:09:16 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
11/5/2018
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PERM
Document Relationships
PFA Reso 2018-002
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2018
Reso 2018-135
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2018
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<br />D–6 <br />the change is made shall present a comparison between the financial statements or information prepared on the basis of the new accounting principles and those prepared on the basis of the <br />former accounting principles. The comparison shall include a qualitative discussion of the <br />differences in the accounting principles and the impact of the change in the accounting principles on the presentation of the financial information, in order to provide information to <br />investors to enable them to evaluate the ability of the City to meet its obligations. To the extent reasonably feasible, the comparison shall be quantitative. <br />The Dissemination Agent shall not be obligated to enter into any amendment increasing or affecting its duties or obligations hereunder. <br />A notice of any amendment made pursuant to this Section 9 shall be filed in the same manner as for a Significant Event under Section 5(c). <br /> <br />Section 10. Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the City from disseminating any other information, using the means of <br />dissemination set forth in this Disclosure Certificate or any other means of communication, or <br />including any other information in any Annual Report or notice of occurrence of a Significant Event, in addition to that which is required by this Disclosure Certificate. If the City chooses to <br />include any information in any Annual Report or notice of occurrence of a Significant Event in <br />addition to that which is specifically required by this Disclosure Certificate, the City shall have no obligation under this Disclosure Certificate to update such information or include it in any future <br />Annual Report or notice of occurrence of a Significant Event. Section 11. Default. If the City fails to comply with any provision of this Disclosure <br />Certificate, the Participating Underwriter or any holder or beneficial owner of the Bonds may <br />take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this <br />Disclosure Certificate. A default under this Disclosure Certificate shall not be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure Certificate in the event of any failure of the City to comply with this Disclosure Certificate shall be an action to <br />compel performance. <br />Section 12. Duties, Immunities and Liabilities of Dissemination Agent. (a) Article VIII of <br />the Indenture is hereby made applicable to this Disclosure Certificate as if this Disclosure Certificate were (solely for this purpose) contained in the Indenture. The Dissemination Agent <br />shall be entitled to the protections and limitations from liability afforded to the Trustee <br />thereunder. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Certificate, and the City agrees to indemnify and save the Dissemination Agent, <br />its officers, directors, employees and agents, harmless against any loss, expense and liabilities which they may incur arising out of or in the exercise or performance of its powers and duties hereunder, including the costs and expenses (including attorneys fees) of defending against any <br />claim of liability, but excluding liabilities due to the Dissemination Agent’s negligence or willful <br />misconduct. The Dissemination Agent shall have no duty or obligation to review any information provided to it by the City hereunder, and shall not be deemed to be acting in any fiduciary <br />capacity for the City, the Bond holders or any other party. The obligations of the City under this Section shall survive resignation or removal of the Dissemination Agent and payment of the Bonds. <br /> (b) The Dissemination Agent shall be paid compensation by the City for its services <br />provided hereunder in accordance with its schedule of fees as amended from time to time, and
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