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• (A) The audited financial statements of the Issuer for such fiscal year, prepared in accordance with generally accepted accounting principles promulgated by the Financial Accounting Standards Boazd as modified in accordance with the governmental accounting standards promulgated by the Governmental Accounting Standazds Boazd or as otherwise provided under Minnesota law, as in effect from time to time, or, if and to the extent such financial statements have not been prepared in accordance with such generally accepted accounting principles for reasons beyond the reasonable control of the Issuer, noting the discrepancies therefrom and the effect thereof, and certified as to accuracy and completeness in all material respects by the fiscal officers of the Issuer; and (B) To the extent not included in the financial statements referred to in paragraph (A) hereof, information of the type set forth below (identified by captions used in the Official Statement relating to the Bonds), which information may be unaudited, but is to be certified as to accuracy and completeness in all material respects by the Issuer's financial officer to the best of his or her knowledge, which certification may be based on the reliability of information obtained from governmental or other third party sources: City Property Values City Indebtedness • City Tax Rates, Levies and Collections Funds on Hand City Improvements General Information Concerning the City Governmental Organization and Services Annual Financial Statements Notwithstanding the foregoing paragraph, if the audited financial statements are not available by the date specified, the Issuer shall provide on or before such date unaudited financial statements in the format required for the audited financial statements as part of the Disclosure Information and, within 10 days after the receipt thereof, the Issuer shall provide the audited financial statements. Any or all of the Disclosure Information may be incorporated, if it is updated as required by the Disclosure Covenants, by reference from other documents, including official statements. If the document incorporated by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Boazd (the "MSRB"). If any part of the Disclosure Information can no longer be generated because the operations of the Issuer have materially changed or been discontinued, such Disclosure Information need no longer be provided if the Issuer includes in the Disclosure Information a statement to such effect; . provided however, if such operations have been replaced by other Issuer operations in respect of 1452997 A-2