06-14-2021 Council Packet - Laserfiche WebLink

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APPENDIX II II-1 CONTINUING DISCLOSURE CERTIFICATE $ City of Lino Lakes, Minnesota General Obligation Street Reconstruction Bonds Series 2021A July ___, 2021 This Continuing Disclosure Certificate (the “Disclosure Certificate”) is executed and delivered by the City of Lino Lakes, Minnesota (the “Issuer”) in connection with the issuance of its General Obligation Street Reconstruction Bonds, Series 2021A (the “Bonds”), in the original aggregate principal amount of $ . The Bonds are being issued pursuant to resolutions adopted by the City Council of the Issuer (the “Resolutions”). The Bonds are being delivered to _________________ (the “Purchaser”) on the date hereof. Pursuant to the Resolutions, the Issuer has covenanted and agreed to provide continuing disclosure of certain financial information and operating data and timely notices of the occurrence of certain events. The Issuer hereby covenants and agrees as follows: Section 1. Purpose of the Disclosure Certificate. This Disclosure Certificate is being executed and delivered by the Issuer for the benefit of the Holders (as defined herein) of the Bonds in order to provide for the public availability of such information and assist the Participating Underwriter(s) (as defined herein) in complying with the Rule (as defined herein). This Disclosure Certificate, together with the Resolutions, constitutes the written agreement or contract for the benefit of the Holders of the Bonds that is required by the Rule. Section 2. Definitions. In addition to the defined terms set forth in the Resolutions, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: “Annual Report” means any annual report provided by the Issuer pursuant to, and as described in, Sections 3 and 4 of this Disclosure Certificate. “Audited Financial Statements” means annual financial statements of the Issuer, prepared in accordance with GAAP as prescribed by GASB. “Bonds” means the General Obligation Street Reconstruction Bonds, Series 2021A, issued by the Issuer in the original aggregate principal amount of $___________. “Disclosure Certificate” means this Continuing Disclosure Certificate. “EMMA” means the Electronic Municipal Market Access system operated by the MSRB and designated as a nationally recognized municipal securities information repository and the exclusive portal for complying with the continuing disclosure requirements of the Rule. “Final Official Statement” means the deemed Final Official Statement, dated June ___, 2021, which constitutes the final official statement delivered in connection with the Bonds, which is available from the MSRB. “Financial Obligation” means a (a) debt obligation; (b) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (c) guarantee of a Financial Obligation as described in clause (a) or (b). The term “Financial Obligation” shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule. “Fiscal Year” means the fiscal year of the Issuer. “GAAP” means generally accepted accounting principles for governmental units as prescribed by GASB.