Resolution 24-125 - Laserfiche WebLink

Home Search

(d) The Recipient agrees to provide such information as may be reasonably requested by any rating agency in connection with rating the Bonds of tile Authority. Semtiom5.2 Continuing Disclosure. If the Authority, in its sole discretion, determines, at any time prior to payment of tile Loan in full, (|) that the Recipient is a material "obligated person," as the term "obligated person" is defined in Rule 15c2-12 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended or supplemented, including any successor regulation t t t thereto ("Rule 15o3 12") or(i|) that an event has occurred with respect to the Recipient or the Loan that must be disclosed under Rule 15c2-12, or (M)Ahit any other action of the Recipient has occurred which the Authority determines it) its sole discy 'is material to an investor in the Bonds, the Recipient covenants that it will authorize and provide , "e Authority, for inclusion in a Disclosure Document, all staternents and information relating to-th'6-,R0J0J,6nt deemed material by tile Authority for the purpose of satisfying Rule 15c2-12 as well as lob-5'6r, Igated pursuant to tile Securities Exchange Act of 1934, as amended or supple _t' including aily:i6ccessor regulation or statute thereto ("Rule lob-5"), including certificates,,A`W` `;W'n en representdti' the Recipient evidencing satisfaction of the requirements of Rule, c ��_l an Rule 10b-5. The'A-6thbrity in its sole discretion and asset forth in a resolution or official stafghibritof tile A tbority, will dete�'rrnjno materiality im under each of clause (i) and clause (iii) pursuant to crit I a lish fforn time to t e. T Recipient further covenants that, if determined to be Such a materia I erson, it will execute and deliver a continuing disclosure agreement, in thdi'forni as the ut 1_1 t rrnines to be necessary, desirable or convenient, in its sole discretion, fdtlh i3itppse i eti q requirements of Rule 15c2-12. nt, tile Recipient will Pursuant to the terms and provision 11,11 iniping disclosuf eeme In ""'At information and financial thereafter provide ongoing disclosure wl b nual a nd 'eve statements relating to the Recipient requir undertaking under Rule 15c-12. sclose any information about tile sole discretion, to b6 `�-pect a rids. AUDITS, REPORTS AND INSPECTIONS Seciii" Financial Re6 keeping. T& all expenditures made pursuant to this Agreement, the Recipieh't","M'A"'fist keep 1 i c unts and records in accordance with generally accepted accounting tracts, receipts, vouchers and other documents sufficient to evidence principles Wing in etd-111hia- n r riety of the expenditures and any investments made with proceeds of the Loan or 6ih ceeds" of the Note or the tax-exempt Bonds of the Authority. Such accounts and recor` s-ti,, accessible and available for a minimum of six years from the date of initiation of operation the Project and for so long as tile Note is outstanding for examination by authorized representatives ofthe Authority, the Office of the Legislative Auditor, the office of the State Auditor and the EPA Office of Inspector General. Section 7.2 Annual Financial Reports. (a) The Recipient must annually provide to the Authority for the term nfthe Loan acopy ofanindependent audit ufits financial statements. All audit reports must bo submitted within 30 days after the completion of tile audit but no later than one year after the end of the fiscal year tu beaudited. The audits must be conducted /n accordance with generally accepted GnuLakes-1}VVRF_O1 Page Sof12