Laserfiche WebLink
50 <br /> disclosure must be made. <br /> If the City fails to comply with any provisions of this Section 7, any person <br /> aggrieved thereby, including the Owners of any Outstanding Bonds, may take whatever action at <br /> law or in equity may appear necessary or appropriate to.enforce performance and:observance of <br /> any agreement or covenant contained in this Section 7, including an action for a writ of. <br /> mandamus or specific performance. Direct, indirect, consequential and punitive damages shall <br /> not be recoverable for any default hereunder to the extent permitted by law. Notwithstanding <br /> anything to the contrary contained herein, in no event shall a default under this Section 7 <br /> constitute a default under the Bonds or under any other provision of this resolution. <br /> As used in this Section 7, "Owner" or"Bondowner" means, in respect of a Bond, <br /> the registered owner or owners thereof appearing in the bond register maintained by the <br /> Registrar or any "Beneficial Owner" (as hereinafter defined)thereof, if such Beneficial Owner <br /> provides to the Registrar evidence of such beneficial ownership in form and substance <br /> reasonably satisfactory to the Registrar. As used herein, `Beneficial Owner"means, in respect <br /> of a Bond, any person or entity which(i)has the power, directly or indirectly, to vote or consent <br /> with respect to, or to dispose of ownership of, such Bond (including persons or entities holding <br /> Bonds through nominees, depositories or other intermediaries), or(b) is treated as the owner of <br /> the Bond for federal income tax purposes. As used herein, "Outstanding" when used as of any <br /> particular time with reference to Bonds means.all Bonds theretofore, or thereupon being, <br /> authenticated and.delivered by the Registrar under this Resolution except (i) Bonds theretofore <br /> canceled by the Registrar or surrendered to the Registrar for cancellation; (ii) Bonds with respect <br /> to which the liability of the City has been discharged in accordance with.Section 5 hereof; and <br /> (iii) Bonds for the transfer or exchange or in lieu of or in substitution for which other Bonds <br /> shall have been authenticated and delivered by the Registrar pursuant to this Resolution. <br /> (b) Information To Be Disclosed. The City will provide, in the manner set forth <br /> in subsection (c) hereof, either directly or indirectly through an agent designated by the City, the <br /> following information at the following times: <br /> (1) on or before 365 days after the end of each fiscal year of the City, <br /> commencing with the fiscal year ending December 31, 2000 the following financial information <br /> and operating data in respect of the City (the "Disclosure Information"): <br /> (A) the audited financial statements of the City for such fiscal year, <br /> accompanied by the audit report and opinion of the accountant or government <br /> auditor relating thereto, as permitted or required by the laws of the State of <br /> Minnesota, containing balance sheets as of the end of such fiscal year and a <br /> statement of operations, changes in fund balances and cash flows for the fiscal <br /> year then ended, showing in comparative form such figures for the preceding <br /> fiscal year of the City, prepared in accordance with generally accepted accounting <br /> principles promulgated by the Financial Accounting Standards Board as modified <br /> in accordance.with the governmental accounting standards promulgated by the <br /> Governmental Accounting Standards Board or as otherwise provided under <br /> Minnesota law, as in effect from time to time, or, if and to the extent such <br /> -18- <br />