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• 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 shall <br /> 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 /> financial statements have not been prepared in accordance with such generally <br /> accepted accounting principles for reasons beyond the reasonable control of the <br /> City, noting the discrepancies therefrom and the effect thereof, <br /> and certified as to accuracy and completeness in all material respects by the fiscal <br /> officer of the City; and <br /> (B) To the extent not included in the financial statements referred to in <br /> paragraph (A) hereof, the information for such fiscal year or for the period most <br /> recently available of the type set forth below, which information may be <br /> unaudited, but is to be certified as to accuracy and completeness in all material <br /> respects by the City's financial officer to the best of his or her knowledge, which <br /> certification may be based on the reliability of information obtained from <br /> governmental or third party sources: <br /> • City Property Values <br /> • City Indebtedness <br /> • City Tax Capacity Rates <br /> • City Tax Levies and Collections <br /> • Current General Fund Budget <br /> -19- <br />