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CC PACKET 04252017
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CC PACKET 04252017
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4/21/2017 3:42:44 PM
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(C) the termination of the obligations of the City under this section pursuant to <br />subsection (d); <br />(D) any change in the accounting principles pursuant to which the financial <br />statements constituting a portion of the Disclosure Information are <br />prepared; and <br />(E) any change in the fiscal year of the City. <br /> <br />(c) Manner of Disclosure. <br /> <br />(1) The City agrees to make available to the MSRB through EMMA, in an electronic <br />format as prescribed by the MSRB, the information described in subsection (b). <br /> <br />(2) All documents provided to the MSRB pursuant to this subsection (c) shall be <br />accompanied by identifying information as prescribed by the MSRB from time to <br />time. <br /> <br />(d) Term; Amendments; Interpretation. <br /> <br />(1) The covenants of the City in this section shall remain in effect so long as any <br />Bonds are Outstanding. Notwithstanding the preceding sentence, however, the <br />obligations of the City under this section shall terminate and be without further <br />effect as of any date on which the City delivers to the Registrar an opinion of <br />Bond Counsel to the effect that, because of legislative action or final judicial or <br />administrative actions or proceedings, the failure of the City to comply with the <br />requirements of this section will not cause participating underwriters in the <br />primary offering of the Bonds to be in violation of the Rule or other applicable <br />requirements of the Securities Exchange Act of 1934, as amended, or any statutes <br />or laws successory thereto or amendatory thereof. <br /> <br />(2) This section (and the form and requirements of the Disclosure Information) may <br />be amended or supplemented by the City from time to time, without notice to <br />(except as provided in paragraph (c)(3) hereof) or the consent of the Owners of <br />any Bonds, by a resolution of this Council filed in the office of the recording <br />officer of the City accompanied by an opinion of Bond Counsel, who may rely on <br />certificates of the City and others and the opinion may be subject to customary <br />qualifications, to the effect that: (i) such amendment or supplement (a) is made in <br />connection with a change in circumstances that arises from a change in law or <br />regulation or a change in the identity, nature or status of the City or the type of <br />operations conducted by the City, or (b) is required by, or better complies with, <br />the provisions of paragraph (b)(5) of the Rule; (ii) this section as so amended or <br />supplemented would have complied with the requirements of paragraph (b)(5) of <br />the Rule at the time of the primary offering of the Bonds, giving effect to any <br />change in circumstances applicable under clause (i)(a) and assuming that the Rule <br />as in effect and interpreted at the time of the amendment or supplement was in <br />effect at the time of the primary offering; and (iii) such amendment or supplement <br />does not materially impair the interests of the Bondowners under the Rule. <br />33
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