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Bond, any person or entity which (i) has the power, directly or indirectly, to vote or consent with <br />respect to, or to dispose of ownership of, such Bond (including persons or entities holding Bonds <br />through nominees, depositories or other intermediaries), or (ii) is treated as the owner of the <br />Bond for federal income tax purposes. <br />(b) Information To Be Disclosed. The City will provide, in the manner set forth in <br />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 12 months after the end of each fiscal year of the City, commencing <br />with the fiscal year ending December 31, 2017, the following financial <br />information and operating data in respect of the City (the Disclosure Information): <br />(A) the audited financial statements of the City for such fiscal year, prepared <br />in accordance with generally accepted accounting principles in accordance <br />with the governmental accounting standards promulgated by the <br />Governmental Accounting Standards Board or as otherwise provided <br />under Minnesota law, as in effect from time to rime, or, if and to the extent <br />such financial statements have not been prepared in accordance with such <br />generally accepted accounting principles for reasons beyond the <br />reasonable control of the City, noting the discrepancies therefrom and the <br />effect thereof, and certified as to accuracy and completeness in all material <br />respects by the fiscal 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 <br />most recently available of the type contained in the Official Statement <br />under headings: Current Property Valuations; Direct Debt; Tax Levies and <br />Collections; Population Trend and Employment/Unemployment Data, <br />which information may be unaudited. <br />Notwithstanding the foregoing paragraph, if the audited financial statements are not available by <br />the date specified, the City shall provide on or before such date unaudited financial statements in <br />the format required for the audited financial statements as part of the Disclosure Information and, <br />within 10 days after the receipt thereof, the City shall provide the audited financial statements. <br />Any or all of the Disclosure Information may be incorporated by reference, if it is updated as <br />required hereby, from other documents, including official statements, which have been filed with <br />the SEC or have been made available to the public on the Internet Web site of the Municipal <br />Securities Rulemaking Board (MSRB). The City shall clearly identify in the Disclosure <br />Information each document so incorporated by reference. If any part of the Disclosure <br />Information can no longer be generated because the operations of the City have materially <br />changed or been discontinued, such Disclosure Information need no longer be provided if the <br />City includes in the Disclosure Information a statement to such effect, provided, however, if such <br />operations have been replaced by other City operations in respect of which data is not included in <br />the Disclosure Information and the City determines that certain specified data regarding such <br />replacement operations would be described in paragraph (2) hereof, then, from and after such <br />determination, the Disclosure Information shall include such additional specified data regarding <br />13 <br />4852- 7706 - 1987\2 <br />