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RES 21-045 RELATING TO $2,970,000 GENERAL OBLIGATION BONDS SERIES 2021A
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RES 21-045 RELATING TO $2,970,000 GENERAL OBLIGATION BONDS SERIES 2021A
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4/29/2021 12:30:42 PM
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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 <br />and Collections," "US Census Data/Population Trend," and <br />"Employment/Unemployment Data," which information may be <br />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 hiformation 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). If the document incorporated by reference is a final <br />official statement, it must be available from the MSRB. The City shall clearly identify in the <br />Disclosure Information each document so incorporated by reference. If any part of the <br />Disclosure Information can no longer be generated because the operations of the City have <br />materially changed or been discontinued, such Disclosure Information need no longer be <br />provided if the City includes in the Disclosure Information a statement to such effect; provided, <br />however, if such operations have been replaced by other City operations in respect of which data <br />is not included in the Disclosure Information and the City determines that certain specified data <br />regarding such replacement operations would be a Material Fact (as defined in paragraph (2) <br />hereof), then, from and after such determination, the Disclosure Information shall include such <br />additional specified data regarding the replacement operations. If the Disclosure Information is <br />changed or this section is amended as permitted by this paragraph (b)(1) or subsection (d), then <br />the City shall include in the next Disclosure Information to be delivered hereunder, to the extent <br />necessary, an explanation of the reasons for the amendment and the effect of any change in the <br />type of financial information or operating data provided. <br />(2) In a timely manner not in excess of ten business days after the occurrence of the <br />event, notice of the occurrence of any of the following events (each a "Material <br />Fact'): <br />(A) Principal and interest payment delinquencies; <br />(B) Non-payment related defaults, if material; <br />(C) Unscheduled draws on debt service reserves reflecting financial <br />difficulties; <br />(D) Unscheduled draws on credit enhancements reflecting financial <br />difficulties; <br />(E) Substitution of credit or liquidity providers, or their failure to perform; <br />13 <br />4813-3012-09294 <br />
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