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CC PACKET 12132011
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CC PACKET 12132011
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7/30/2015 9:50:55 AM
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4/30/2014 4:44:06 PM
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City Council
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City Code Chapter Amendment
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M <br />within the meaning of applicable federal securities laws, as interpreted at the time of discovery of <br />the occurrence of the event. <br />(3) In a timely manner, notice of the occurrence of any of the following events or <br />conditions: <br />(A) the failure of the City to provide the Disclosure Information <br />required under paragraph (1) of this subsection (b) at the time specified <br />thereunder; <br />(B) the amendment or supplementing of this Section 8 pursuant to <br />subsection (d), together with a copy of such amendment or supplement and <br />any explanation provided by the City under paragraph (2) of subsection (d); <br />(C) the termination of the obligations of the City under this Section 8 <br />pursuant to 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 prepared; and <br />(E) any change in the fiscal year of the City. <br />(c) Manner of Disclosure. The City agrees to make available the information described <br />in subsection (b) as follows: <br />(1) The City agrees to make available to the MSRB, in an electronic format as <br />prescribed by the MSRB from time to time, the information described in subsection (b). <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 time. <br />(d) Term; Amendments; Interpretation. <br />(1) The covenants of the City in this Section 8 shall remain in effect so long as any <br />Bonds are Outstanding. Notwithstanding the preceding sentence, however, the obligations of the <br />City under this Section 8 shall terminate and be without further effect as of any date on which the <br />City delivers to the Registrar an opinion of Bond Counsel to the effect that, because of legislative <br />action or final judicial or administrative actions or proceedings, the failure of the City to comply <br />with the requirements of this Section 8 will not cause participating underwriters in the primary <br />offering of the Bonds to be in violation of the Rule or other applicable requirements of the <br />Securities Exchange Act of 1934, as amended, or any statutes or laws successory thereto or <br />amendatory thereof <br />(2) This Section 8 (and the form and requirements of the Disclosure Information) may be <br />amended or supplemented by the City from time to time, without notice to (except as provided in <br />paragraph (3) of subsection (b)) or the consent of the Owners of any Bonds, by a resolution of <br />this Council filed in the office of the recording officer of the City accompanied by an opinion of <br />Bond Counsel, who may rely on certificates of the City and others and the opinion may be <br />-17- <br />
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