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(b) Primarv Offering Disclosure -- Official Statement. The Mayor and the
<br />Director of Finance are authorized and directed, on behalf of the City and in their official
<br />capacities, to (i) prepare or cause to be prepared, and make or authorize modifications,
<br />completions or changes of or supplements to, a disclosure document in the form of an official
<br />statement relating to the original issuance of the Bonds, (ii) determine, and to certify or
<br />otherwise represent, when the official statement is to be "deemed final" (except for permitted
<br />omissions) by the City as of its date or is a final official statement for purposes of paragraph (b)
<br />of the Rule, (iii) use and distribute, or authorize the use and distribution of those official
<br />statements and any supplements thereto in connection with the original issuance of the Bonds,
<br />and (iv) complete and sign the final official statement together with such certificates, statements
<br />or other documents in connection with the finality, accuracy and completeness of those official
<br />statements as they may deem necessary or appropriate.
<br />(c) Agreement to Provide Continuing Disclosure. For the benefit of the holders
<br />and beneficial owners from time to time of the Bonds, the City agrees, as the only obligated
<br />person with respect to the Bonds under the Rule, to provide or cause to be provided such
<br />financial information and operating data, audited financial statements and notices, in such
<br />manner, as may be required for purposes of paragraph (b)(5)(i) of the Rule. The City further
<br />agrees, in particular, to provide or cause to be provided:
<br />(i) to each NRMSIR and to the SID, (A) Annual Information for each City
<br />fiscal year ending on or after December 31, 1996, not later than the 270th day
<br />following the end of the fiscal year, and (B) when and if available, audited City
<br />financial statements for each such fiscal year; and
<br />(ii) to each NRMSIR or to the MSRB, and to the SID, in a timely manner,
<br />notice of (A) any Specified Event if that Event is material, (B) the City's failure
<br />to provide the Annual Information within the time specified above, and (C) any
<br />change in the accounting principles applied in the preparation of its annual
<br />financial statements, any change in its fiscal year, its failure to appropriate funds
<br />to meet costs to be incurred to perform the Continuing Disclosure Agreement,
<br />and of the termination of the Continuing Disclosure Agreement.
<br />In order to further describe and specify certain terms of the City's Continuing Disclosure
<br />Agreement made for purposes of the Rule in and pursuant to this ordinance and to be formed,
<br />collectively, by this subsection (c) and the Continuing Disclosure Certificate, the Mayor and the
<br />Director of Finance are authorized and directed to complete, sign and deliver the Continuing
<br />Disclosure Certificate, in the name and on behalf of the City, to specify in reasonable detail the
<br />Annual Information to be provided (which may be provided by specific reference to other
<br />documents previously filed and available in accordance with the Rule), whether the City has
<br />obtained any credit enhancement or provider for the Bonds and the City's expectations as to
<br />whether audited financial statements will be prepared, the accounting principles to be applied
<br />in their preparation, and whether they will be available together with, or separately from,
<br />Annual Information.
<br />The Mayor and the Director of Finance are further authorized and directed to
<br />establish procedures in order to ensure compliance by the City with its Continuing Disclosure
<br />Agreement, including timely provision of information and notices as described above. Prior to
<br />making any filing in accordance with clause (ii) above or providing notice of the occunence of
<br />any other events, the Mayor and the Director of Finance shall consult with and obtain legal
<br />advice from, as appropriate, the Director of Law and bond or other qualified independent special
<br />counsel selected by the City. The Mayor and the Director of Finance, acting in the name and
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<br />D03:[00523.DOCS.NOR05228]BOND_ORDINANCE FIRE_STATION_$3_440.
<br />+i . _
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