Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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__ _____�______ _ .. Section 3.Provision of Annual Reports. (a)Delivery of Annua!Report. The City shall, or shall cause the Dissemination Agent to, not later than nine months after the end of the City's fiscal year(which currently ends on June 30), rnmmencing with the report for the 2014-15 Fiscal Year,which is due not later than March 31,2016,file with EMMA,in a readable PDF or other electronic format as prescribed by the MSRB,an Annual Report that is consistent with the requirements of Section 4 of this Disclosure Certificate.The Annual Report may be submitted as a single docvment or as separate documents comprising a package and may cross-reference other information as provided in Section 4 of this Disclosure Certificate; provided that the audited financial statements of the City may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date. (b)Change of Fisca!Year.If the City's fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(c), and subsequent Annual Report filings shall be made no later than nine months after the end of such new fiscal year end. (c)Delivery of Annua!Report to Dissemination Agent.Not later than fifteen(15)Business Days prior to the date specified in subsection(a)(or, if applicable,subsection(b))of this Section 3 for providing the Annual Report to EMMA, the City sha11 provide the Annual Report to the Dissemination Agent(if other than the City).If by such date,the Dissemination Agent has not received a copy of the Annual Report,the Dissemination Agent shall notify the City. (d) Report of Non-Compliance. If the City is the Dissemination Agent and is unable to file an Annual Report by the date required in subsection(a)(or,if applicable,subsection(b))of this Section 3,the City shall send a notice to EMMA substantially in the form attached hereto as Exhibit A.If the City is not the Dissemination Agent and is unable to provide an Annual Report to the Dissemination Agent by the date required in subsection(c)of this Section 3,the Dissemination Agent shall send a notice to EMMA in substanHally the form attached hereto as Exhibit A. (e)Annual Cornyliance Certification.'fhe Dissemination Agent shall, if the Dissemination Agent is other than the City, file a report with the City cerHfying that the Annual Report has been filed with EMMA pursuant to Section 3 of this Disclosure Certificate,stating the date it was so provided and filed. Sedion 4. Content of Annual Reports. The Annual Report shall contain or incorporate by reference the following: (a) Financial Stntements. Audited financial statements of the City for the preceding fiscal year, prepared in accordance generally accepted accounting principles. If the City's audited financial statements are not available by the time the Annual Report is required to be filed pursuant to SecNon 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement,and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. (b) Other Annual Information. To the extent not included in the audited final statements of the City, £inancial information and operating data with respect to the City and the Enterprise for the preceding fiscal year,substantially as set forth in Exhibit B hereto. {c) Cross Keferences. Any or all of the items listed in Exhibit B may be included by specific reference to other documents, inciuding official statements of debt issues of the City or related public entities, which are available to the public on EMMA. The City shall clearly identify each such other document so included by reference. (d) Further Information. In addition to any of the information expressly required to be provided under paragraph(b)of this Section 4, the City shall provide such further information, if any, as may be necessary to make the specifically required statements,in the light of the circumstances under which they are made,not misleading. -2-