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6.3.B. - Page 7 <br /> Disclosure Coordinator <br /> The Disclosure Coordinator is selected from time to time by the City Manager. <br /> At the present time, the Assistant City Manager/Administrative Services Director of the <br /> City shall be the Disclosure Coordinator of the City. The Disclosure Coordinator shall be <br /> responsible for: <br /> i. Providing final approval for dissemination of financial statements (including the <br /> City's Comprehensive Annual Financial Reports ("CAFRs")), official statements <br /> with respect to bonds of the City, continuing disclosure annual reports, and Listed <br /> Event notices as having been reviewed for completeness and accuracy of the <br /> information presented therein. <br /> ii. Coordinating the preparation of disclosure offering documents and ensuring <br /> complete and accurate disclosure of material information regarding the City's <br /> finances, the revenues source securing the bonds to be issued by the City, the <br /> project to be financed with such securities, and any other information deemed <br /> material by the Financing Group established for the issuance of such bonds. The <br /> Disclosure Coordinator shall be entitled to rely on the advice of the City Attorney, <br /> bond counsel, disclosure counsel, municipal advisors and underwriters in making <br /> a determination as to what information is material to making an informed <br /> investment decision in the securities to which the disclosure offering document <br /> relates. Advice of counsel may help to establish that the City exercised <br /> reasonable care, but is not a defense to an action where a material fact was not <br /> discussed with or misstated to counsel. <br /> iii. Arranging disclosure training for all City Council members, and periodic <br /> disclosure training for City finance division staff tasked with participating in public <br /> securities offerings, City finance division staff tasked with monitoring outstanding <br /> bonds and other securities or fulfilling the City's continuing disclosure obligations, <br /> and coordinating with other City department directors for the disclosure training <br /> of other City staff who participate in preparation of disclosure information for <br /> public securities offerings. <br /> iv. Establishing procedures to ensure the timely preparation, review and filing of <br /> continuing disclosure annual reports, including the City's CAFR. The current <br /> continuing disclosure filing procedures are set forth in Attachment 1. <br /> v. Establishing a procedure for ensuring that other information that is reasonably <br /> expected to reach investors and the marketplace for the City's securities, such as <br /> certain information posted on the City's website, is reviewed so that such <br /> information meets the Rule 10b-5 standard. The current procedures for public <br /> statements of the City are set forth below under "Public Statements Regarding <br /> Information Material to City Bond Issues." <br /> vi. Monitoring compliance by the City with these Disclosure Policies and updating <br /> these Disclosure Policies, as necessary or appropriate. <br /> Page 2 of 11 <br />