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6.3.B. - Page 12 <br /> The Disclosure Coordinator shall consider its review and any recommendation and <br /> advice received from officers and employees of the City and determine whether to propose a <br /> change to this Disclosure Policy. Any change to this Disclosure Policy shall be approved by <br /> resolution of the City Council. <br /> Definitions <br /> "bonds" means bonds, notes, certificates of obligation, certificates of participation, and <br /> other debt obligations or securities of the City, or the payment of which the City is <br /> obligated to support by a lease, contract, or other arrangement, that are sold to or <br /> otherwise held or traded in by the public. <br /> "Public Statement" means any statement or other communication that is intended (or <br /> reasonably can be expected) to be accessible to and relied upon by investors in the <br /> City's bonds, including, as applicable: <br /> (a) preliminary and final Official Statements and other documents by which securities are <br /> offered to the public by the City as well as solicitation statements by which the City offers <br /> to purchase its bonds or requests consents or waivers regarding bonds; <br /> (b) financial and operating data and Listed Event notices filed with the MSRB through <br /> EMMA pursuant to a continuing disclosure agreement; <br /> (c) other information filed with the MSRB through EMMA; <br /> (d) information uploaded or linked or posted to the investor information section of the <br /> City's website; and <br /> (e) press releases and other formal statements of the City that are reasonably <br /> accessible by investors and that include information that is material to the City's ability to <br /> repay its bonds in accordance with their terms. <br /> Miscellaneous <br /> This Disclosure Policy is intended for the internal use of the City only and is not intended <br /> to establish any duties in favor of or rights of any person other than the City. <br /> The officers and employees charged by this Disclosure Policy with performing or <br /> refraining from any action may depart from this Disclosure Policy when they and the Disclosure <br /> Coordinator in good faith determine that such departure is in the best interests of the City and <br /> consistent with the duties of the City under federal and state securities laws or the contractual <br /> disclosure obligations of the City. Any such departure undertaken solely by the Disclosure <br /> Coordinator shall require approval of the City Attorney. <br /> Page 7 of 11 <br />