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AgdaPkt 2016-05-23 Closed, Joint SA and PFA
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AgdaPkt 2016-05-23 Closed, Joint SA and PFA
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Last modified
1/25/2017 11:36:55 AM
Creation date
5/19/2016 4:03:17 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
5/23/2016
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6.3.B. - Page 15 <br /> EXHIBIT A <br /> LISTED EVENTS <br /> For securities, subject to Rule 15c2-12, issued on or after December 1, 2010, or for variable <br /> rate demand bonds that are converted from a mode currently exempted from Rule 15c2-12 to a <br /> mode not so exempted on or after December 1, 2010, the following events trigger the requirement to <br /> file on EMMA, within ten (10) business days of their occurrence, in certain cases as indicated <br /> depending on the materiality of the event (which shall be determined as provided in the Disclosure <br /> Policy for those Listed Events where it is applicable): <br /> 1. Principal and interest payment delinquencies; <br /> 2. Non-payment related defaults, if material; <br /> 3. Unscheduled draws on debt service reserves reflecting financial difficulties; <br /> 4. Unscheduled draws on credit enhancements reflecting financial difficulties; <br /> 5. Substitution of credit or liquidity providers, or the providers failure to perform; <br /> 6. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final <br /> determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material <br /> notices or determinations with respect to the tax status of the security, or material events affecting <br /> the tax-exempt status of the security; <br /> 7. Modifications to rights of security holders, if material; <br /> 8. Bond Calls, if material, and tender offers; <br /> 9. Defeasances; <br /> 10. Release, substitution or sale of property securing repayment of the securities, if material; <br /> 11. Rating changes; <br /> 12. Bankruptcy, insolvency, receivership or similar event of the obligated person; For <br /> purposes of this event, it is considered to occur when any of the following occur: The appointment of <br /> a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. <br /> Bankruptcy Code or in any other proceeding under state or federal law in which a court or <br /> governmental authority has assumed jurisdiction over substantially all of the assets or business of <br /> the obligated person, or if such jurisdiction has been assumed by leaving the existing governing <br /> body and officials or officers in possession but subject to the supervision and orders of a court or <br /> governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or <br /> liquidation by a court or governmental authority having supervision or jurisdiction over substantially <br /> all of the assets or business of the obligated person; <br /> 13. Consummation of a merger, consolidation, or acquisition involving an obligated person or <br /> the sale of all or substantially all of the assets of the obligated person, other than in the ordinary <br /> course of business, the entry into a definitive agreement to undertake such an action or the <br /> termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if <br /> material; and <br /> Page 10 of 11 <br />
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