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AgdaPkt 2018-01-22 Joint SA PFA
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AgdaPkt 2018-01-22 Joint SA PFA
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Last modified
1/24/2018 12:26:31 PM
Creation date
1/18/2018 1:21:49 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
1/22/2018
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8.A. - Page 34 <br />ability of the Participating Member to meet its obligations. To the extent reasonably <br />feasible, the comparison shall be quantitative. <br />A notice of any amendment made pursuant to this Section shall be filed in the <br />same manner as for a Listed Event under Section 6. <br />Section 9. Additional Information. Nothing in this Disclosure Certificate shall be <br />deemed to prevent the Participating Member from disseminating any other information, <br />using the means of dissemination set forth in this Disclosure Certificate or any other <br />means of communication, or including any other information in any Annual Report or <br />notice of occurrence of a Listed Event, in addition to that which is required by this <br />Disclosure Certificate. If the Participating Member chooses to include any information in <br />any Annual Report or notice of occurrence of a Listed Event in addition to that which is <br />specifically required by this Disclosure Certificate, the Participating Member shall have <br />no obligation under this Disclosure Certificate to update such information or include it in <br />any future Annual Report or notice of occurrence of a Listed Event. <br />Section 10. Default. If the Participating Member fails to comply with any <br />provision of this Disclosure Certificate, the Participating Underwriter or any holder or <br />beneficial owner of the Bonds may take such actions as may be necessary and <br />appropriate, including seeking mandate or specific performance by court order, to cause <br />the Participating Member to comply with its obligations under this Disclosure Certificate. <br />A default under this Disclosure Certificate shall not be deemed an Event of Default under <br />the Indenture, and the sole remedy under this Disclosure Certificate in the event of any <br />failure of the Participating Member to comply with this Disclosure Certificate shall be an <br />action to compel performance. <br />Section 11. Duties, Immunities and Liabilities of Dissemination Aqent. <br />(a) The Dissemination Agent shall have only such duties as are specifically set <br />forth in this Disclosure Certificate, and the Participating Member agrees to indemnify and <br />save the Dissemination Agent, its officers, directors, employees and agents, harmless <br />against any loss, expense and liabilities which they may incur arising out of or in the <br />exercise or performance of its powers and duties hereunder, including the costs and <br />expenses (including attorneys' fees) of defending against any claim of liability, but <br />excluding liabilities due to the Dissemination Agent's negligence or willful misconduct. <br />The Dissemination Agent shall have no duty or obligation to review any information <br />provided to it by the Participating Member hereunder, and shall not be deemed to be <br />acting in any fiduciary capacity for the Participating Member, the Bond holders or any <br />other party. The obligations of the Participating Member under this Section shall survive <br />resignation or removal of the Dissemination Agent and payment of the Bonds. <br />(b) The Dissemination Agent shall be paid compensation by the Participating <br />Member for its services provided hereunder in accordance with its schedule of fees as <br />amended from time to time, and shall be reimbursed for all expenses, legal fees and <br />advances made or incurred by the Dissemination Agent in the performance of its duties <br />hereunder. <br />Section 12. Beneficiaries. This Disclosure Certificate shall inure solely to the <br />benefit of the Participating Member, the Dissemination Agent, the Participating <br />-5- <br />
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