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<br />8e <br />Page 82 <br /> <br />(a) Audited Financial Statements of the City, which shall include financial statements <br />of the City's municipal Enterprise (the "Enterprise") prepared in accordance with Generally <br />Accepted Accounting Principles as promulgated to apply to governmental entities from time to <br />time by the Governmental Accounting Standards Board. If the City's audited financial <br />statements are not available by the Report Date, the Annual Report shall contain unaudited <br />financial statements in a format similar to the financial statements contained in the final Official <br />Statement, and the audited financial statements shall be filed in the same manner as the <br />Annual Report when they become available. <br /> <br />(b) Unless otherwise provided in the audited financial statements filed on or prior to <br />the Report Date, financial information and operating data with respect to the City and the <br />Enterprise for the preceding fiscal year, substantially as set forth in Exhibit B hereto. <br /> <br />Any or all of the items fisted in Exhibit B may be included by specific reference to other <br />documents, including official statements of debt issues of the City or related publiC entities, <br />which have been submitted to each of the Repositories or the Securities and Exchange <br />Commission. If the document included by reference is a final official statement, it must be <br />available from the Municipal Securities Rulemaking Board. The City shall clearly identify each <br />such other document so included by reference. <br /> <br />(c) In addition to any of the information expressly required to be provided under this <br />Disclosure Certificate, the City shall provide such further material information, if any, as may be <br />necessary to make the specifically required statements, in the light of the circumstances under <br />which they are made, not misleading. <br /> <br />Section 5. ReDortinq of Siqnificant Events. <br /> <br />(a) The City shall give, or cause to be given, notice of the occurrence of any of the <br />following events with respect to the Bonds, if material: <br /> <br />(I) Principal and interest payment delinquencies. <br />(ii) Non-payment related defaults. <br />(iii) Unscheduled draws on debt service reserves reflecting financial <br />difficulties. <br />(iv) Unscheduled draws on credit enhancements reflecting financial <br />difficulties. <br />(v) Substitution of credit or liquidity providers, or their failure to perform. <br />(vi) Adverse tax opinions or events affecting the tax-exempt status of the <br />security. <br />(vii) Modifications to rights of Bond holders. <br />(viii) Contingent or unscheduled redemption of Bonds. <br />(ix) Defeasances. <br />(x) Release, substitution, or sale of property securing repayment of the <br />securities. <br />(xi) Rating changes. <br /> <br />(b) Whenever the City obtains knowledge of the occurrence of a Listed Event, the <br />City shall as soon as possible determine if such event would be material under applicable <br />Federal securities law. <br /> <br />D.3 <br />