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AgdaPkt 2019-05-20 Joint SA PFA
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AgdaPkt 2019-05-20 Joint SA PFA
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Last modified
10/1/2020 3:47:20 PM
Creation date
5/16/2019 5:27:10 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
5/20/2019
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8.A. - Page 60 of 73 <br />Attachment E <br />Disclosure Certificate, and may discharge any Dissemination Agent, with or without appointing a <br />successor Dissemination Agent. The initial Dissemination Agent shall be the Participating <br />Member. Any Dissemination Agent may resign by providing 30 days' written notice to the <br />Participating Member. <br />Section 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure <br />Certificate, the Participating Member may amend this Disclosure Certificate, and any provision <br />of this Disclosure Certificate may be waived, provided that the following conditions are satisfied: <br />(a) if the amendment or waiver relates to the provisions of Sections 3(a) or 4, it may <br />only be made in connection with a change in circumstances that arises from a change in legal <br />requirements, change in law, or change in the identity, nature, or status of an obligated person <br />with respect to the Notes, or type of business conducted; <br />(b) the undertakings herein, as proposed to be amended or waived, would, in the <br />opinion of nationally recognized bond counsel, have complied with the requirements of the Rule <br />at the time of the primary offering of the Notes, after taking into account any amendments or <br />interpretations of the Rule, as well as any change in circumstances; and <br />(c) the proposed amendment or waiver either (i) is approved by holders of the Notes <br />in the manner provided in the Indenture for amendments to the Indenture with the consent of <br />holders, or (ii) does not, in the opinion of nationally recognized bond counsel, materially impair <br />the interests of the holders or beneficial owners of the Notes. <br />If the annual financial information or operating data to be provided in the Annual Report <br />is amended pursuant to the provisions hereof, the first Annual Report filed pursuant hereto <br />containing the amended operating data or financial information shall explain, in narrative form, <br />the reasons for the amendment and the impact of the change in the type of operating data or <br />financial information being provided. <br />If an amendment is made to this Disclosure Certificate modifying the accounting <br />principles to be followed in preparing financial statements, the Annual Report for the year in <br />which the change is made shall present a comparison between the financial statements or <br />information prepared on the basis of the new accounting principles and those prepared on the <br />basis of the former accounting principles. The comparison shall include a qualitative discussion <br />of the differences in the accounting principles and the impact of the change in the accounting <br />principles on the presentation of the financial information, in order to provide information to <br />investors to enable them to evaluate the ability of the Participating Member to meet its <br />obligations. To the extent reasonably feasible, the comparison shall be quantitative. <br />Section 9. Additional Information. Nothing in this Disclosure Certificate shall be <br />deemed to prevent the Participating Member from disseminating any other information, using <br />the means of dissemination set forth in this Disclosure Certificate or any other means of <br />communication, or including any other information in any Annual Report, in addition to that <br />which is required by this Disclosure Certificate. If the Participating Member chooses to include <br />any information in any Annual Report in addition to that which is specifically required by this <br />Disclosure Certificate, the Participating Member shall have no obligation under this Disclosure <br />Certificate to update such information or include it in any future Annual Report. <br />Ll <br />574 <br />
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