Res16 15493 - Laserfiche WebLink

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05/23/2016 (ii) The Financing Group shall identify persons, if any, assigned to assist with the review or preparation of an Official Statement that are not members of the Financing Group ("Contributors") who: (a) shall prepare portions of the Official Statement dealing with their respective areas of expertise as such expertise relates to material information that should be disclosed in the Official Statement, (b) may have information necessary to prepare portions of the Official Statement, or (c) should review portions of the Official Statement in order to ensure that there are no misstatements or omissions of material facts. A Contributor may be another City department director and/or staff designated by that department director. Contributors should be informed by the Disclosure Coordinator of the applicable requirements of federal securities law. Resaonsibilities of Contributors. A Contributor shall assist in reviewing and preparing the Official Statement using his or her knowledge of the City and, if appropriate, by discussing the Official Statement with other members of the Contributor's department, all for the purpose of ensuring the accuracy of the relevant portions of the Official Statement. Resaonsibilities of Citv Attornev. The City Attorney, or a designee, shall review the Official Statement and shall draft for the Official Statement descriptions of: (i) any material current, pending or threatened litigation, (ii) any material settlements or court orders, and (iii) any other legal issues that are material information for purposes of the Official Statement. Responsibilities of Finance Director. The Finance Director, or designee, shall review the Official Statement, identify any material difference in presentation of financial information from the financial statements and ensure there are no misstatements or omissions of material information in any sections that contain descriptions of information prepared by the Finance Director, or the Finance Director's staff, or of relevance to the finances of the City. In addition, the Finance Director, or designee, shall determine whether the City's then-available financial statements are appropriate to be included in the Official Statement. The Finance Director shall ensure that the consent of the City's independent financial auditor is not required to include the financial statements in the Official Statement or to include in continuing disclosure filings and that, to the extent such consent is not obtained, that the appropriate disclosure regarding the lack of consent from the auditor (or performance of additional procedures by the auditor) is included in the Official Statement. The Finance Director shall submit all Preliminary Official Statements to the City Council for approval. The approval of a Preliminary Official Statement by the City Council shall be docketed as a new business matter and shall not be approved as a consent item. Each staff administrative report seeking City Council approval of a securities transaction ATTY/RE50.0044/CC RESO DEBT DISCLOSURE POLICIES AND PROCEDURES RESO.#15493 REV:OS-12-16 JS MUFF#205 Page 5 of 13