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AgdaPkt 2020-11-23 Joint SA PFA
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AgdaPkt 2020-11-23 Joint SA PFA
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Last modified
12/3/2020 5:27:49 PM
Creation date
11/19/2020 6:20:52 PM
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CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
11/23/2020
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8.A. - Page 20 of 51 <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 />Section 10. Default. If the Participating Member fails to comply with any provision of this <br />Disclosure Certificate, the Participating Underwriter or any holder or beneficial owner of the <br />Bonds may take such actions as may be necessary and appropriate, including seeking mandate <br />or specific performance by court order, to cause the Participating Member to comply with its <br />obligations under this Disclosure Certificate. A default under this Disclosure Certificate shall not <br />be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure <br />Certificate in the event of any failure of the Participating Member to comply with this Disclosure <br />Certificate shall be an action to compel performance. <br />Section 11. Duties, Immunities and Liabilities of Dissemination Agent. <br />(a) The Dissemination Agent shall have only such duties as are specifically set forth <br />in this Disclosure Certificate, and the Participating Member agrees to indemnify and save the <br />Dissemination Agent, its officers, directors, employees and agents, harmless against any loss, <br />expense and liabilities which they may incur arising out of or in the exercise or performance of <br />its powers and duties hereunder, including the costs and expenses (including attorneys' fees) of <br />defending against any claim of liability, but excluding liabilities due to the Dissemination Agent's <br />negligence or willful misconduct. The Dissemination Agent shall have no duty or obligation to <br />review any information provided to it by the Participating Member hereunder, and shall not be <br />deemed to be acting in any fiduciary capacity for the Participating Member, the Bond holders or <br />any 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 amended <br />from time to time, and shall be reimbursed for all expenses, legal fees and advances made or <br />incurred by the Dissemination Agent in the performance of its duties hereunder. <br />Section 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of <br />the Participating Member, the Dissemination Agent, the Participating Underwriter and the <br />holders and beneficial owners from time to time of the Bonds, and shall create no rights in any <br />other person or entity. <br />Section 13. Counterparts. This Disclosure Certificate may be executed in several <br />counterparts, each of which shall be regarded as an original, and all of which shall constitute <br />one and the same instrument. <br />ATTY/AGR/2020.263/SVCW WASTEWATER REVENUE BONDS, SERIES 2021A (TAXABLE) <br />REV: 11-16-2020 EI <br />Page 5 of 7 <br />.:. <br />
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