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63 <br />The City has entered into a number of continuing disclosure undertakings in connection <br />with City obligations, including obligations payable from the City’s General Fund, as well as <br />obligations payable from the revenues relating to the Enterprise. During the past five years, the <br />City has prepared continuing disclosure reports pursuant to these undertakings. During the past <br />five years, the City’s instances of non-compliance with its continuing disclosure undertakings are: <br />failing to file a notice of underlying credit rating increase related to the Refunded Bonds, the 2015 <br />Bonds, and the 2017 Bonds; failing to file certain operating data for Fiscal Years 2021-22 and <br />2022-23 related to certain wastewater revenue bonds of Silicon Valley Clean Water (“SVCW”) <br />issued in 2021; failing to file the audited financial reports for Fiscal Years 2020-21, 2021-22, and <br />2022-23 with respect to certain lease revenue bonds of the Redwood City Public Facilities and <br />Infrastructure Authority (“RCPFIA”) issued in 2021; failing to file the audited financial report for <br />Fiscal Year 2021-22 with respect to the Refunded Bonds, the 2015 Bonds, and the 2017 Bonds; <br />failing to file the audited financial report for Fiscal Year 2022-23 related to certain bonds of SVCW <br />and RCPFIA issued in 2021; filing the audited financial reports for Fiscal Years 2021-22 and 2022- <br />23 between 17 and 306 days late related to the Refunded Bonds, 2015 Bonds, 2017 Bonds, and <br />certain bonds of SVCW and RCPFIA; and not filing notices of failure to file with respect to the <br />foregoing. The City has [completed remedial filings as necessary and] adopted a disclosure policy <br />intended to assure future compliance with the City’s continuing disclosure requirements. <br />MUNICIPAL ADVISOR <br />William Euphrat Municipal Finance, Inc. (the “Municipal Advisor”) has assisted the City <br />with various matters relating to the planning, structuring and delivery of the Bonds. The Municipal <br />Advisor is a financial advisory firm and is not engaged in the business of underwriting or <br />distributing municipal securities or other public securities. The Municipal Advisor assumes no <br />responsibility for the accuracy, completeness or fairness of this Official Statement. The Municipal <br />Advisor will receive compensation from the City contingent upon the sale and delivery of the <br />Bonds. <br />UNDERWRITING <br />The Bonds are being purchased by Stifel, Nicolaus & Company, Incorporated (the <br />“Underwriter”), at a purchase price of $________ (which represents the aggregate principal <br />amount of the Bonds ($________), plus an original issue premium/less an original issue discount <br />of $_________, less an Underwriter's discount of $________). <br />The purchase agreement relating to the Bonds provides that the Underwriter will purchase <br />all of the Bonds, if any are purchased, the obligation to make such purchase being subject to <br />certain terms and conditions set forth in such purchase agreement. <br />The Underwriter may offer and sell the Bonds to certain dealers and others at prices lower <br />than the offering prices stated on the inside cover page hereof. The offering prices may be <br />changed from time to time by the Underwriter. <br />VERIFICATION OF MATHEMATICAL COMPUTATIONS <br />Upon delivery of the Bonds, Causey Demgen & Moore P.C., independent certified public <br />accountants, will deliver a report stating that the firm has verified the mathematical accuracy of <br />8.A. - Page 77 of 255 <br />705