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7.0 <br /> ATTACHM��I� � <br /> material events and key credit information on all bond issues that they underwrite. To <br /> comply with this requirement, bond undenNriters, as a condition to purchasing the <br /> bonds, require issuers to provide this information to the public on an annual basis. The <br /> continuing disclosure certificate requires the City to annual collect and disseminate to <br /> the SEC and certain firms serving as national repositories information regarding bonds <br /> outstanding and fund balances, assessed valuation of parcels securing the bonds, <br /> special tax delinquency rates and information regarding deiinquent parcels, significant <br /> changes in land use entitlements relating to parcels securing the bonds, significant <br /> challenges to the development of the property comprising the project, building permits <br /> and certificates of occupancy issued for parcels in the District, copies of reports required <br /> to be filed by the District with the California Debt and Investment Advisory Commission, <br /> and the occurrence of certain significant events (all of which are listed) relating to the <br /> security provided to investors. <br /> The developer is also required to provide annual information relating to the development <br /> project until the project is completed. <br /> Official Statement — This is the City's primary disclosure document. It discloses to <br /> investors all material information relating to the making of an informed investment <br /> decision. It includes such information as the authority for the bonds, the application of <br /> bond proceeds, the nature and value of the security for the repayment of the bonds, <br /> bond owner's risks in purchasing the bonds, a description of the real estate <br /> development project to be constructed on the land securing the bonds and its location, <br /> the terms of the bonds and the rights of the owners of the bonds, the procedure for <br /> taxing property securing the bonds, complete copies of the special tax formula and the <br /> One Marina Project appraisal, and other impartant information. The preliminary official <br /> statement is used as a marketing document and is mailed to potential investors prior to <br /> the bond sale. After the bond sale all the blanks (usually relating to the final amount of <br /> bonds sold, the application of bond proceeds, the amount of the underwriter's discount, <br /> final interest rates and reoffering yields ar prices of the bonds, and the amount of debt <br /> service on the bonds) are filled in and a fina! official statement is delivered to each <br /> purchaser of the bonds. <br /> 2 <br />