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5.1 F�-�2 Attachment 1 C . APPENDIX C DUE DILIGENCE CHECK LIST The following is a list of due diligence documents and materials pertaining primarily to the City of Redwood City (the "City") in connection with the proposed financing (the "Bonds") secured by revenues of the City's water enterprise (the "System°). The following list is intended to be illustrative rather than all-inclusive. Up to and prior to the sale of the Bonds, you should bring to the attention of Bond Counsel and � Disclosure Counsel any information or documents that might be deemed material to the sale of the Bonds. Please have original documents available for inspection by 10:00 a.m. on ,[October /November] _, 2004. If any of the following documents are not available, advise us accordingly to discuss appropriate altematives. (1) General Documents (a) Annual reports relating to the System and other similar documents, if any, for the past 5 years. (b) A list of the dates of (and the Agendas and Minutes from) all meetings of the City Council for the past 3 years at which matters relating to the System were discussed. (c) Chart showing current organizational structure of the System. (d) A list of the names, titles and terms of office (or manner of appointment) of the management of the System, and a brief biographical statement for each. (e) All consultants' reports, studies, intemal reports, memoranda and related documents with respect to the System, including any audits or reports prepared by any State agency, department or board or any simitar audit or report and, if any, the City's responses thereto. (2) Financial Documents (a) The 2002-2003 Comprehensive Annual Financial Report of the System. (b) 2001-2002, 2000-2001 and 1999-2000 Audited Financials of the System. (c) If available, interim financial statements as of a date within the last 120 � days and as of the comparable date in the preceding fiscal year. (d) If not included in 2(a) above, auditor's management letters or other advisory letters to the City from its independent auditors with respect to the System for the past 3 years and the City's responses thereto. (e) Proposed, final and revised operating budgets for the System for the past 3 fiscal years and proposed budget for the next �scal year, or summaries thereof. Attachment 1C-Appendix C-1