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AgdaPkt 2013-05-20 Closed Cancelled and Special
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AgdaPkt 2013-05-20 Closed Cancelled and Special
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Last modified
5/30/2013 3:32:59 PM
Creation date
5/16/2013 3:56:45 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Public Finance Authority
Date
5/20/2013
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Atta 7.A. - Page 94 <br /> Section 5.Re�orting of Listed Events. <br /> (a) Reportable Events. The City shall, or shall cause the Dissemination Agent (if not the City) to, <br /> give notice of the occurrence of any of the following events with respect to the Bonds: <br /> (1) Principal and interest payment delinquencies. <br /> (2) Unscheduled draws on debt service reserves reflecting financial difficulties. <br /> (3) Unscheduled draws on credit enhancements reflecting financial difficulties. <br /> (4) Substitution of credit or liquidity providers,or their failure to perform. <br /> (5) Defeasances. <br /> (6) Rating changes. <br /> (7) Tender offers. <br /> (S) Bankruptcy,insolvency,receivership or similar event of the obligated person. <br /> (9) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed <br /> or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701- <br /> TEB) or other material notices or determinations with respect to the tax status of <br /> the security,or other material events affecting the tax status of the security. <br /> (b)Material Reportable Events. The City shall give,or cause to be given,notice of the occurrence of <br /> any of the following events with respect to the Bonds,if material: <br /> (1) Non-payment related defaults. <br /> (2) Modifications to rights of security holders. <br /> (3) Bond calls. <br /> (4) The release,substitution,or sale of property securing repayment of the securities. <br /> (5) The consummation of a merger, consolidation, or acquisition involving an <br /> obligated person or the sale of all or substantially all of the assets of the obligated <br /> person, other than in the ordinary course of business, the entry into a definitive <br /> agreement to undertake such an action or the termination of a definitive <br /> agreement relating to any such actions,other than pursuant to its terms. <br /> (6) Appointment of a successor or additional trustee, or the change of name of a <br /> trustee. <br /> (c) Time to Disclose. The City shall,or shall cause the Dissemination Agent(if not the City)to,file a <br /> notice of such occurrence with EMMA, in an electronic format as prescribed by the MSRB, in a timely <br /> manner not in excess of 10 business days after the occurrence of Any Listed Event. Notwithstanding the <br /> foregoing, notice of Listed Events described in subsections (a)(5) and (b)(3) above need not be given <br /> under this subsection any earlier than the notice (if any) of the underlying event is given to owners of <br /> affected Bonds under the Indenture. <br /> Section 6. Identife�� Information for Filin�s with EMMA. All documents provided to EMMA <br /> under this Disclosure Certificate shall be accompanied by identifying information as prescribed by the <br /> MSRB. <br /> Section 7. Termination of Re�orting Obligation. The City's obligations under this Disclosure <br /> Certificate shall terminate upon the defeasance,prior redemption or payment in full of all of the Bonds.If <br /> Appendix F <br /> Page 3 <br />
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