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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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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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7.A. - Page 95 Attachment 6 <br /> such termination occurs prior to the final maturity of the Bonds, the City shall give notice of such <br /> termination in the same manner as for a Listed Event under Section 5(c). <br /> Section S.Dissemination Agent. <br /> (a) Appointment of Dissemination Agent. The City may, from time to time, appoint or engage a <br /> Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate and may <br /> discharge any such agent, with or without appointing a successor Dissemination Agent. If the <br /> Dissemination Agent is not the City,the Dissemination Agent shall not be responsible in any manner for <br /> the content of any notice or report prepared by the City pursuant to this Disclosure Certificate. It is <br /> understood and agreed that any information that the Dissemination Agent may be instructed to file with <br /> EMMA shall be prepared and provided to it by the City. The Dissemination Agent has undertaken no <br /> responsibility with respect to the content of any reports, notices or disclosures provided to it under this <br /> Disclosure Certificate and has no liability to any person, including any Bond owner, with respect to any <br /> such reports, notices or disclosures. The fact that the Dissemination Agent or any affiliate thereof may <br /> have any fiduciary or banking relationship with the City shall not be construed to mean that the <br /> Dissemination Agent has actual knowledge of any event or condition, except as may be provided by <br /> written notice from the City. <br /> (b) Compensation of Dissemination Agent. The Dissemination Agent shall be paid compensation by <br /> the City for its services provided hereunder in accordance with its schedule of fees as agreed to between <br /> the Dissemination Agent and the City from time to time and all expenses, legal fees and expenses and <br /> advances made or incurred by the Dissemination Agent in the performance of its duties hereunder. The <br /> Dissemination Agent shall not be deemed to be acting in any fiduciary capacity for the City, owners or <br /> Beneficial Owners, or any other party. The Dissemination Agent may rely, and shall be protected in <br /> acting or refraining from acting, upon any direction from the City or an opinion of nationally recognized <br /> bond counsel. The Dissemination Agent may at any time resign by giving written notice of such <br /> resignation to the City.The Dissemination Agent shall not be liable hereunder except for its negligence or <br /> willful misconduct. <br /> (c) Responsibilities of Dissemination Agent. In addition of the filing obligations of the Dissemination <br /> Agent set forth in Sections 3(e) and 5, the Dissemination Agent shall be obligated, and hereby agrees, to <br /> provide a request to the City to compile the information required for its Annual Report at least 30 days <br /> prior to the date such information is to be provided to the Dissemination Agent pursuant to subsection(c) <br /> of Section 3. The failure to provide or receive any such request shall not affect the obligations of the City <br /> under Section 3. <br /> Section 9. Amendment; Waiver. Notwithstanding any other provision of this Disclosure <br /> Certificate, the City may amend this Disclosure Certificate (and the Dissemination Agent shall agree to <br /> any amendment so requested by the City that does not impose any greater duties or risk of liability on the <br /> Dissemination Agent), and any provision of this Disclosure Certificate may be waived,provided that all <br /> of the following conditions are satisfied: <br /> (a) Change in Circumstances. If the amendment or waiver relates to the provisions of Sections 3(a), <br /> 4 or 5(a) or (b), it may only be made in connection with a change in circumstances that arises from a <br /> change in legal requirements, change in law, or change in the identity, nature, or status of an obligated <br /> person with respect to the Bonds,or the type of business conducted. <br /> (b) Compliance as of Issue Date. The undertaking, as amended or taking into account such waiver, <br /> would, in the opinion of a nationally recognized bond counsel,have complied with the requirements of <br /> the Rule at the time of the original issuance of the Bonds, after taking into account any amendments or <br /> interpretations of the Rule,as well as any change in circumstances. <br /> (c) Consent of Holders;Non-impairment Opinion.The amendment or waiver either(i)is approved by <br /> the Bond owners in the same manner as provided in the Indenture for amendments to the Indenture with <br /> the consent of Bond owners, or (ii) does not, in the opinion of nationally recognized bond counsel, <br /> materially impair the interests of the Bond owners or Beneficial Owners. <br /> Appendix F <br /> Page 4 <br />
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