Ord 2015-018/Lasalle MUD amendements

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regarding such issuance, the District or resulting district shall promptly provide such information at no cost to the City. Section 6.05. Compliance with Agreements. At least thirty (30) days before issuance of Bonds, the District and any resulting district shall certify in writing that it is in substantial compliance with the consent resolution approved by the city council, the consent agreement, and to the extent such agreements impose requirements on the District, with the consent agreement and all other agreements executed by the City and the District and shall promptly deliver such certification to the City Manager, and City Clerk. Section 6.06. Certifications. With respect to any matter required by this Article VI to be certified in writing, the Agreement also requires, and the District and any resulting district hereby warrants, that every statement in any certification shall be true and correct in all material respects and that the person signing the certification has been given the requisite authority to do so on behalf of such district. Section 6.07. Tax Rate. The District's and any resulting district's Tax Rate will approximate but not be less than the City's tax rate. Section 6.08. Notice of Tax Rate. The District and any resulting district shall send a copy of the order or other action setting an ad valorem tax rate to the City Manager, and City Clerk within thirty (30) days after District's adoption of the rate. Additional Requirements relating to Bonds: The District shall provide copies of any material event notices filed under applicable federal securities laws or regulations to the city manager and city attorney within thirty (30) days after filing such notices with the applicable federal agency. Before the District issues bid invitations for its bonds, the city council shall have the right of review of all bond issues and sales, including bond prices, interest rates and redemption premiums, and copies of all documents submitted to state agencies shall be concurrently submitted to the City. Provided, however, that the city council must provide any comments within 30 days of receiving the bid invitations. No bond funds shall be expended or bonds issued to provide service outside the District boundaries without the prior consent of the City Council. The District shall prepare for and submit to the City annual reports on the status of construction and bond sales. ARTICLE VII TERM, ASSIGNMENT AND REMEDIES Section 7.01. Term. a. As between the City and the Developer, the term of this Agreement will commence on the Effective Date and continue for 20 years thereafter, unless terminated on an earlier date under other provisions of this Agreement or by written agreement of the City and the Developer. Upon the expiration of 20 years, this Agreement may be extended, at the Developer's request and with City Council approval, for up to two successive ten -year periods. 0