Ord 2002-054 - Laserfiche WebLink

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Section 13.02. Annual Information. (a) The City shall annually update, within six months after the end of each fiscal year ending in or after September 30, financial information and operating data with respect to the City of the general type included in the final Official Statement authorized by Section 7.01(b) of this Ordinance, being the information described in Exhibit A hereto, and upon request furnish such information to the party making a request therefor; provided, however, that the City reserves the right at any time to commence making filings of such information with any SID in lieu of providing such information upon request. Financial statements to be provided shall be (1) prepared in accordance with the accounting principles described in Exhibit A hereto and (2) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If the audit of such financial statements is not complete within such period, then the City shall provide unaudited financial statements by the required time and shall provide audited financial statements for the applicable fiscal year, when and if the audit report on such statements becomes available. (b) The financial information and operating data to be provided pursuant to this Section may be set forth in full in one or more documents or may be included by specific reference to any document (including an official statement or other offering document, ifit is available from the MSRB) that theretofore has been provided to each NRMSIR and any SID or filed with the SEe. (c) If the City changes its fiscal year, it will notify each NRMSIR and any SID of the change (and the date of the new fiscal yearend) prior to the next date by which the City otherwise would be required to provide financial information and operating data pursuant to this Section. Section 13.03. Material Event Notices. The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any of the following events with respect to the Bonds, if such event is material within the meaning of the federal securities laws: (i) Principal and interest payment delinquencies; (ii) Non-payment related defaults; (iii) Unscheduled draws on debt service reserves reflecting financial difficulties; (iv) Unscheduled draws on credit enhancements reflecting financial difficulties; (v) Substitution of credit or liquidity providers, or their failure to perform; (vi) Adverse tax opinions or events affecting the tax-exempt status of the Bonds; (vii) Modifications to rights of holders of the Bonds; (viii) Bond calls; (ix) Defeasances; R:ISan Marcos\EUS Rfdg.02IDocs\OrdinanceIFinaJ.wpd 40