Ord 2012-014 - Laserfiche WebLink

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. In connection with the sale of the Bonds, the Section 14. INSURANCE PROVISIONS City may obtain municipal bond insurance policies from one or mocognized municipal bond insurance organizations (the "Bond Insurer" or "Bond Insurers") to guarantee the full and complete payment required to be made by or on behalf of the City on the Bnds. The Pricing Officer is hereby authorized to sign a commitment letter with the Bond Insurer or Insurers and to pay the premium for the bond insurance policies at the time of the delivf the Bonds to the underwriter out of the proceeds of sale of the Bonds or from other available and to execute such other documents and certificates as necessary in connection with the bance policies as the Pricing Officer may deem appropriate. Printing on the Bonds covered by bond insurance policies a statement describing such insurance, in form and substance satisfactory to the Bond Insurer and the Pricing Officer, is hereby approved and authorized. The Pricing Certificate may contain provisions related to the bond insurance policies, including payment provishereunder, and the rights of the Bond Insurer or Insurers, and any such provisions shall be read d interpreted as an integral part of this Ordinance. . Section15. [RESERVED] . (a) Annual Reports. The Section16. CONTINUING DISCLOSURE UNDERTAKING City shall provide annually to the MSRB, in an electronic format as prescribed by the MSRB, within six months after the end of any fiscal year, financial information and operating data with respect to the City as determined by the Pricing Officer at the time the Bonds are sold. The Pricing Certificate shall specify such financial information and operating data of teral type included in the final Official Statement authorized by Section 16 of this Ordinance. ny financial statements to be so provided shall be (1) prepared in accordance with the accountinginciples described in Exhibit "B" hereto, or such other accounting principles as the City may be required to employ from time to time pursuant to state law or regulation, and (2) audited, if the Cits an audit of such statements and the audit is completed within the period during wch 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 within such period, and audited financial statements for the applicable fiscal year to the MSRB, when and if the audit report on such stecome available. If the City changes the fiscal year, the City will notify the MSRB of the change (and of the date of the new fiscal year end) prior to the next date by whichCity otherwise would be required to provide financial information and operating data pursuant to ection. The financial information and operating data to be provided purso this subsection may be set forth in full in one or more documents or may be included by specific reference to any document that is available to the public on the MSRB's internet web site or filed with the SEC. All documents provided to the MSRB pursuant to this subsection shall be accompanied by identifying information as prescribed by the MSRB. (b) Certain Event Notices. The City shall notify the MSRB, in actronic format as prescribed by the MSRB, in a timely manner not in excess of ten business days after the occurrence of the event, of any of the following events with respect to thends: 25 San Marcos GORB 2012 - Delegated: Ordinance