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SA_FULL PACKET_2016-07-05
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SA_FULL PACKET_2016-07-05
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Last modified
6/30/2016 5:41:03 PM
Creation date
6/30/2016 5:40:40 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
3
Date
7/5/2016
Destruction Year
2021
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5. Non- payment related defaults; <br />6. The consummation of a merger, consolidation, or acquisition involving an obligated <br />person or the sale of all or substantially all of the assets of the obligated person, other than in the <br />ordinary course of business, the entry into a definitive agreement to undertake such an action or the <br />termination of a definitive agreement relating to any such actions, other than pursuant to its terms; or <br />Appointment of a successor or additional trustee or the change of name of a trustee. <br />(c) Upon the occurrence of a Listed Event described in Section 5(a), or upon the occurrence of a <br />Listed Event described in Section 5(b) which the Issuer determines would be material under applicable federal <br />securities laws, the Agency shall within ten (10) Business Days of occurrence file a notice of such occurrence <br />with the MSRB. Notwithstanding the foregoing, notice of the Listed Event described in subsection (b)(3) need <br />not be given under this subsection any earlier than the notice (if any) of the underlying event is given to Holders <br />of affected Bonds pursuant to the Indenture. <br />SECTION 6. Format for Filings with MSRB. Any report or filing with the MSRB pursuant to this <br />Disclosure Certificate must be submitted in electronic format, accompanied by such identifying information as <br />is prescribed by the MSRB. <br />SECTION 7. Termination of Reporting Obligation. The Agency's obligations under this Disclosure <br />Certificate shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If <br />such termination occurs prior to the final maturity of the Bonds, the Agency shall give notice of such <br />termination in the same manner as for a Listed Event under Section 5(c). <br />SECTION 8. Dissemination Agent. The Agency 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 Dissemination Agent, with or without appointing a successor Dissemination Agent. The <br />Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by <br />the Agency pursuant to this Disclosure Certificate. The initial Dissemination Agent shall be the Agency. <br />SECTION 9. Amendment; Waiver. Notwithstanding any other provision of this Disclosure <br />Certificate, the Agency may amend this Disclosure Certificate, and any provision of this Disclosure Certificate <br />may be waived, provided that the following conditions are satisfied: <br />(a) If the amendment or waiver relates to the provisions of Sections 3(a), 4, 5(a) or 5(b), it <br />may only be made in connection with a change in circumstances that arises from a change in legal <br />requirements, change in law, or change in the identity, nature or status of an obligated person with <br />respect to the Bonds, or the type of business conducted; <br />(b) The undertaking, as amended or taking into account such waiver, would, in the opinion <br />of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of <br />the original issuance of the Bonds, after taking into account any amendments or interpretations of the <br />Rule, as well as any change in circumstances; and <br />(c) The amendment or waiver does not, in the opinion of nationally recognized bond <br />counsel, materially impair the interests of the Holders or Beneficial Owners of the Bonds. <br />In the event of any amendment or waiver of a provision of this Disclosure Certificate, the Agency shall describe <br />such amendment in the next Annual Report, and shall include, as applicable, a narrative explanation of the <br />reason for the amendment or waiver and its impact on the type (or in the case of a change of accounting <br />principles, on the presentation) of financial information or operating data being presented by the Agency. In <br />addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, <br />(i) notice of such change shall be given in a filing with the MSRB, and (ii) the Annual Report for the year in <br />3 -116 <br />
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