Full Book Entry on Countywide Public Financing Authority (1996)

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FINANCIAL ADVISOR The City has retained Public Financial Management, Inc., Newport Beach, California as Financial Advisor for the sale of the Bonds. The Financial Advisor is not obligated to undertake, and has not undertaken to make, an independent verification or to assume any responsibility for the accuracy, completeness or fairness of the information contained in this Official Statement. Public Financial Management, Inc. is a full service financial advisor and is not engaged in the business of underwriting, trading or distributing municipal or other public securities. Public Financial Management, Inc. is owned and operated by its twenty (20) Managing Directors each of whom is involved in day to day client service. CONTINUING DISCLOSURE The Authority has covenanted for the benefit of holders and beneficial owners of the Bonds to provide certain financial information and operating data relating to the Bonds by not later than six months following the end of the Authority's fiscal year (which currently ends on June 30), commencing with the report for the 1996-97 fiscal year (the "Annual Report"), and to provide notices of the occurrence of certain enumerated events, if material. The Annual Report will be filed by the Authority with each Nationally Recognized Municipal Securities Information Repository, and with the appropriate State information depository, if any. The notices of material events will be filed by the Authority with the Municipal Securities Rulemaking Board (and with the appropriate State information depository, if any). The specific nature of the information to be contained in the Annual Report or the notices of material events is set forth in "APPENDIX E - Form of Authority Continuing Disclosure Certificate." These covenants have been made in order to assist the Underwriter in complying with Securities and Exchange Commission Rule 15c2- 12(b)(5) (the "Rule"). Each Member has covenanted for the benefit of holders and beneficial owners of the Bonds to provide certain financial information and operating data relating to such Member by not later than six months following the end of the Member's fiscal year (which currently ends on June 30), commencing with the report for the 1996-97 fiscal year(the "Annual Report"). The Annual Report will be filed by each Member with each Nationally Recognized Municipal Securities Information Repository,and with the appropriate State information depository, if any. The specific nature of the information to be contained in the Annual Report is set forth in "APPENDIX F- Form of Member Continuing Disclosure Certificate." These covenants have been made in order to assist the Underwriter in complying with the Rule. LITIGATION Jones Hall Hill&White, A Professional Law Corporation, as counsel to the Authority, and the City Attorney for each Member, will issue opinions in connection with the issuance of the Bonds to the effect that there is no action, suit or proceeding known to the Authority or the applicable Member, as appropriate, to be pending or threatened, restraining or enjoining the execution or delivery of the Bonds, the Indenture of the Lease Agreements, or in any way contesting or affecting the validity of the foregoing or any proceeding of the Authority or the Members taken with respect to any of the foregoing. 21