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Continuing Disclosure Cerficate
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Countywide Vol. 1 Revenue Bonds (1996)
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Continuing Disclosure Cerficate
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principles on the presentation of the financial information, in order to provide information to <br /> investors to enable them to evaluate the ability of the City to meet its obligations. To the extent <br /> reasonably feasible, the comparison shall be quantitative. A notice of the change in the <br /> accounting principles shall be sent to the Municipal Securities Rulemaking Board and each State <br /> Repository with a copy to the Trustee. <br /> Section 8. Additional Information.Nothing in this Disclosure Certificate shall be deemed <br /> to prevent the City from disseminating any other information,using the means of dissemination <br /> set forth in this Disclosure Certificate or any other means of communication, or including any <br /> other information in any Annual Report or notice of occurrence of a Listed Event,in addition to <br /> that which is required by this Disclosure Certificate. If the City chooses to include any <br /> information in any Annual Report or notice of occurrence of a Listed Event in addition to that <br /> which is specifically required by this Disclosure Certificate, the City shall have no obligation <br /> under this Disclosure Certificate to update such information or include it in any future Annual <br /> Report or notice of occurrence of a Listed Event. <br /> Section 9. Default. In the event of a failure of the City to comply with any provision of <br /> this Disclosure Certificate the Trustee, at the written direction of any Participating Underwriter <br /> or the holders of at least 25%aggregate principal amount of Outstanding Bonds, shall,but only <br /> to the extent moneys or other indemnity, satisfactory to the Trustee, has been furnished to the <br /> Trustee to hold it harmless from any loss, costs, liability or expense, including fees and <br /> expenses of its attorneys and any additional fees of the Trustee, or any holder or beneficial <br /> owner of the Bonds may, take such actions as may be necessary and appropriate, including <br /> seeking mandate or specific performance by court order, to cause the City to comply with its <br /> obligations under this Disclosure Certificate. A default under this Disclosure Certificate shall <br /> not be deemed an Event of Default under the Trust Agreement, and the sole remedy under this <br /> Disclosure Certificate in the event of any failure of the City to comply with this Disclosure <br /> Certificate shall be an action to compel performance. <br /> Section 10. Duties, Immunities and Liabilities of Dissemination Agent. The <br /> Dissemination Agent and the Trustee shall have only such duties as are specifically set forth in <br /> this Disclosure Certificate, and the City agrees to indemnify and save the Dissemination Agent <br /> and the Trustee, their officers, directors, employees and agents, harmless against any loss, <br /> expense and liabilities which they may incur arising out of or in the exercise or performance of <br /> its powers and duties hereunder,including the costs and expenses (including attorneys fees) of <br /> defending against any claim of liability, but excluding liabilities due to the Dissemination <br /> Agent's or the Trustee's respective negligence or willful misconduct. The Dissemination Agent <br /> shall be paid compensation by the City for its services provided hereunder in accordance with <br /> its schedule of fees as amended from time to time and all expenses, legal fees and advances <br /> made or incurred by the Dissemination Agent in the performance of its duties hereunder. The <br /> Dissemination Agent and the Trustee shall have no duty or obligation to review any information <br /> provided to it by the City and shall not be deemed to be acting in any fiduciary capacity for the <br /> City,the Bond holders or any other party. The obligations of the City under this Section 10 shall <br /> survive resignation or removal of the Dissemination Agent and payment of the Bonds. <br /> -4- <br />
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