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City of Santa Ana, California <br />Proposal for Municipal Financial Advisory Services March 12, 2020 <br />dividends for subsequent bond sales. <br />Activity 4: Post -Issuance Compliance <br />As a function of providing municipal advisory services, UFI reviews the Continuing Disclosure Agreements <br />and Bond Indentures for every Bond Issuance at the very beginning of the financing process. This ability <br />to work with the financing team to draft the Continuing Disclosure Agreement is key, as we ensure it is <br />formed in a manner that strikes the balance between providing pertinent information to investors versus <br />minimizing the administrative burden on City staff. It is also another way that we can provide nimble and <br />cost-effective service to the City. In addition to our experience in drafting such documents, the firm has <br />adopted a practice of reviewing each and every Continuing Disclosure Agreement on an annual basis. This <br />practice ensures that each report is being prepared in accordance with the bond's disclosure obligations. <br />Our approach to continuing disclosure and dissemination agent services is described further below. <br />Approach to Dissemination Agent Services Scope of Services <br />Investors, underwriters, bond counsel, the Municipal Securities Rulemaking Board (MSRB), and the U.S. <br />Securities and Exchange Commission (SEC) demand the most current and accurate issuer information. <br />UFI's comprehensive approach will provide updated financial information and mandatory disclosures to <br />municipal market participants on a regular basis. We offer a mix of services that ensure the City is, and <br />remains in, full compliance with mandatory continuing disclosure covenants and other requirements. <br />Urban Futures has two staff members 100% dedicated to managing the continuing disclosure and <br />dissemination agent needs of our clients. We have over 20 years of experience providing continuing <br />disclosure and dissemination agent services, and we currently serve over 200 public agency clients with <br />the preparation of over 400 reports annually. We have extensive experience covering every type of credit, <br />including General Obligation Bonds, Lease Revenue Bonds, Enterprise Fund Bonds, Tax Allocation Bonds, <br />Community Facilities Districts, and Pension Obligation Bonds. We have provided continuing disclosure <br />services to the City since 2014. <br />Continuing Disclosure Scope of Services - The scope of services for on -going continuing disclosure and <br />dissemination agent services includes: <br />• Database of CD Requirements: UFI maintains and continues to develop a Microsoft Access -based <br />database to monitor, track, and review reporting and filing requirements as outlined in Continuing <br />Disclosure Agreements and other bond documents. As such, we are already set up to continue <br />tracking the City's bond issues in the database. <br />• Assembly and Review of CD Reports: The annual reports will be assembled in conformance with <br />the Continuing Disclosure Agreements and the MSRB. Preparation of analytical tables required <br />for the annual reports will be developed in-house. City staff will be given ample time to review <br />the reports before posting and sending to the trustee(s). <br />• Meeting with Citystaff: UFI will meet in -person with City staff as often as is necessary to complete <br />continuing disclosure requirements. <br />• Filing the Annual Reports: UFI will act as the Dissemination Agent to ensure all disclosure <br />documents are filed on MSRB's Electronic Municipal Market Access ("EMMA") correctly and in a <br />timely manner. <br />• Final Copies of CD Reports: Upon completion of each step detailed above, UFI will also send hard <br />copies of the final reports to the City. <br />VUH 14 <br />i uinni I.nu 'tl.n.. 25F-33 <br />