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