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Item 38 - Water Revenue Bonds
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Item 38 - Water Revenue Bonds
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5/30/2024 4:20:09 PM
Creation date
5/29/2024 6:13:54 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
38
Date
6/4/2024
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undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but <br />taking into account any subsequent change in or official interpretation of the Rule. <br />Section 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent <br />the Authority from disseminating any other information, using the means of dissemination set forth in this <br />Disclosure Agreement or any other means of communication, or including any other information in any Annual <br />Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. <br />If the Authority chooses to include any information in any Annual Report or notice of occurrence of a Listed Event <br />in addition to that which is specifically required by this Disclosure Agreement, the Authority shall have no <br />obligation under this Disclosure Agreement to update such information or include it in any future Annual Report <br />or notice of the occurrence of a Listed Event. <br />Section 10. Default. In the event of a failure of the Authority to comply with any provision of this <br />Disclosure Agreement, any Owner of a Bond, Participating Underwriters, or Trustee may take such actions as <br />may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the <br />Authority to comply with its obligations under this Disclosure Agreement. A default under this Disclosure <br />Agreement shall not be deemed a default under the Indenture, and the sole remedy under this Disclosure <br />Agreement in the event of any failure of the Authority to comply with this Disclosure Agreement shall be an <br />action to compel performance. <br />Section 11. Duties, Immunities, and Liabilities of Dissemination Agent. The Dissemination Agent <br />shall have only such duties as are specifically set forth in this Disclosure Agreement, and the Authority agrees to <br />indemnify and save the Dissemination Agent and its officers, directors, employees, and agents, harmless against <br />any loss, expense and liabilities that it may incur arising out of or in the exercise or performance of its duties <br />hereunder, including the costs and expenses (including attorneys' fees) of defending against any claim of liability, <br />but excluding liabilities due to the Dissemination Agent's negligence or willful misconduct. The obligations of <br />the Authority under this section shall survive resignation or removal of the Dissemination Agent and payment of <br />all of the Bonds. The Dissemination Agent shall not be responsible in any manner for the format or content of any <br />notice or Annual Report prepared by the Authority pursuant to this Disclosure Agreement. The Authority shall <br />pay the reasonable fees and expenses of the Dissemination Agent for its duties hereunder. <br />Section 12. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the <br />Authority, the Trustee, the Dissemination Agent, the Participating Underwriters, and Owners from time to time <br />of the Bonds, and shall create no rights in any other person or entity. <br />D-5 <br />
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