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2014-004 SAFA
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2014-004 SAFA
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Last modified
7/28/2014 5:07:05 PM
Creation date
7/28/2014 4:13:42 PM
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City Clerk
Doc Type
Resolution
Doc #
2014-004
Date
7/15/2014
Destruction Year
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information as is prescribed by the MSRB. Notwithstanding the foregoing, notice of the Listed <br />Event described in subsections (a)(7) or (b)(3) need not be given under this subsection any <br />earlier than the notice (if any) of the underlying event is given to Holders of affected Bonds <br />pursuant to the Indenture. <br />Section 6. Termination of Reporting Obligation. The City's obligations under this <br />Disclosure Agreement shall tenninate upon the defeasance, prior redemption or payment in fall <br />of all of the Bonds. <br />Section 7. Dissemination Agent. The City may, from time to time, appoint or engage a <br />Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, <br />and may discharge any such Dissemination Agent, with or without appointing a successor <br />Dissemination Agent. The Dissemination Agent may resign by providing thirty (30) days written <br />notice to the City and the Trustee. If at any time there is no designated Dissemination Agent <br />appointed by the City, or if the Dissemination Agent so appointed is unwilling or unable to <br />perform the duties of the Dissemination Agent hereunder, the City shall be the Dissemination <br />Agent and undertake or assume its obligations hereunder. <br />Section 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure <br />Agreement, the City may amend this Disclosure Agreement (and the Dissemination Agent shall <br />agree to any amendment requested by the City, provided the Dissemination Agent shall not be <br />obligated to enter into any amendment increasing or affecting its duties or obligations), and any <br />provision of this Disclosure Agreement may be waived, if such amendment or waiver is <br />supported by an opinion of counsel expert in federal securities law, acceptable to the City and the <br />Dissemination Agent, to the effect that such amendment or waiver would not, in and of itself, <br />cause the undertakings herein to violate the Rule if such amendment or waiver had been effective <br />on the date hereof but taking into account any subsequent change in or official interpretation of <br />the Rule. <br />Section 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed <br />to prevent the City from disseminating any other information, using the means of dissemination <br />set forth in this Disclosure Agreement 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 Agreement. If the City choose 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 Agreement, the City shall have no obligation <br />under this Disclosure Agreement to update such information or include it in any future Annual <br />Report or notice of occurrence of a Listed Event. <br />Section 10. Default. In the event of a failure of the City or the Dissemination Agent to <br />comply with any provision of this Disclosure Agreement, the Dissemination Agent may, and, at <br />the request of any Participating Underwriter or the Owners of at least 25% of the aggregate <br />principal amount of the outstanding Bonds, shall (but only to the extent funds in any amount <br />satisfactory to the Dissemination Agent have been provided to it or it has been otherwise <br />indemnified to its satisfaction from any cost, liability, expense or additional charges whatsoever <br />related thereto, including without limitation, fees and expenses of its attorneys), or any <br />Certificate owner may, take such actions as may be necessary and appropriate, including seeking <br />55394.00011 \8807737.1 5 <br />
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