2012-06-01 - Laserfiche WebLink

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• "Beneficial Owner" of a Bond shall mean any person who has or shares the power, directly or indirectly, to make investment decisions concerning ownership of any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). "Dissemination Agent" shall mean the Trustee, acting in its capacity as Dissemination Agent, or any successor Dissemination Agent designated in writing by the City and which has filed with the Trustee a written acceptance of such designation. "EMMA" shall mean the Electronic Municipal Market Access System as described in 1934 Act Release No. 59062 and maintained by the MSRB for purposes of the Rule. "Listed Events" shall mean any of the events listed hereunder. "MSRB" shall mean the Municipal Securities Rulemaking Board. "Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. Provision of Annual Report. (a) The City shall, or cause the Dissemination Agent to, not later than one hundred ei*hty (180) days after the end of the City's fiscal year (presently December 31), commencing with the report after the end of the 2012 fiscal year, provide to the MSRB, through its continuing disclosure service portal provided through EMMA at http://www.emma.msrb.org or any similar system acceptable to the Securities and Exchange Commission, an Annual Report which is consistent with the requirements of the Continuing Disclosure Agreement. The Annual Report shall be in electronic format as prescribed by the MSRB and shall be accompanied by identifying information as prescribed by the MSRB. The • Annual Report may be submitted as a single document or as separate documents comprising a package and may cross-reference other information as provided in the Continuing Disclosure Agreement; provided that the audited financial statements of the City may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date, but, in such event, such audited financial statements shall be submitted within thirty(30) days after receipt thereof by the City. If the City's fiscal year changes, it shall give notice of such change in the manner as for a Listed Event. (b) Not later than fifteen(15) business days prior to the date specified in subsection (a) for providing the Annual Report to the MSRB, the City shall provide the Annual Report to the Dissemination Agent and the Trustee (if the Trustee is not the Dissemination Agent). If by such date, the Trustee has not received a copy of the Annual Report,the Trustee shall contact the City and the Dissemination Agent to determine if the City is in compliance with the first sentence of this subsection(b). (c) If the Trustee is unable to verify that an Annual Report has been provided to the MSRB by the date required in subsection(a),the Trustee shall send a notice to the MSRB. Content of Annual Reports. The City's Annual Report shall contain or incorporate by reference the following: (a) Information of the type set forth in this Official Statement (a) under the captions THE CITY AND THE COUNTY with respect to (i) City and County population in the latest year for which available and the four(4) previous years for which figures are available; and (ii) unemployment rates in the latest year for which available and the four(4)previous years. (b) Tax receipts for the latest calendar year and the four (4) previous years, if • available. 18