RES 02047 - Laserfiche WebLink

(b) Whenever the City obtains knowledge of the occurrences of a Listed Event, the City shall as soon as possible detennine if such event would be material under applicable Federal Securities law. (c) If the City detennines that knowledge of the occurrence of a Listed Event would be material under applicable Federal Securities law. the City shall promptly notifY the Dissemination Agent in writing. Such notice shall instruct the Dissemination Agent to file a notice of such occurrence with the Municipal Securities Rulemaking Board and each State Repository. Notwithstanding the foregoing, notice of Listed Events described in subsections (a)(8) and (9) need not be given under this subsection any earlier than the notice (if any) of the underlying event is given to holders of affected Bonds pursuant to the Indenture. (d) If the Dissemination Agent has been instructed by the City to report the occurrence of a Listed Event, the Dissemination Agent shall file a notice of such occurrence with the Municipal Securities Rulemaking Board and each State Repository with a copy to the City. Notwithstanding the foregoing notice of Listed Events described in subsections (a)(8) and (9) need not be given under this subsection any earlier than the notice (if any) of the underlying event is given to the holders of affected Bonds pursuant to the Indenture. Section 6. Tennination of Reporting Obligation. The City's obligations under this Disclosure Agreement shall tenninate upon the legal defeasance. prior prepayment or payment in full of all of the Bonds. Section 7. Dissemination Agent. The City may. from time to time. appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement. and may discharge any such Dissemination Agent. with or without appointing a successor Dissemination Agent. If at any time there is not any other designated Dissemination Agent. the Trustee shall be the Dissemination Agent. The initial Dissemination Agent shall be U.S. Bank. N.A.. Section 8. Amendment: Waiver. Notwithstanding any other provision of this Disclosure Agreement. the City and the Trustee may amend this Disclosure Agreement (and the Trustee shall agree to any amendment so requested by the City to the extent that such amendment does not adversely atfect the Trustee). and any provision of this Disclosure Agreement may be waived. provided that the following conditions are satisfied: (a) the amendment or waiver. if it relates to annual or event infonnation to be provided. is made in connection with a change in circumstances that arises from a change in legal requirements, change in law. or change in the identity. nature. or status of the City. or type of business conducted; (b) the undertakings herein. as proposed to be amended or waived. would. in the opinion of nationally recognized bond counsel. have complied with the requirements of the Rule at the time of the primary offering of the Bonds. after taking into account any amendments or interpretations of the Rule. as well as any change in circumstances: and 4