1998-10-19 Resolution 130 - Laserfiche WebLink

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conditions will successfully be identified and resolved or that the Y2K Problem will not affect • the Authority and the City or any other entity. CONTINUING DISCLOSURE Pursuant to continuing disclosure requirements promulgated by the Securities and Exchange Authority in SEC Rule 15c2-12, as amended (the "Rule'), the Authority will enter into a Continuing Disclosure Undertaking Agreement (the "Undertaking"), to be dated the date of initial delivery of the Refunding Bonds, with Norwest Bank Indiana, N.A., as Counterparty. Pursuant to the terms of the Undertaking, the Authority will agree to provide the following information while any of the Bonds are outstanding: Audited Financial Statements. To each nationally recognized municipal securities information repository ("NRMSIR") then in existence and to the Indiana state information depository then in existence, if any ("SID"), when and if available, the audited financial statements of the City for such twelve (12) month or twenty-four (24) month period, beginning with the twelve (12) month period ending December 31,1998 together with the auditor's report and all notes thereto, within sixty days of receipt from the State Board of Accounts; and Financial Information in this Official Statement. To each NRMSIR then in existence and to the SID, within 180 days of each December 31, beguining with the calendar year ending December 31, 1998, unaudited annual financial information, including operating data of • the type provided under the following headings in Appendix B of this Official Statement (collectively, the "Annual Information'). Appendix B Direct Debt and Overlapping Debt Direct Debt Issuance Limitation Record of Taxes Levied and Collected Assessed Valuation Largest City Taxpayers Total Tax Rates Event Notices In a timely manner, to each NRMSIR or to the Municipal Securities Rulemaking Board (MSRB) and to the SID, notice of certain events listed in the Rule, if material with respect to the Bonds (which determination of materiality shall be made by the Authority). Failure to Disclose In a timely manner, to each NRMSIR or to the MSRB and to the SID, notice of the Authority failing to provide the annual financial information as described above. The Authority and the Counterparty may, from time to time, amend or modify the Undertaking without the consent of or notice to the owners of the Refunding Bonds if either (a) (i) such amendment or modification is made ixi 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 Authority, or type of business conducted; (ii) the Undertaking, as so amended or modified, would have complied with the requirements of the Rule on the date of execution of the Undertaking, after taking into account any amendments or interpretations of the Rule, as -19-