01-26-15 Agenda, Packet and Committee Meeting Notice

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execute a Continuing Disclosure Undertaking Agreement (the "Continuing Disclosure Agreement'). The Continuing Disclosure Agreement will contain certain promises of the City, including a promise to provide continuing disclosure of certain information. A copy of the Form of Continuing Disclosure Undertaking Agreement is attached to this Official Statement as APPENDIX G. The City represents that in the previous five (5) years, it has not fully complied with its previous undertakings, including but not limited to the following: (i) annual financial information were not filed on a timely basis, (ii) some operating data specified in certain undertakings were not included in filings, incorrectly filed, or not filed on a timely basis, and (iii) underlying rating changes were not consistently filed. The City makes no representation as to any potential materiality of such prior instances, as materiality is dependent upon individual facts and circumstances. The City is currently in the process of developing new procedures for ensuring future compliance with continuing disclosure reporting requirements. CONCLUDING STATEMENTS The forgoing summaries and statements in this Official Statement do not purport to be complete and are expressly made subject to the exact provisions of the complete documents. The attached Appendices are an important part of this Official Statement and should be read together with all the foregoing statements. Any statements in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended as such and are not presented as unqualified statements of fact. The information contained herein has been carefully compiled from sources deemed reliable and to the best knowledge and belief of the City there are no untrue statements nor omissions of material facts in the Official Statement which would make the statements and representations therein misleading. Certain supplemental information concerning the financial condition of the City which is exhibited hereafter is considered part of this Official Statement. The presentation of historical tax and other financial data exhibited elsewhere herein is intended to show recent trends and conditions. There is no intention to represent by such data that such trends will continue in the future, nor that any pending improvement or diminution of local conditions is indicated thereby. Crowe Horwath LLP has served as financial advisor to the City in connection with the sale of the Bonds. The financial advisor makes no representation as to the completeness or the accuracy of the information set forth in this Official Statement. Inquiries concerning information with respect to the issuance of the Bonds should be directed to said Crowe Horwath LLP, attention Herschel Frierson (317) 269 -2377 or by email at herschel.frierson(a)crowehorwath com. The execution of this Official Statement has been authorized by the City of South Bend. City Controller City of South Bend Dated 2015 Q;D