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1999_0125_packet
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1999_0125_packet
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Reimbursement Expenditure relates is f,first <br /> placed in service* <br /> (d) Each such reimbursement allocation will be <br /> made in a writing that evidences the City' s <br /> use of Band proceeds to reimburse the <br /> Reimbursement Expenditure and, if made within <br /> 30 days after the Bonds are issued, sha l l be <br /> treated as made on the day the Bonds are <br /> issued. <br /> Provided, however, that the City may take action contrary to any <br /> of the foregoing covenants in this paragraph 19 upon receipt of <br /> an opinion of its Bond counsel for the Bonds stating in effect <br /> that such action will not impair the tax-exempt status of the <br /> Bonds* <br /> o continuing Disclosure. The City is the sole <br /> obligated person with respect to the Bonds. The City <br /> hereby agrees, In accordance with the provisions of <br /> Rule 15c2-12 (the "Rule") , promulgated by the <br /> Securities and Exchange Commission (the "Commission") <br /> pursuant to the Securities Exchange Act of 1934 , as <br /> amended, and a Continuing Disclosure Undertaking (the <br /> "Undertaking") hereinafter described to <br /> (a) Provide or cause to be provided to each <br /> nationally recognized municipal securities <br /> information repository ( and to the <br /> appropriate state information depository ("SID") , <br /> if any, for the State of Minnesota, in each case <br /> as designated by the Commission in accordance with <br /> the Mule, certain annual financial information and <br /> operating data in accordance with the Undertaking. <br /> The City reserves the right to modify from time to <br /> time the terms of the Undertaking as provided <br /> therein. <br /> (b) Provide or cause to be provided, in a timely <br /> manner, to (i) each NRMSIR or to the Municipal <br /> Securities Rulemaking Board (11MSRB") and (ii) the <br /> SID, notice of the occurrence of certain material <br /> events with respect to the Bends in accordance <br /> with the Undertaking,, <br /> (c) Provide or cause to be provided, in a timely <br /> manner jr to (i) each NRMS IR or to the MSRB and (ii) <br /> the SID, notice of a failure by the City to <br /> provide the annual f inancial information with <br /> respect to the city described in the Undertaking. <br /> (d) The city agrees that its covenants pursuant <br /> to the Mule set forth in this paragraph 20 and in <br /> the Undertaking is intended to be for the benefit <br /> of the Holders of the Bonds and shall be <br /> enforceable on behalf of such Holders; provided <br /> 1006009.1 26 <br />
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