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been made impossible by action of the City, or its agents, the pulrch�aser shall be liable to the City for any loss sulffered by the City by reason of the pulrch�aser's non - compliance with said terms for payment. CONTINUING DISCLOSURE On the data of actulal issulan�ce and delivery of the Bonds, the City will execulte and deliver a Con�tin�ulin�g Disclosure Undertaking (the "Un�dertakinlg"') wh�ereuln�der the City will covenant for the benefit of the own�ers of the Bonds to provide certain financial and Other information aboult the City and notices of certaini occulrren�ces to information repositories as specified in and requlired by SEC Rulle 15c2-12(b)(5). OFFICIAL STATEMENT The City has aulthiorized the preparation of an Official Statement containing pertinent information relative to the Bonds, and said Official Statement will serve as a nearly final Official Statement within the meaning of Rulle 15c2-12 of the Securities and Exchange Commission. For copies of the Official Statement or for any additional information prior to sale, any prospective pulrch�aser is referred to the Financial Advisor to the City, Sprin�gsted Incorporated, 3,80 Jackson Street, Sulite 300, Saint Paull, (Minnesota 55101, telephone (651) 223-3000. The Official Statement, when fulrth�er sulpplem�en�ted by an addendum or addenda specifying the m�atulrity dates, principal amounts and interest rates of the Bonds, together with any Other information requlired by law, shall con�stitulte a "Fin�al Official Statement" of the City with respect to the Bonds, as that term is defined in Rulle 15c2-12. By awarding the Bonds to any uln�derwriter or uln�derwritin�g syndicate sulbm�ittin�g a proposal therefor, the City agrees that, n�o more than seven bulsin�ess days after the date of such award, it shall provide with�oult cost to the senior managing uln�derwriter of the syndicate to which the Bonds are awarded 100 copies of the Official Statement and the addendum or addenda described above. The City designates the senior managing uln�derwriter of the syndicate to which the Bonds are awarded as its agent for pulrposes of distribultin�g copies of the Final Official Statement to each Participating Underwriter. Any uln�derwriter delivering a proposal with respect to the Bonds agrees thereby that if its proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a con�tractulal relationship with all Participating Underwriters of the Bonds for pulrposes of assulrin�g the receipt by each such Participating Underwriter of the Final Official Statement. 10*9111►i BY ORDER OF THE CITY COUNCIL /s/ William J. Malinen City (Manager