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<br />CONTINUING DISCLOSURE <br /> <br />Undertaking to Provide Continuing Disclosure. In order to assist bidders in complying with SEC <br />Rule 15c2-12, as amended, the City will covenant to undertake pursuant to a Resolution to be <br />adopted by the City Council, to provide specified information if customarily prepared and <br />publicly available and timely notice of certain events for the benefit of holders of the Bonds. The <br />details and terms of the undertaking are set forth in a Continuing Disclosure Certificate to be <br />execut"ed and delivered by the City, a form of which is included in the Official Statement. <br /> <br />OFFICIAL STATEMENT <br /> <br />The City has authorized the preparation of an Official Statement containing pertinent <br />information relative to the Bonds, and said Official Statement will serve as a nearly-final Official <br />Statement as required by Rule 15c2-12 of the Securities and Exchange Commission. The Official <br />Statement, when further supplemented by an addendum or addenda specifying the interest rates <br />of the Bonds, together with any other information required by law, will constitute a Final Official <br />Statement of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. By <br />awarding the Bonds to any underwriter or underwriting syndicate submitting an official Bid Form <br />therefore, the City agrees that, no more than seven business days after the date of such award, <br />it will provide without cost to the senior managing underwriter of the syndicate to which the <br />Bonds are awarded 50 copies of the Official Statement and the addenda described above. The <br />City designates the senior managing underwriter of the syndicate to which the Bonds are awarded <br />as its agent for purposes of distributing copies of the Final Official Statement to each <br />Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with <br />respect to the Bonds agrees thereby that if its bid is accepted by the City (i) it will accept such <br />designation and (ii) it will enter into a contractual relationship with all Participating Underwriters <br />of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the <br />Final Official Statement. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />Isl Steven R. Sarkozv <br />City Manager <br /> <br />Dated: January 27, 1997. <br /> <br />DJK1l6619 <br />RS200-19 <br />