Ordinance 2311-98 - Laserfiche WebLink

Section 16. General Authorization; Ratification of Prior Acts. The Mayor, the City Administrator,the Finance Director,the City Clerk and other appropriate officers of the City are authorized to take any actions and to execute documents as in their judgment may be necessary or desirable in order to carry out the terms of, and complete the transactions contemplated by, this Ordinance. All acts taken pursuant to the authority of this Ordinance but prior to its effective date are hereby ratified. Section 17. Undertaking to Provide Ongoing Disclosure. (a) Contract/Undertaking. This section constitutes the City's written undertaking for the benefit of the owners of the Bonds as required by Section(b)(5) of the Rule. (b) Financial Statements/Operating Data. The City agrees to provide or cause to be provided to each NRMSIR and to the SID, if any, in each case as designated by the SEC in accordance with the Rule, the following annual financial information and operating data for the prior fiscal year(commencing in 1999 for the fiscal year ended December 31, 1998): 1. Annual financial statements, which statements may or may not be audited, showing ending fund balances for the City's general fund prepared in accordance with the Budget Accounting and Reporting System prescribed by the Washington State Auditor pursuant to RCW 43.09.200 (or any successor statute) and generally of the type included in the official statement for the Bonds under the heading "Comparative Statement of General Fund Revenues and Expenditures." 2. The assessed valuation of taxable property in the City; 3. Ad valorem taxes due and percentage of taxes collected; 4. Property tax levy rate per$1,000 of assessed valuation; and 5. Outstanding general obligation debt of the City. -22- scols.00c