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• <br /> Section 16. Undertaking to Provide Ongoing Disclosure. <br /> A. Contract/Undertaking. This section constitutes the City's written undertaking for <br /> the benefit of the Registered Owners and Beneficial Owners of the Bonds as required by <br /> Section(b)(5) of the Rule. <br /> B. Financial Statements. The City agrees to provide or cause to be provided to each <br /> NRMSIR and to the SID, if any, in each case as designated by the Commission in accordance <br /> with the Rule, the following annual financial information and operating data for the prior fiscal <br /> year(commencing in 1998 for the fiscal year ended December 31, 1997): <br /> 1. Annual financial statements prepared in accordance with the Budget <br /> Accounting and Reporting System prescribed by the Washington State Auditor pursuant to <br /> RCW 43.09.200 (or any successor statute) and generally of the type included in the official <br /> statement for the Bonds under the heading "Comparative Statement of General Fund Revenues <br /> and Expenditures"; <br /> 2. The assessed valuation of taxable property in the City; <br /> 3. Property taxes due, property taxes collected and property taxes delinquent; <br /> 4. Property tax levy rate per $1,000 of assessed valuation; and <br /> 5. Outstanding general obligation debt of the City. <br /> Such annual information and operating data described above shall be provided on or <br /> before seven months after the end of the City's fiscal year. The City's fiscal year currently ends <br /> December 31. The City may adjust such fiscal year by providing written notice of the change of <br /> fiscal year to each then existing NRMSIR and the SID, if any. In lieu of providing such annual <br /> financial information and operating data, the City may cross-reference to other documents <br /> provided to the NRMSIR, the SID or to the Commission and, if such document is a final official <br /> statement within the meaning of the Rule, available from the MSRB. <br /> If not provided as part of the annual financial information discussed above, the City shall <br /> provide the City's audited annual financial statement prepared in accordance with the Budget <br /> Accounting and Reporting System prescribed by the Washington State Auditor pursuant to <br /> -18- DOTOM6.DOC 97/08/20 <br />