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Section 18. Undertaking to Provide Ongoing Disclosure. <br /> A. Contract/Undertaking. This section constitutes the City's written undertaking for <br /> the benefit of the owners and Beneficial Owners of the Bonds as required by Section (b)(5) of the <br /> Rule. <br /> B. Financial Statements/Operating Data. The City agrees to provide or cause to be <br /> provided to each NRMSIR and to the SID, if any, in each case as designated by the Commission <br /> in accordance with the Rule, the following annual financial information and operating data for the <br /> prior fiscal year (commencing in 1998 for the fiscal year ended December 31, 1997): <br /> 1. Annual financial statements showing ending fund balances for the System <br /> prepared in accordance with generally accepted accounting principles applicable to government <br /> entities (and modified as may be required 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 "City of Everett Water and Sewer Utilities, Historical <br /> Operating Results;" and <br /> 2. The outstanding long-term indebtedness of the System identifying <br /> separately Parity Bonds and all other debt of the System, and stating debt coverage ratio. <br /> Item 2 shall be required only to the extent that such information is not included in the <br /> information provided pursuant to item 1 above. <br /> Such annual financial information and operating data described above shall be provided on <br /> or 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 NRMSIRs and the SID, or filed with the Commission and, if such document is a <br /> final official 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 generally <br /> -38- FWWOBU.DOC 97/03/04 <br />