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or cause to be delivered, within seven business days from the date of the sale of the Bonds and in <br /> sufficient time to accompany any confirmation that requests payment from any customer of the <br /> purchaser for the Bonds, copies of a final official statement in sufficient quantity to comply with <br /> paragraph(b)(4) of the Rule and the rules of the MSRB. <br /> SECTION 20. Assessed Value and Existing Bonded Debt The actual value of the taxable <br /> property within the City as ascertained by the last preceding assessment for City purposes is <br /> $6,378,914,470. The principal amount of the outstanding nonvoted general obligation <br /> indebtedness of the City including lease purchase obligations and general obligation bonds is <br /> $36,885,000, as of July 31, 1995. The issuance of the Bonds in the principal amount of not to <br /> exceed $18,500,000 will not cause the City to exceed any statutory or constitutional debt limits. <br /> SECTION 21. Undertaking to Provide Ongoing Disclosure. <br /> A. Contract/Undertaking. This section constitutes the City's written undertaking for <br /> the benefit of the owners of the Bonds as required by Section (b)(5) of the Rule. This section <br /> may be revised in the resolution to be adopted by the Council accepting the winning bid. <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 1997 for the fiscal year ended December 31, 1996): <br /> 1. Annual financial statements showing ending fund balances prepared in <br /> accordance with the Budget Accounting and Reporting System prescribed by the Washington <br /> State Auditor pursuant to RCW 43.09.200 (or any successor statute) and generally of the type <br /> included in the official statement for the Bonds under the table "General Fund Operating <br /> Statement"; <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 /> -24- J:WWWWHOME 03N3cx.DOc <br />