2012/09/05 Council Agenda Packet

8 expenses of underwriter and other retained services, includingBond Counsel, financial advisor, rating agencies, fiscal agency, escrow agent, verification agent, and other expenses customarily incurred in connection with issuance and sale of bonds. The disbursement of Bond proceeds to pay certain costs of issuance shall be made by the Escrow Agent under the terms set forth in the Cost of Issuance Agreement. • The Chief Financial Officer is hereby authorized•to deem'final the preliminary Official • Statement relating to the Bonds for the purposes of the Rule.. The Chief Financial'Officer is further authorized to ratify and to approve for purposes of the Rule; on behalf of the City, the Official Statement relating to the issuance and sale of.the Bonds and the distribution of the Official Statement pursuant thereto with such changes, if any, as may be deemed:by her to be • appropriate. • • Section 12. Undertaking to Provide Ongoing Disclosure. - (a) Contract/Undertaking, This section constitutes the City's written undertaking for the benefit of the owners, including Beneficial 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 the Municipal Securities Rulemaking Board. ("MSRB"), the following annual financial information and operating data for the prior fiscal year (commencing in 2013 for the fiscal year ended December 31,2012): 1. Annual fmancial statements, which statements may or may not be audited, showing ending fund balances for the City's general fund prepared in accordance with the Budgeting 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 4-26- P:120287_CMW120287_9RD 08/14/12