07-12-21 Regular meeting of the La Porte City Council

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Section 8.2:Annual Reports The City shall provide annually to the MSRB, (1) within six months after the end of each fiscal year of the City, financial information and operating data with respect to the City of the general type included in the final Official Statement, being the information described in Appendix A (Table 1 and Tables 3-11) of the Official Statement and (2) if not provided as part of such financial information and operating data, audited financial statements of the City, when and if available. Any financial statements to be provided shall be (i) prepared in accordance with the accounting principles described in Appendix C of the Official Statement or such other accounting principles as the City may be required to employ, from time to time, by State law or regulation, and (ii) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If the audit of such financial statements is not complete within 12 months after any such fiscal year end, then the City shall file unaudited financial statements within such 12-month period and audited financial statements for the applicable fiscal year, when and if the audit report on such statements becomes available. The City may provide updated information in full text or may incorporate by reference certain other publicly available documents, as permitted by the Rule. The City’s current fiscal year end is September 30. Accordingly, it must provide updated the required information in Appendix A by the last day of March in each year and the required information in Appendix C by the last day of September in each year unless the City changes its fiscal year. If the City changes its fiscal year, it will notify the MSRB of the change. Section 8.3: Material Event Notices. The City shall notify the MSRB, in a timely manner, of any of the following events with respect to the Certificates (not in excess of ten (10) business days after the occurrence of the event): (a) Principal and interest payment delinquencies; (b) Non-payment related defaults, if material; (c) Unscheduled draws on debt service reserves reflecting financial difficulties; (d) Unscheduled draws on credit enhancements reflecting financial difficulties; (e) Substitution of credit or liquidity providers, or their failure to perform; (f) Adverse tax opinions or events affecting the tax-exempt status of the Certificates; (g) Modifications to rights of holders of the Certificates; (h) Certificate calls; (i) Defeasances; (j) Release, substitution, or sale of property securing repayment of the Certificates; 17