Agenda - Council - 11/23/1999 - Laserfiche WebLink

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ADDENDUM A OF AGREEMENT BETWEEN Economic Development Authority of the City of Ramsey, Minnesota AND Springsted Incorporated Effective as of ,199__ CONTINUING DISCLOSURE SERVICES $1,665,000 Public Facility Lease Revenue Bonds, Series 1999A Client has or will execute a Continuing Disclosure Undertaking in accordance with SEC Rule 15c2-12(b)(5), or any successor Rules, in connection with the issuance of each Client debt obligation listed above in which Client has agreed to provide continuing disclosure of certain financial information and operating data and timely notices of the occurrence of certain events. Capitalized terms not defined in this Addendum or the Agreement shall have the same meaning ascribed to them in SEC Rule 15c2-12(b)(5). "' Client wishes to retain the services of the Advisor to assist with the obligations set forth in the Continuing Disclosure Undertaking and Advisor wishes to provide such services as set forth below. A. Compile an Annual Report according to the Continuing Disclosure Undertaking (the "Undertaking") executed by Client pursuant to SEC Rule 15c2-12(b)(5) for the Debt Obligation(s) listed above for submission by Client to all Nationally Recognized Municipal Securities Information Repositories (NRMSIR), the State Information Depository (SID), if one is designated, and to the Municipal Securities Rulemaking Board (MSRB), if required, prior to the Annual Report Date as defined in the respective Undertaking for each Debt Obligation listed above. The Annual Report shall include: 1. An annual audited Financial Statement to be prepared by Client's accountants. 2. Updates of the operating and financial data included in the Official Statement, as outlined for continuing disclosure in the Undertaking incorporated in the Official Statement. Bo Monitor through periodic requests for information relating to incidents of and assist in the disclosure of Significant Events listed in the Undertaking. These include: 1. Principal and interest payment delinquencies; -~ 2. Non-payment related defaults; 3. Unscheduled draws on debt service reserves reflecting financial difficulties; 4. Unscheduled draws on credit enhancements reflecting financial difficulties;