Agenda - Council - 08/13/2013 - Laserfiche WebLink

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CONTINUING DISCLOSURE Rule 15c2-12, promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, imposes continuing disclosure obligations on the issuers of certain state and municipal securities to permit participating underwriters to offer and sell the Issuer's securities. In order to comply with the requirements of Rule 15c2-12, the Company, the School and the Trustee have entered into a Continuing Disclosure Agreement, dated as of 1, 2013. See Appendix E: "THE CONTINUING DISCLOSURE AGREEMENT." The Issuer does not have any obligation with respect to the Continuing Disclosure Agreement because the Issuer is not an "obligated party" under the terms of the Rule. The Issuer will not monitor the compliance by the Company with the terms of the Continuing Disclosure Agreement. RELATIONSHIPS AMONG THE PARTIES In connection with the issuance of the Series 2013 Bonds, the Issuer, the Company, the School and the Underwriter are being represented by the attorneys or law firms identified above under the heading "LEGAL MATTERS" and Kennedy & Graven Chartered is acting as Bond Counsel. In other transactions not related to the Bonds each of these attorneys or law firms may have acted as Bond Counsel or represented the Issuer, the Company, the School or the Underwriter or their affiliates, in capacities different from those described under "LEGAL MATTERS," and there will be no limitations imposed as a result of the issuance of the Series 2013 Bonds on the ability of any of these firms or attorneys to act as Bond Counsel or represent any of these parties in any future transactions. Potential purchasers of the Series 2013 Bonds should not assume that the Issuer, the Company, the School and the Underwriter or their respective counsel or Bond Counsel have not previously engaged in, or will not after the issuance of the Series 2013 Bonds engage in, other transactions with each other or with any affiliates of any of them, and no assurances can be given that there are or will be no past or future relationship or transactions between or among any of these parties or these attorneys or law firms. LITIGATION There is no litigation pending, seeking to restrain or enjoin the issuance or delivery of the Series 2013 Bonds or questioning or affecting the legality of the Series 2013 Bonds or the proceedings and authority under which the Series 2013 Bonds are to be issued. There is no litigation pending which in any manner questions the undertaking of the financing by the Company or the validity or enforceability of the Indenture, the Loan Agreement, the Escrow Agreement, the Tax Regulatory Agreement, the Lease, the Pledge Agreement or the Mortgage. Issuer To the actual knowledge of the Issuer, there is no litigation pending against the Issuer seeking to restrain or enjoin the issuance or delivery of the Bonds, questioning or affecting the legality of the Bonds or the proceedings and authority under which the Bonds arc to be issued or 34