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

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The Company's and the School's Annual Report shall contain or incorporate by reference the following: (i) The Company's and the School's Audited Financial Statements for the prior Company's Fiscal Year, containing balance sheets as of the end of such Company's and the School's Fiscal Year and a statement of operations, changes in fund balance and cash flows for Company's Fiscal Year then ended, audited by a certified public accountant retained by the Company and the School; and (ii) A summary report for the prior Company's and the SchooI's Fiscal Year which includes information consistent with the information relating to the Company and the School in the Official Statement under the headings "THE COMPANY," "THE CHARTER SCHOOL," and "THE PROJECT," and in Appendix A. The Disclosure Agreement also requires the Company, the Company and the School to give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds not later than ten (10) business days after the occurrence of the event: (1) Principal and interest payment delinquencies; (2) Non-payment related defaults, if material; (3) Unscheduled draws on debt service reserves reflecting financial difficulties; (4) Unscheduled draws on credit enhancements reflecting financial difficulties; Substitution of credit or liquidity providers, or their failure to perform; (5) (6) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax-exempt status of the Bonds, or other material events affecting the tax-exempt status of the Bonds; (7) Modification to rights of holders of the Securities; (8) Securities calls (other than pursuant to mandatory sinking fund redemption), if material, and tender offers; (9) Defeasances; (10) Release, substitution or sale of property securing repayment of the Securities, if material; (11) Rating changes; (12) Bankruptcy, insolvency, receivership or similar event of the Company; E-8