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

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Agreement. If the Trustee is to provide any such Annual Report to each Repository, not later than fifteen (15) Business Days prior to said date, the Borrower and the School shall provide their respective Annual Report to the Trustee. The Borrower and the School shall provide a written certification with the Annual Reports furnished to the Trustee to the effect that such Annual Reports constitute the Annual Reports required to be furnished by the Borrower and the School hereunder. The Annual Reports may each be submitted as a single document or as separate documents comprising a package, and may cross-reference other information as provided in Section 4 of this Disclosure Agreement; provided that the Borrower's Audited Financial Statements may be submitted separately from the balance of the Borrower's Annual Report and the School's Audited Financial Statements may be submitted separately as the School's Annual Report. The Trustee's obligation to deliver the information at the times and with the contents described above shall be limited to the extent the Borrower and the School have provided such information to the Trustee as required hereby. (b) If by fifteen (15) Business Days prior to the date specified in subsection (a) for providing the Annual Report to each Repository, the Trustee has not received a copy of the Annual Report, the Trustee shall contact the Borrower and the School, as appropriate, to inquire if the Borrower and the School are in compliance with subsection (a). (c) If the Borrower and the School, as appropriate, do not provide a written certification to the Trustee to the effect that an Annual Report has been provided to the Repositories by the date required in subsection (a), the Trustee shall send a notice to each Repository in substantially the form attached as Exhibit A. (d) The Trustee shall to the extent the Borrower and the School have provided the Annual Report to the Trustee, file a report with the Borrower and the School certifying that the information represented to the Trustee by the Borrower and the School as the Annual Report has been provided pursuant to this Disclosure Agreement, stating the date it was provided, and listing all the Repositories to which it was provided. Section 4. Content of Annual Reports. (a) The Borrower's Annual Report shall contain or incorporate by reference the following: (i) The Borrower's Audited Financial Statements for the prior Borrower's Fiscal Year, containing balance sheets as of the end of such Borrower's Fiscal Year and a statement of operations, changes in fund balance and cash flows for Borrower's Fiscal Year then ended, audited by a certified public accountant retained by the Borrower. If the Borrower's Audited Financial Statements are not available by the time the Borrower's Annual Report is required to be filed pursuant to Section 3(a), the Borrower's Annual Report shall contain unaudited financial statements prepared by the Borrower in a format similar to the financial statements contained in the Official Statement, and the Borrower's Audited Financial Statements shall be fled in the same manner as the Borrower's Annual Report when they become available; and -3-